UPDATE 2-Pakistan defers trade with India until Delhi reviews Kashmir s status, foreign minister says thesundaily.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thesundaily.my Daily Mail and Mail on Sunday newspapers.
Pakistani refinery seeks used complex to upgrade operations
4/9/2021
Pakistan Refinery Limited is looking to buy a second-hand refinery complex to upgrade its operations and increase output to help meet rising demand for petroleum products as the country emerges from a pandemic-driven slump.
The South Asian country currently has five refineries with a total capacity of 417,000 barrels per day (bpd), according to Pakistan s 2020 economic survey, the largest of which stands at 150,000 bpd.
If the purchase goes ahead PRL could double its capacity to 100,000 bpd.
The company this week sought offers to purchase a second-hand refinery complex for relocation to Pakistan, according to an advertisement placed in international media.
By Reuters Staff
1 Min Read
ISLAMABAD, April 8 (Reuters) - Pakistan may have to temper its economic growth expectations following a third wave of COVID-19 infections, an IMF official said on Thursday.
The IMF had forecast 1.5% GDP growth for the current fiscal year 2020-21 but then felt it could be higher after good data in January and February, IMF Mission Chief for Pakistan Ernesto Ramirez Rigo told reporters.
“Now with this third wave, perhaps we might be in a situation where we need to dampen a bit our expectations relative to the upside to the forecast,” he said, adding that it was also becoming more necessary for Pakistan to adjust its annual budget. (Reporting by Gibran Peshimam; Editing by Andrew Cawthorne)
(Adds COVID data and background)
ISLAMABAD, April 8 (Reuters) - Pakistan may have to temper economic growth expectations following a third wave of COVID-19 infections, an IMF official said on Thursday.
The IMF had forecast 1.5% growth in gross domestic product (GDP) for the current fiscal year 2020-21 but then felt it could be higher after good data in January and February, IMF Mission Chief for Pakistan Ernesto Ramirez Rigo told reporters.
“Now with this third wave, perhaps we might be in a situation where we need to dampen a bit our expectations relative to the upside to the forecast,” he said, adding that Pakistan would also need to adjust its annual budget.
Pakistan may need to dampen economic growth hopes marketscreener.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketscreener.com Daily Mail and Mail on Sunday newspapers.