KARACHI: Senior member of the Dubai royal family, Sheikh Ahmed Dalmook Al Maktoum, will invest around 15 percent of the equity requirement of a coal-to-gas and coal-to-liquid (C2L) processing facility to be set up in Pakistan’s southern Thar desert, officials said on Wednesday.
Al Maktoum group of private companies mainly focuses on energy, infrastructure, mining, LNG terminal development, oil and gas commodity trading and education and agriculture projects. His business is also a key strategic stakeholder in Oracle Power PLC, a United Kingdom-based power and natural resource project developer.
The exact cost of the project is not yet decided but Al Maktoum will invest 15% of the equity requirement, Naheed Memon, CEO of Oracle Power, told Arab News.
“He is also an investment partner in our projects in Pakistan in Thar; he has committed to invest 15% of the equity requirements,” Memon said on the sidelines of a stakeholder consultative conference held in Karachi to deliberate upon a coal conversation policy for Thar deposits.
The Thar desert is home to the largest lignite coal reserves in the world at an estimated 175 billion tons - the equivalent of 50 billion tons of oil and 2000 trillion cubic feet of gas, according to the Geological Survey of Pakistan.
Four Pakistani leading coal mining and power generation companies are planning to convert huge deposits of coal into gas and liquid in the Thar desert in southern Sindh province, as the country moves to ban new coal-fired power plants.
Last years, Pakistani Prime Minister Imran Khan told a virtual gathering of global leaders: “We have decided we will not have any more power based on coal … We have already scraped two coal power projects which were supposed to produce 2600 megawatt of energy. By 2030, 60 percent of all energy produced in Pakistan will be clean energy.”
Chinese companies are financing and building most of Pakistan’s coal plants through the over $60 billion China-Pakistan Economic Corridor (CPEC), a flagship of China’s belt and road initiative.
Memon said coal to gasification was a “new technology very dependent on international commodity prices of oil and gas and required substantial investment.”
She said investment requirements were similar to coal mining for power generation; the gasification process also involved mining of coal and then its conversion into syngas, or synthesis gas, by installing gasification units.
“Approximately we are talking about $2 billion to $3 billion to produce, for example, two million ton of urea - that is the kind of money we are looking at,” said Memon, whose company is operating along with China National Coal Development company (CNCDC), in Thar.
Participants at Wednesday’s conference called for a comprehensive coal gasification policy to kickstart projects in the country.
“We have proposed to the government of Pakistan that an appropriate framework be put in place,” Memon said, adding: “The utilization could be for line gas, urea, and liquid petroleum base products for this sort of development to take place a policy has to be put in place.”
Nadeem Babar, a special advisor on petroleum, assured the participants that all energy policies would be made in consultation with stakeholders.
“We have not made any energy policy without consulting the stakeholders during two and half years of our tenure and the process will continue,” he said, addressing the conference. “We need to convert our energy sector into commodity … the government gives great importance to coal gasification and conversion into liquid petroleum”.
Pakistan currently has four coal-fired power plants worth $6.7 billion, with three using imported coal. The combined capacity of these plants set up under CPEC is 4,620 MW.
In the last five years, the share of coal-based power in Pakistan’s energy mix has gradually increased from almost negligible to more than 20%, according to the National Electric Power Regulatory Authority (NEPRA).
The share of coal-based electricity generation in total thermal generation during the fiscal year 2019-20 was 31.84%, up from 18.71% in 2018-19. The utilization of coal-based power plants during fiscal year 2019-20 was almost 66% of total installed capacity of coal-based power plants, NEPRA data showed.
Coal utilization is set to expand further as five more power plants, built under the CPEC umbrella at a cost of more than $3.3 billion, are scheduled to commence operations by the end of 2026. Among these upcoming power plants, four will use Thar coal, according to the Private Power and Infrastructure Board (PPIB).
