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K-Electric Ltd., Pakistan’s only vertically integrated power utility, outlined an ambitious $2 billion investment roadmap through 2030 at a corporate briefing on Monday, leveraging a newly approved multi-year tariff to modernize Karachi’s aging energy infrastructure and ramp up renewable power generation. The company, which serves over 3.4 million customers in Karachi and surrounding areas, said…
Pakistan slashed liquefied petroleum gas (LPG) prices by 1.88 per cent for June 2025, citing a drop in international rates, the Oil and Gas Regulatory Authority said Saturday. The government-revised price stands at Rs240.54 per kilogram, down Rs4.62 from Rs245.16/kg in May, according to an OGRA notification. The price cut reflects a 2.61 per cent…
ISLAMABAD — NEPRA Chairman Waseem Mukhtar on Thursday dismissed federal Power Minister Awais Leghari’s criticism of K-Electric’s tariff determination, stating bluntly during a public hearing, the decision is final, “We’ve given our decision, now it’s up to the minister to respond.” The remarks came amid a heated discussion during the monthly fuel charges adjustment (FCA)…
Pakistan’s Energy Minister has publicly criticized recent regulatory decisions on K-Electric’s licenses, warning of long-term risks to investment and subsidy frameworks—yet sources say the government may quietly reverse its stance amid pressure from influential quarters and concerns over Saudi-linked investment in the utility. In a post on X (formerly Twitter), Energy Minister Owais Ahmad Khan…
New budget targets auto elite, spares hybrids amid pressure from Tokyo Pakistan is set to impose steeper withholding taxes on a wide range of luxury vehicles in its upcoming 2025-26 budget, part of a broader revenue-boosting push to meet International Monetary Fund (IMF) benchmarks — even as it moves carefully to accommodate Japanese pressure on…
Pakistan has extended the deadline for submitting Expressions of Interest (EoIs) to acquire Pakistan International Airlines Corp. Ltd. (PIACL) by two weeks to June 19, 2025, as the government seeks to attract more strategic investors and close the long-delayed privatization of its debt-laden national carrier, an official told The Newser. The extension — pushed from…
Senators warn of capital flight, urge reforms as penalties rise and enforcement tightens Pakistan’s top tax authority confirmed that a growing number of businesses are shifting operations to Dubai to escape high tax burdens, a revelation that alarmed lawmakers and renewed calls for urgent reform to stem capital flight. Hamid Attique Sarwar, Member Inland Revenue…
Lahore firm’s global push lifts stock 67%, outpaces KSE-100 Pak Elektron Ltd (PSX: PAEL) is expanding its global reach with growing exports to the United States and the launch of a smart meter assembly plant in Nigeria. The Lahore-based electrical equipment manufacturer has rallied more than 67% in one year, handily beating the KSE-100 Index,…
Petroleum minister, PM back industry push to fix sales tax snag threatening refinery modernization The government has assured the refinery sector that their tax issues will be resolved in the upcoming budget that was affecting the refineries and oil marketing companies, as the petroleum minister has taken up this issue with the ministry of Finance…
Petroleum Minister Pledges Pro-Business PushFDI jumps in April as government woos American investors with promises of reforms Pakistan’s Petroleum Minister, Ali Pervaiz Malik, vowed to maintain a pro-business trajectory, signaling stronger investor support and regulatory reforms as Islamabad looks to revive foreign investor confidence—especially among U.S.-linked firms. Speaking in Lahore, on Saturday, Malik—who previously served…
Government awards 13 new blocks for exploration in Sindh and Balochistan ISLAMABAD — In a significant boost to foreign investment in Pakistan’s energy sector, the government has awarded oil and gas exploration rights to Turkish Petroleum Overseas Company (TPOC) in Sindh and Balochistan, official sources confirmed on Friday. TPOC, a state-owned Turkish energy firm, will…
Pak Elektron Limited (PEL), Pakistan’s leading power equipment and appliances manufacturer, is making its first major footprint in Africa by establishing a smart energy meter assembly plant in Nigeria, in partnership with a local business giant. The move signals PEL’s ambition to tap into Africa’s rising energy demand and position itself as a key player…
NEPRA Orders KE Probe; Karachi Traders Say ‘No More Surcharges’ ISLAMABAD: Business leaders and industrialists in Karachi on Thursday launched a scathing attack on K-Electric (KE), vowing not to pay “a single penny” in surcharges related to the company’s Rs76 billion write-off claims, while accusing the utility of sending bogus bills to defaulted consumers dating…
The Special Investment Facilitation Council (SIFC) and the Public Procurement Regulatory Authority (PPRA) have formally conveyed their decisions to Pakistan International Bulk Terminal Ltd., clearing the Karachi-based operator to handle exports of copper, gold, and other high-value minerals from Barrick Gold Corp.’s $6 billion Reko Diq project. “We have received the decisions, and we have…
A drone strike in the Shamozai area of Katlang, just 30 kilometers from the Punjab Regiment Center in Mardan, killed at least 10 civilians, including women and shepherds, triggering outrage among locals, sources said Saturday. Following the strike, protesters placed bodies on the Swat Motorway, blocking traffic and condemning the attack. Reports suggest that a…
Honda Atlas Cars Pakistan has achieved a historic milestone by exporting its first-ever batch of completely built-up (CBU) units, with 40 Honda City 1.2L vehicles dispatched to Japan. The landmark export underscores Pakistan’s growing role in the global automotive industry and aligns with the government’s vision of boosting industrial and export-led growth. Special Assistant to…
Islamabad, Pakistan: Former Pakistani Prime Minister and Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan has been nominated for the Nobel Peace Prize, a Norwegian political group announced. The nomination was put forward by members of the Pakistan World Alliance (PWA), who belong to Norway’s Partiet Sentrum political party, according to the group. This is not the…
Imagine an AI buddy who’s smart and fun. That’s Grok 3, built by xAI. Launched on February 17, 2025, it helps humans explore and learn. Created by Elon Musk’s team, it’s like a helpful friend. Let’s dive into what it does now and what’s coming next. What Grok 3 Can Do Today Grok 3 is…
Pakistan’s very own Space and Upper Atmosphere Research Commission (SUPARCO) is all set to launch its first electro-optical satellite, EO-1, on January 17, 2025 from the Jiuquan Satellite Launch Center in China. This is a historic moment in Pakistan’s space journey, showing the country’s growing expertise in space technology. A Step Towards Self-Reliance in Space…
Micro nuclear reactors delivering 5MW for 100 months are set to revolutionize energy for data centers. Microsoft and Oracle explore nuclear options, with Westinghouse’s eVinci reactor leading the innovation push.