And there has been no official word from ExxonMobil and the international oil exploration company ENI which have been involved since January in drilling an ultra-deep well (230km inside the sea) for oil in what is known as Kekra-1 area.
Italy’s ENI and US oil major Exxon Mobil are jointly drilling for gas offshore in Pakistan’s Arabian Sea.
The prime minister believes that if big oil reserves are discovered, most of Pakistan’s economic problems will be addressed and then there will be no stopping the country’s progress.
Malaysia and Pakistan signed Memoranda of Understanding (MoUs) for five “big projects” on Friday, Finance Minister Asad Umar revealed during an informal discussion with journalists.
At the investment conference, Prime Minister Imran Khan on Friday praised his counterpart’s outspoken stance on issues affecting Muslim communities once again.
Earlier today, at the joint press conference following their meetings, Prime Minister Imran Khan appreciated his counterpart for taking a stand for Muslims a week after the Christchurch terror attacks.
The State Bank of Pakistan (SBP) said on Thursday that, except the currency note of Rs10, all other currency notes had specific features which could help visually impaired persons in recognising their genuineness and denominations.
This feature makes banknote denominations easily distinguishable by rubbing the thumb against these raised features.
Thus, a visually impaired person can easily infer the denomination of the banknotes by feeling the raised printing as well as its genuineness.
Stocks continued to weaken for third day in a row with the KSE-100 index tumbling by 163.04 points (0.42 per cent) and settle at 38,384.72.
Selling pressure was seen across the board in banks, cement, steel, fertiliser and oil and gas marketing companies.
Sectors contributing to the index downside included fertiliser, lower by 47 points, power 36 points, oil and gas marketing companies 22 points, exploration and production 13 points and cement 12 points.
The unpaid income tax and sales tax refund claims of some 74 companies owned fully or partially by foreign investors have increased by a whopping 38.7 per cent in last one year from Rs47 billion in February 2018 to Rs64.8bn.
The outstanding income tax refunds of its member firms stood at Rs42bn and sales tax claims at Rs22.8bn.
Tetra Pak is owed Rs4.9bn, Engro Foods Rs4.7bn and Nestle Rs4.6bn.
Expecting an additional gas demand of over 1.2 billion cubic feet per day (bcfd) by 2020 winters, the government has called a meeting of the Economic Coordination Committee (ECC) of Cabinet next week for dedicated discussions on the gas sector.
This comes in the aftermath of positive signals from Qatar for additional LNG supply of about 200 million cubic feet per day (mmcfd) to Pakistan at relatively lower rates than those charged under the existing long-term agreement of 15 years.
At least five major international and local firms are lobbying for government’s permission to set up next private sector terminal.