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 […]
OGDCL Joins UN Global Compact to Promote Sustainable Development
Pakistan’s leading oil and gas exploration company, Oil & Gas Development Company Limited (OGDCL), announced Wednesday that it has officially joined the United Nations Global Compact (UNGC), the world’s largest corporate sustainability initiative, to promote sustainable development. By becoming a member of the UNGC, OGDCL aligns itself with a global network of more than 17,000 […]
Pakistan Refinery Advances Refinery Expansion with Strategic Talks in China
Pakistan Refinery Limited (PRL) is taking a significant step to enhance its refining capabilities through its Refinery Expansion & Upgrade Project (REUP). Senior management from PRL recently visited China to engage with Engineering, Procurement, and Construction (EPC) contractors and financial institutions. On November 16 last year, Pakistan Refinery Limited (PRL) signed an upgrade agreement with […]
Uprise Group Bids for PIA Privatization
The Uprise Group has thrown its hat into the ring for the privatization bid for the national flag career, Pakistan International Airlines (PIA), spearheaded by Pakistani seasoned entrepreneur Tabassum Pardesi. Pardesi, renowned for her pioneering role in the aviation industry, now leads the Uprise Group. This conglomerate encompasses Uprise Markets, Uprise Africa, and Uprise Aviation. […]
CCP approves Unity Foods acquisition by Singaporean firm
The Competition Commission of Pakistan (CCP) has granted approval to the share acquisition in Unity Foods company of Pakistan by four acquirers, including a Singapore-based investment holding company. The approved transaction involves the acquisition of a 23.20% shareholding in M/s. Unity Foods Limited by the four acquirers. One of the acquirers is M/s. Wilmar Pakistan […]
Government to Directly Assist Farmers with Fertilizer Subsidies
The government has unveiled a major policy shift to directly aid farmers by offering fertilizer subsidies, bypassing traditional channels that often favor manufacturers over recipients. Federal Energy Minister Musadak Malik announced the decision Thursday, citing concerns that much of the support meant for farmers ends up with factory owners rather than those working the land. […]
SECP Introduces Amendments to Companies (Further Issue of Shares) Regulations 2020
The Securities and Exchange Commission of Pakistan (SECP) has announced a series of amendments to the Companies (Further Issue of Shares) Regulations, 2020, after extensive consultations with stakeholders and the public. The SECP revealed Thursday the adoption of revised regulations aimed at simplifying the process of right issuance, bolstering disclosures in offer documents, and adjusting […]
Federal Minister Khan Urges Urgent Privatization of 15 to 20 Public Entities
Federal Minister for Privatization & Board of Investment Abdul Aleem Khan emphasized the urgent need for privatizing 15 to 20 institutions amid the current economic challenges, labeling loss-making entities as detrimental to the national economy. Khan, speaking outside Parliament on Thursday following his Senate vote, underscored that the persisting deficit of Pakistan International Airlines (PIA) […]
