Rising demand, stronger grid links, and new studies point to growth potential for investors K-Electric is poised for a major power supply boost as the revised Indicative Generation Capacity Expansion Plan (IGCEP) 2025–2035 projects electricity exports from the National Grid to the utility will surge to 3,456 megawatts (MW) by 2035—up sharply from 2,050 MW…
The Competition Commission of Pakistan (CCP) has launched a formal inquiry into deceptive marketing practices in the housing sector after intelligence reports revealed widespread misrepresentation by several housing societies and developers. According to a CCP statement, the move follows extensive data gathered by the Commission’s Market Intelligence Unit (MIU) and Office of Fair Trade (OFT),…
Watchdog calls for unbundling gas utilities, stronger regulation and private sector entry to cut costs, boost competition Pakistan’s Competition Commission has flagged deep-rooted barriers in the liquefied natural gas (LNG) market, urging sweeping reforms to dismantle state monopolies, strengthen regulation, and open the sector to private players. In a detailed report, the Competition Commission of…
GlobalTech Corporation, the U.S.-based parent of WorldCall Telecom Limited (WTL), has appointed Frank R. Parrish, III as its new president, marking a major leadership transition as the holding company positions itself for global expansion in artificial intelligence, Big Data, and digital infrastructure. Parrish, a seasoned executive with 25 years in assurance and advisory services, brings…
Finnish mineral giant Metso will not only supply equipment and services for Pakistan’s flagship Reko Diq mining project but also train local human resources, officials announced Monday after high-level talks in Islamabad. Federal Minister for Petroleum Ali Pervaiz Malik met a Finnish delegation comprising Ambassador Hannu Ripatti, Piia Karhu, President of Minerals at Metso, and…
Government’s largest-ever restructuring aims to stabilize electricity sector, with consumers set to fund repayments through surcharges
Posts Rs4.24b profit, rebounds from Rs39.5b loss Utility boosts efficiency, expands grid links as revenue surges 46% despite economic headwinds K-Electric Ltd., Pakistan’s largest private power utility, swung back to profitability in the fiscal year ended June 30, 2024, reporting a consolidated net profit of Rs4.24 billion after a staggering Rs39.48 billion loss in 2023,…
Utility sheds 96MW capacity to cut costs, boost profitability while ensuring reliable supply K-Electric Ltd. said Tuesday it will decommission two outdated gas turbine power stations in Karachi to cut costs and boost efficiency, a strategic shift executives say will improve long-term profitability without disrupting supply to its 3.4 million customers. The board-approved decision targets…
Wins $200m Boost, Gets 222 MMCFD Gas Nod for Fertilizer Sector Company shift from loss-making power deals and unlocks stranded reserves, boosts cash flows Mari Energies has secured government permission to supply 222 million cubic feet per day (MMCFD) of gas from its Ghazij/Shawal reservoir to fertilizer companies at market rates—an allocation worth about Rs136…
Pakistan has drawn bids from seven heavyweight consortia — including Citigroup, CBRE, Morgan Stanley and Cushman & Wakefield — to advise on the privatization of its storied Roosevelt Hotel in New York. The technical bids, opened this week by the Privatization Commission, put some of the world’s biggest names in finance and real estate into…
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