Mari Energies Nears Takeover of Stakes in Orient Petroleum Blocks Across Pakistan
Mari Energies Ltd., Pakistan’s No. 2 oil and gas explorer, is set to formally take over significant stakes in three Orient Petroleum blocks within days, cementing its position in some of the country’s most promising hydrocarbon zones. “The process of formally claiming its stakes and relocating to the sites will conclude in a few days. […]
Punjab launches first-ever E-Taxi Scheme
1,100 electric taxis to hit the roads; online applications open until Oct 5 The Punjab government on Tuesday rolled out its first-ever E-Taxi Scheme, announcing that 1,100 electric taxis will be distributed in the initial phase to promote eco-friendly and affordable transport across the province. Citizens can apply online at e-taxi.punjab.gov.pk until October 5, 2025. […]
Citi Pharma Bets Big on Veterinary Sector, Targets PKR 10B Turnover
Citi Pharma Limited has formally entered Pakistan’s veterinary healthcare market through its new subsidiary, Citi Veterinary Limited, which launched trading operations Friday with an ambitious plan to achieve PKR 10 billion in turnover within three years. The company is rolling out 32 veterinary products, including vaccines, backed by letters of credit for eight key offerings […]
NEPRA orders Rs1.78/unit refund to KE, Discos consumers
Pakistan’s power regulator has ordered state-run power distribution companies and K-Electric to refund consumers Rs1.7856 per unit in September electricity bills, while issuing a blistering warning over chronic mismanagement that has cost the sector hundreds of billions of rupees. The National Electric Power Regulatory Authority (NEPRA) said consumers were overcharged in July, prompting the adjustment […]
Pakistan’s SECP, Mobilink Bank Tie Up to Digitize Corporate Account Openings
Pakistan’s top corporate regulator has teamed up with Mobilink Microfinance Bank Ltd. to digitize and speed up the process of opening corporate bank accounts, a move aimed at boosting transparency, improving oversight, and easing business operations in the country. The Securities and Exchange Commission of Pakistan (SECP) signed a memorandum of understanding with Mobilink Bank […]
K-Electric Raises Rs4.4 Billion in Pakistan’s First Retail Sukuk IPO
K-Electric Ltd. raised Rs4.4 billion ($15.8 million) from Pakistan’s first retail-listed short-term Sukuk, more than doubling its Rs2 billion target in an initial public offering that drew strong demand from both institutional and individual investors. The share-sale, which closed Sept. 3, attracted more than 600 applicants, underscoring growing confidence in the Karachi-based utility’s growth plans […]
WAPDA Seeks to Double Hydropower Tariff on Rs364.8B Funding Push
Pakistan’s Water and Power Development Authority (WAPDA) has asked regulators to nearly double its hydropower tariff, seeking approval for a staggering Rs364.8 billion revenue requirement for fiscal year 2025-26 — almost double the Rs190.9 billion allowed for FY2022-23 — as rising project costs and asset transfers strain its balance sheet. The state-run WAPDA, which operates […]
Pakistan unveils $55B energy plan to boost renewables, cut imports
The government has unveiled a sweeping $55 billion blueprint to overhaul its power sector over the next decade, betting on hydropower, nuclear and renewables to meet soaring electricity demand while phasing out its dirtiest fuels and reducing reliance on costly imports. The Indicative Generation Capacity Expansion Plan (IGCEP) 2025-35, released by the Independent System & […]
Pakistan to Hand Over Islamabad Airport Operations to UAE Under G2G Deal
Pakistan has agreed to transfer operations of Islamabad International Airport to the United Arab Emirates, marking the first government-to-government outsourcing of a major state asset as part of a broader privatization and investment drive. Deputy Prime Minister and Foreign Minister Ishaq Dar chaired a Cabinet Committee on Inter-Governmental Commercial Transactions meeting Thursday that approved negotiations […]
Pakistan, Russia Eye Local Insulin Production in Three Years
Pakistan is set to launch joint insulin production with Russia in a bid to curb reliance on costly imports and expand access to essential medicines, Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan said after chairing a high-level meeting with the Drug Regulatory Authority of Pakistan (DRAP) and Russian officials […]
