Day: August 22, 2025

Wafi Energy Pakistan to Explore Investments in Oil Marketing Sector

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Wafi-Energy

KARACHI: Wafi Energy Pakistan Limited, formerly Shell Pakistan Limited, has announced that its board has authorised the management to explore potential investment and acquisition opportunities in the country’s oil marketing sector. The development was disclosed in a notice to the Pakistan Stock Exchange (PSX) on Friday, stating that the board, in its meeting held on August 21, granted in-principle approval for management to assess the feasibility and viability of such opportunities. Wafi Energy Pakistan, a publicly listed company incorporated in Pakistan, is majority-owned by Abu Dhabi-based Wafi Energy Holding Limited.…

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Discos Propose Rs23bn Refund for July as Power Costs Decline

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Power-Tariff

ISLAMABAD: Public sector power distribution companies (Discos) have sought approval from the National Electric Power Regulatory Authority (Nepra) to refund Rs1.69 per unit to consumers, amounting to around Rs23 billion, on account of lower fuel costs in July. The adjustment, if approved, will be reflected in electricity bills for August. According to the Central Power Purchasing Agency (CPPA), the decline in fuel costs was largely driven by improved hydrological conditions, with hydropower contributing 40% of generation in July compared to 36% last year. Overall power consumption, however, fell 5% year-on-year…

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ADB Approves $410m Financing Package for Barrick-Operated Reko Diq Project

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Reko-Diq

ISLAMABAD: The Asian Development Bank (ADB) will extend a $410 million financing package to support the development of Pakistan’s Reko Diq copper and gold mine, one of the world’s largest untapped mineral deposits, operated by Barrick Gold. According to sources, the financing package includes $300 million in loans to Barrick and a $110 million guarantee for the Government of Pakistan. The $6.6 billion project, located in Balochistan, is jointly owned — 50 percent by Barrick and the remaining stake by the federal and provincial governments. The Reko Diq mine is…

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Denmark and Pakistan Unite for a Greener Energy Future”

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New-Project30

Islamabad, August 21, 2025 – Denmark’s Chargé d’Affaires ad interim, Mr. Peter Emil Nielsen, hosted a dinner reception in honor of a high-level delegation from the Danish Energy Agency (DEA), led by Mr. Carl-Christian Munk-Nielsen. The event brought together key stakeholders, including Federal Minister for Climate Change, Dr. Musadik Masood Malik, Minister of State at the Ministry of Climate Change, Dr. Shezra Ali Khan, and Special Advisor to the Prime Minister on Power, Mr. Muhammad Ali. During the reception, Mr. Nielsen expressed condolences to the people of Pakistan for the…

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