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Pakistan receives second LNG cargo from Qatar this month

Pakistan receives

KARACHI: Pakistan has received its second liquefied natural gas (LNG) cargo from Qatar this month under a long-term supply agreement.

The LNG carrier Shandong Redwood, which sailed from Qatar, berthed at the Pakistan GasPort Limited (PGPL) terminal on Wednesday morning.

The cargo was procured under a long-term LNG agreement at a price equivalent to 13.37% of the Brent crude oil price.

Pakistan contacted Iran to ensure safe passage of the LNG shipment, while the cargo is expected to provide some relief to the power sector.

The Strait of Hormuz remains a key route for LNG supplies to Pakistan.

Pakistan receives worldwide appreciation for role in Middle East ceasefire

Pakistan receives

The world has acknowledged Pakistan’s pivotal role in facilitating the US-Iran ceasefire. Paolo Gentiloni, former Prime Minister of Italy and European Commissioner, suggested that Pakistan deserves the Nobel Peace Prize for its efforts.

In a statement on social media, Gentiloni wrote that, in his view, Pakistan is the rightful recipient of the award in the current circumstances.

In addition, several countries including Saudi Arabia, the United Arab Emirates, Oman, Qatar, and Jordan welcomed the announcement of the ceasefire. Major global powers such as China, Russia, and European nations also called the US-Iran agreement a positive development.

The Chinese Foreign Ministry emphasized its own efforts to achieve sustainable peace in the Middle East. The British Prime Minister highlighted the importance of turning the ceasefire into a long-term peace agreement. French President welcomed the ceasefire while expressing concern over the situation in Lebanon.

Germany’s Chancellor thanked Pakistan for facilitating the ceasefire, while Turkey announced full support for the negotiations held in Islamabad. Australia, Egypt, and Malaysia also welcomed the development.

Russia expressed hope that direct US-Iran negotiations will continue and noted that the ceasefire provides the US more time and flexibility to resume talks with Ukraine.

The United Nations Secretary-General and Pope Leo, the spiritual leader of the Catholic Church, also welcomed the ceasefire.

Pakistan receives $1.2b tranche from IMF

Pakistan receives

ISLAMABAD: The State Bank of Pakistan (SBP) has received a $1.2 billion installment from the International Monetary Fund (IMF).

Sources confirmed that the funds have been transferred to the SBP account. The IMF had approved the disbursement for Pakistan on 8 December.

The amount represents the third tranche under the current IMF loan program. In addition, the IMF has released an extra $20 million for Pakistan to support climate change-related initiatives.