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Barnama
a day ago
- Business
- Barnama
PETRONAS Welcomes 20 Global Startups To Its FutureTech Corporate Accelerator Programme
KUALA LUMPUR, June 24 (Bernama) -- PETRONAS, in collaboration with its corporate partners, has selected 20 high potential startups for the fourth edition of its FutureTech accelerator programme. The selected startups representing seven countries, including Malaysia, Singapore, Thailand, Hong Kong, Japan, Australia, and the United States, are advancing innovative solutions aligned with the programme's three key themes: Future of Industry and Work, Future of Energy and Future of Chemicals and Materials.
Express Tribune
18-02-2025
- Business
- Express Tribune
The way the country is run, even a retail shop can't be managed: Musadik Malik
Listen to article Federal Petroleum Minister Dr. Musadik Malik has said that the way the country is being run, even a small retail shop cannot be managed this way. Addressing a ceremony held in connection with 30th Annual Technical Conference and Oil Show in Islamabad on Tuesday, Minister Malik emphasised that there is a need for liberalisation in government policies. He stated, "The way we are running the country, even a retail shop cannot function this way." Dr. Malik remarked that running businesses is not the government's job and that matters need to be handed over to the private sector. He acknowledged the failure of privatising PIA (Pakistan International Airlines) and mentioned that the government is once again initiating the privatisation process for the airline. He added that the focus should be on increasing reliance on national resources and moving away from outdated and bureaucratic methods. Dr Musadik Malik said the government is pursuing multi-pronged strategy for development of energy sector in the country. The said the fundamental pillars of the government strategy for advancing the energy sector are the Access to Energy, Provision of Affordable Energy, and Sustainability of Energy. The Minister said to achieve the goals, the government is working on three fronts that include Indigenisation, Electrification and Liberalization. He said the main focus of the government is to reduce the cost of energy for the poor and it is utilizing local energy resources for this purpose. He said the government is also working to lessen the hazardous impacts of energy on the environment. Musadik Malik said forty new offshore and thirty-one inshore blocks have been announced after a span of ten years, which is a major achievement. He said Pakistan is open for business and these blocks offer excellent investment opportunities for international investors to invest in Pakistan. The Petroleum Minister explained that the government is currently working on three fronts in the energy sector. These include working to provide energy access to the entire population, ensuring affordable energy prices, and enhancing energy sustainability. He also mentioned the government's focus on increasing local production, stating that "what will we do with energy that the public cannot afford?" He pointed out that simply bringing in one or two machines won't bring prosperity and that sustainable development requires self-driven scientific research and work. Dr. Malik emphasized the importance of building national confidence, saying that to progress, Pakistan must move beyond a narrow mindset. He warned that if glaciers continue to melt rapidly, the country's irrigation system will be destroyed. He stressed that any action taken should be in consideration of the environmental impact.