Dubai’s Al Maktoum to invest 15% equity requirement in Pakistan coal conversion project
https://arab.news/g5bj3
Dubai’s Al Maktoum to invest 15% equity requirement in Pakistan coal conversion project
- Exact cost of the coal-to-gas and coal-to-liquid processing facility not yet decided but Al Maktoum will invest 15% of equity requirement
- Last years, Pakistani Prime Minister Imran Khan said his government had decided not to generate any more power using coal
PIA to launch first direct Lahore-Baku flight on Sunday amid push for regional connectivity
- The announcement was made at a roadshow organized in Lahore ahead of the launch
- The new route is expected to boost tourism, business travel between the two countries
KARACHI: Pakistan International Airlines (PIA) will begin weekly direct flights from Lahore to Baku on Sunday, the national carrier said, marking its latest step to expand travel links amid Islamabad’s push for deeper connectivity with Central Asian states.
The move comes as Pakistan strengthens diplomatic and trade ties with Azerbaijan, a key partner in its broader regional outreach. The new route is expected to boost tourism, business travel and cultural exchange between the two countries.
“PIA will start weekly flights from Lahore to Baku from Sunday, April 20,” the airline said in a statement on Saturday. “The first flight to Baku will depart tomorrow morning, carrying 174 passengers.”
The announcement was made at a roadshow organized in Lahore ahead of the launch, attended by travel agents, tour operators and tourism industry stakeholders.
PIA officials briefed participants on the airline’s expansion plans and encouraged greater collaboration to promote regional travel and tourism.
“Baku is rapidly emerging as one of the world’s leading tourist destinations, known for its beautiful cityscape, culinary scene and rich religious and cultural heritage,” the official PIA statement continued, adding that Lahore would see more international destinations added in the near future.
The new flight service is seen as part of Pakistan’s ongoing quest to improve air connectivity with countries in Central Asia, where it has been seeking to expand trade and diplomatic engagement in recent years.
Pakistan deputy PM announces understanding with Kabul to prevent cross-border militancy
- Ishaq Dar says Pakistan is trying to ensure the return of Afghan nationals ‘with dignity and respect’
- He also announces steps to facilitate Afghan transit trade, demands exchange of trade delegations
ISLAMABAD: Deputy Prime Minister and Foreign Minister Ishaq Dar on Saturday announced a joint understanding between Pakistan and Afghanistan not to allow their soil to be used against each other while addressing a news conference toward the end of his day-long visit to Kabul.
Dar’s visit to the neighboring country came amid surging militancy in Pakistan, which Islamabad blames on the Tehreek-e-Taliban Pakistan (TTP) and other militant factions. Pakistan has frequently accused the Afghan Taliban in the past of providing these armed groups sanctuaries and facilitating their cross-border attacks, allegations that Kabul has repeatedly denied.
The deputy prime minister’s visit to Kabul also took place at a time when Pakistan has intensified its campaign to deport “illegal immigrants,” mostly Afghan nationals, which it blames for being involved in suicide attacks and militancy in the country.
The deportation drive has further soured ties between the two nations, prompting the Afghan authorities to express “deep concern” their forced repatriation during Dar’s trip to Kabul.
“We have requested our hosts that we must work together for the development of this region, for its betterment and for establishing peace and stability here,” the deputy prime minister said while addressing the news conference. “For that, we will not allow our land or our soil to be used by anyone for any wrongful activity inside Afghanistan, and we kindly request you to do the same.”
“Both countries must strictly deal with such elements,” he continued. “Neither side should allow its territory to be used for any activity against the other, whether it concerns security or terrorism.”
Dar added in case of any militant violence, both countries “will be responsible to take firm action against such elements within our respective countries and stop them.”
The deputy prime minister also announced a number of measures aimed at facilitating Afghan transit trade, saying they would be implemented by June 30. “Exchange of trade delegations between the two countries is also vital at this stage to increase bilateral trade and ensure mutual prosperity,” he said.
Addressing Afghan concerns over the deportation, he noted Pakistan was trying to ensure that those being sent back were treated with “respect and dignity.”
He said the interior ministry would issue a notification within 48 hours providing phone numbers, WhatsApp contacts and an email address to register any complaints from Afghan nationals returning to their country.
Denying any instructions to block the sale of property by Afghans, he said that those returning to Afghanistan were also allowed to take their personal belongings back with them.
Earlier in the day, before departing for Kabul, Dar acknowledged recent “coldness” in bilateral ties but said security remained a priority.
“I believe the security of Pakistan, its people, their lives and properties, is very important,” he told state-run Pakistan Television. “So one of our concerns is regarding terrorism, which we will discuss.”
