Year: 2025

Sindh Moves to Appoint Transaction Advisor for Transfer of Two Power Discos

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Power-Tariff

ISLAMABAD: The Sindh government has decided to appoint a Transaction Advisor to oversee the transfer of ownership of two Sindh-based power distribution companies — Hyderabad Electric Supply Company (HESCO) and Sukkur Electric Power Company (SEPCO) — to the provincial government under a long-term concession model, following comprehensive due diligence, official sources told Business Recorder. The decision was formally conveyed to the Power Division in response to a letter from Secretary Power Division, Dr. Fakhre Alam Irfan. In January 2025, Prime Minister Shehbaz Sharif had directed the Power Division to pursue…

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EIT GOVERNING BOARD APPROVES €978 MILLION FOR EUROPEAN INNOVATION AND SKILLS

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New-Project52

 Budapest, 3 October 2025 – The European Institute of Innovation and Technology (EIT) has announced that its Governing Board has approved an allocation of €978 million to boost innovation, entrepreneurship, and skills development across Europe for the period 2026–2028. The EIT’s largest-ever funding round secures fresh resources for six Knowledge and Innovation Communities (KICs), and joint activities such as the EIT Higher Education Initiative – reinforcing the EIT’s position as Europe’s largest innovation ecosystem. The decision reflects both the performance of the KICs and their alignment with EU policy priorities such as the…

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Pakistan Refineries to Export 130,000 Tonnes of Furnace Oil in October

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Refineries-Face

KARACHI: Three Pakistani refineries will export a combined 130,000 tonnes of furnace oil in October, following approval from the Oil and Gas Regulatory Authority (Ogra). According to Ogra’s approval letter, Cnergyico Pakistan Limited (CPL) will ship 55,000 tonnes, Pak-Arab Refinery Limited (Parco) 50,000 tonnes, and Pakistan Refinery Limited (PRL) 25,000 tonnes. The move underscores a steep decline in domestic demand, with industry officials reporting that nearly 95% of furnace oil output is now exported. Average daily production stands at around 6,400 tonnes, translating to nearly 200,000 tonnes per month. Officials…

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Pakistan’s Solar Boom Sparks Tensions with Debt-Strapped Government

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solar energy

ISLAMABAD: Rooftop solar has become a vital lifeline for millions of Pakistanis grappling with soaring power bills and frequent blackouts. But the rapid shift to clean energy is now straining the government’s ability to repay mounting power sector debts, Bloomberg reported Friday. Pakistan’s power model relies on buying electricity from generators and selling it to consumers. Yet chronic inefficiencies mean sales are made at a loss — a problem worsened as households and businesses increasingly generate their own power. Declining collections threaten repayments to key creditors, including China. In response,…

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Pakistan’s Trade Deficit Soars 46% in September to $3.3bn as Imports Rise, Exports Shrink

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Pakistan-Trade

ISLAMABAD: Pakistan’s trade deficit widened sharply by nearly 46% year-on-year in September 2025, hitting $3.34 billion as imports surged and exports contracted, raising fresh concerns over external sector stability. According to Pakistan Bureau of Statistics (PBS) data, imports climbed 14% to $5.85 billion, while exports fell 11.7% to $2.5 billion compared with the same month last year. On a monthly basis, the deficit expanded 16.3% versus August. For the first quarter of FY26 (July–September), the trade gap rose 32.9% to $9.37 billion. Imports during the three months stood at $16.97…

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