Month: January 2024

PM says govt, KE to ensure smooth power supply to Karachi

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Anwaarul-Haq

ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar said on Monday that an uninterrupted power supply to Karachi will be ensured with mutual cooperation of the government and K-Electric. According to the Prime Minister’s Office, Kakar stated this while talking to a delegation of K-Electric led by Monis Abdullah Alvi, chief executive officer of Karachi Electric (KE) which met with the premier and thanked him for solving the long-standing problems of KE. The delegation thanked the Prime Minister for the Rs390 billion investment plan for K-Electric and approval of rates (tariff) for…

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Discos likely to be put under army’s microscope

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Power-generation

ISLAMABAD: The Federal Cabinet is all set to approve establishment of Performance Management Units (PMUs) in five high loss-making power Distribution Companies (Discos) under a serving Brigadier of Pak Army as dismal performance of Discos has made the sector unsustainable, sources close to caretaker Minister for Power and Petroleum told Business Recorder. The Federal Cabinet which is scheduled to meet on Tuesday (today) will consider the proposal, prepared in the light of a decision of Apex Committee (AC) of Special Investment Facilitation Council (SIFC). Sharing the details, sources said, after unbundling…

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Engro eyes telecom towers, construction materials

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624387-engro-1383074199

Research predicts company shares to hit Rs490 by Dec 2024 Engro Corporation, a conglomerate of companies, is set to expand primarily in shared mobile phone towers and construction material businesses, anticipating a potential reduction in borrowing costs from banks. The conglomerate’s flagship fertiliser manufacturing project is expected to benefit from the Petroleum Policy 2012, enabling it to pass on the impact of expensive gas to end-consumers. However, Engro is currently in negotiations to sell part of its shareholding in the thermal energy business to Liberty Power, with the deal estimated…

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Shrinking global GDP will compound Pakistan’s problems.

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New-MZH

Special attention be given to inflation, rupee and rising debt Direction of economy should be corrected: Mian Zahid Hussain Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain said on Monday that some economic sectors will be hit as the world GDP declines. Policymakers should take action to tackle the situation, with a special focus on rising debt, inflation, and the value of the rupee, he said. The economy should be headed in the right…

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