During the visit, he met with senior Afghan officials, including acting Prime Minister Mullah Muhammad Hassan Akhund, Deputy Prime Minister Mullah Abdul Salam Hanafi and Foreign Minister Amir Khan Muttaqi.
According to Pakistan’s foreign office, the discussions focused on security, trade, transit and regional connectivity, with both sides reaffirming their commitment to maintaining high-level engagement and enhancing people-to-people contact.
Pakistan deputy PM meets Afghan premier in Kabul to discuss militancy, trade cooperation
- Ishaq Dar acknowledges ‘coldness’ in ties before Kabul visit, says ‘terrorism’ will be discussed
- Afghan foreign ministry also expresses concern over Pakistan’s deportation drive in a statement
ISLAMABAD: Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar on Saturday met Afghanistan’s acting Prime Minister Mullah Muhammad Hassan Akhund during a day-long visit to Kabul, where the two sides discussed militancy, regional security, trade and efforts to boost bilateral cooperation.
His visit takes place amid surging militancy in Pakistan, which Islamabad blames on the Tehreek-e-Taliban Pakistan (TTP) militant outfit. Pakistan accuses the Afghan Taliban of providing them sanctuaries, allegations that Kabul has repeatedly denied.
Dar’s visit to Kabul also takes place as Pakistan intensifies its campaign to deport “illegal immigrants,” mostly Afghan nationals, which it has blamed without evidence for being involved in suicide attacks and militancy in the country.
Pakistan’s deportation drive has further soured ties between the two nations.
“Deputy Prime Minister / Foreign Minister, Senator Mohammad Ishaq Dar ... called on the acting Afghan Prime Minister, Mullah Muhammad Hassan Akhund,” the Pakistani foreign office said in a brief statement.
“Both sides exchanged views on key issues of mutual interest, including security, trade and transit cooperation, and explored ways to enhance people-to-people contacts,” it added.
The foreign office informed the two leaders reaffirmed their commitment to continued engagement and agreed to maintain high-level exchanges to further strengthen relations between the two “brotherly countries.”
Dar arrived in Kabul earlier on Saturday to hold talks with Afghan leaders amid increasingly tense ties between the neighbors.
Before departing for Kabul, Dar acknowledged recent “coldness” in ties between the two nations but said security remained a priority.
“I believe the security of Pakistan, its people, their lives and properties, is very important,” he told state-run Pakistan Television. “So one of our concerns is regarding terrorism, which we will discuss.”
Dar said Pakistan saw immense potential for trade and investment with Afghanistan and stressed the importance of regional connectivity.
“Our connection with Central Asian states can be established through rail links but that’s not possible unless Afghanistan becomes a partner in this,” he added.
Dar also met Afghan Deputy Prime Minister Mullah Abdul Salam Hanafi and Foreign Minister Amir Khan Muttaqi upon his arrival in Kabul to discuss security, border management and economic cooperation.
“Both parties reaffirmed their commitment to fostering mutually beneficial relations and agreed on the importance of maintaining high-level engagement,” the foreign office said after that meeting.
Dar’s trip is seen as part of Islamabad’s efforts to re-engage with the Afghan Taliban government despite ongoing tensions and to address its concerns over a surge in militant attacks in Pakistan.
A statement issued by the Afghan government said the Taliban foreign minister voiced “deep concern” over Pakistan’s deportation drive, urging Islamabad to “prevent the suppression of the rights of Afghans.”
Pakistan’s finmin leaves for US to attend World Bank/IMF Spring Meetings
- World Bank/IMF Spring Meetings 2025 will be held from Apr. 21-26 in Washington D.C.
- Aurangzeb to address investment forums, meet counterparts from other countries
KARACHI: Pakistan’s Finance Minister Muhammad Aurangzeb left for the United States on Saturday to attend the World Bank/International Monetary Fund (IMF) Spring Meetings 2025, the finance ministry said.
Leading finance ministers and officials of the World Bank and the IMF will gather in Washington D.C. to attend the spring meetings from Apr. 21-26.
Aurangzeb will meet with top officials of the World Bank and IMF, and interact with the finance ministers from China, the United Kingdom, Saudi Arabia and Turkiye, the finance ministry said.
“The Finance Minister will clarify the country’s economic scenario while addressing investment forums and seminars during the visit,” the statement said.
Aurangzeb will meet officials of the US State and Treasury Departments as well as those from global credit rating agencies, commercial and investment banks.
“During the visit, the Finance Minister will attend the 13th Ministerial Meeting of the Coalition of Finance Ministers for Climate Action,” the ministry said.
Aurangzeb will address a roundtable discussion with institutional investors organized by Jefferies International, titled: ‘Pakistan’s Economic Outlook, Recent Fiscal and Monetary Developments and Progress on Reforms and Engagement with the IMF.’
The finance minister will also address a session organized by the Center for Global Development (CGD) on ongoing reforms in Pakistan and future challenges that the country faces.
Aurangzeb will meet Garji Ghosh, the president of the Global Policy and Advocacy Division, Gates Foundation and Queen Maxima of the Netherlands.
“Finance Minister Muhammad Aurangzeb will visit leading think tanks in the US,” the ministry said, adding that he will also meet international and US media representatives.
Aurangzeb’s visit takes place as Pakistan tries to recover from a prolonged macroeconomic crisis via financial reforms mandated by the IMF.
The IMF staff reached a deal with Pakistan for a new $1.3 billion arrangement last month and also agreed on the first review of the ongoing 37-month bailout program. Pending board approval, Pakistan can unlock the $1.3 billion under a new climate resilience loan program spanning 28 months.
The IMF will also release $1 billion for Pakistan under its $7 billion bailout program, which would bring those disbursements to $2 billion.
Pakistan vows no leniency toward perpetrators of KFC mob attacks
- One person was killed in around 20 attacks targeting KFC outlets this month, says Pakistan’s minister of state for interior
- Charged mobs fueled by anti-US and anti-Israel sentiments attacked KFC outlets in various parts of the country this week
ISLAMABAD: Pakistan’s Minister of State for Interior Tallal Chaudry vowed on Saturday that the government will not show any leniency toward those involved in attacks targeting international food chain Kentucky Fried Chicken’s (KFC) outlets in various parts of the country, vowing to ensure protection for foreign investment.
The minister’s remarks came after charged mobs attacked and vandalized KFC outlets in various parts of the country this week, angered by growing anti-United States sentiment in Pakistan and in opposition to Israel for its military campaign in Gaza.
In videos shared widely on the Internet, men carrying sticks can be seen hurling abuses at customers and staff at various KFC outlets, forcing them to leave the eatery while they vandalize the outlets’ property.
Speaking to reporters at a news conference, Chaudry said around 20 such incidents across the country have taken place this month in which one KFC employee lost his life. He said 12 complaints have been registered for such incidents in Punjab, where 142 people have been arrested for their involvement in the attacks. In Islamabad, he said 15 people were arrested for their involvement in attacks on KFC outlets.
“It cannot happen that someone brings investment into Pakistan, gives its people employment, pays 100 percent tax, and also spends on welfare, education and health activities, and then someone attacks it,” Chaudry said.
“We will not let this happen. I am just not issuing a warning but practically it is being implemented in all four provinces. They are not being shown leniency anywhere and neither will we show them leniency,” he added.
The minister said those arrested for attacking KFC outlets across the country were ashamed of their actions. He said Pakistan’s religious and political parties had distanced themselves from these incidents.
Chaudry said since Friday, no attacks have been reported on any KFC outlets across the country after the prime minister took notice of the incident.
He reiterated Pakistan’s support for Palestine, saying that Prime Minister Shehbaz Sharif had raised his voice for the people of Gaza repeatedly.
However, he said the government would ensure protection for foreign investment in the country whether it be in the mines and minerals sector or international food chains.
The minister said such attacks would be “unacceptable,” adding that Pakistan’s government and interior ministry were available 24 hours to respond to such incidents.
“Any such attack will be unacceptable and it will be treated similar to when a terrorist attacks an unarmed man,” Chaudry said.
Western brands have been hit by boycotts and other forms of protests in Pakistan and other Muslim-majority countries in recent months over Israel’s military offensive in the Gaza Strip.
The war was triggered by the Palestinian group Hamas’ Oct. 7, 2023, attack on southern Israel, in which 1,200 people were killed and 251 taken hostage to Gaza, according to Israeli tallies.
Since then, more than 51,000 Palestinians have been killed in the Israeli offensive, according to Palestinian health authorities.
