Year: 2025

WASHINGTON: Former US President Donald Trump has claimed that Washington and Islamabad have struck a “massive oil deal,” yet energy experts stress there is no evidence to support the existence of large untapped reserves in Pakistan, The Guardian reported. Trump hosted Prime Minister Shehbaz Sharif and Army Chief Asim Munir at the White House this week, praising them as “great leaders.” The renewed engagement comes as Pakistan highlights its mineral and energy potential to lure US investment. In July, Trump said on Truth Social that the US and Pakistan would…

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LAHORE: Punjab Chief Minister Maryam Nawaz met with German Ambassador to Pakistan Ina Lepel on Monday, reaffirming Pakistan-Germany partnership in climate action, trade, education, and human development. The CM lauded Germany’s support in modern agricultural technology, green innovation, forestation, and vocational training, highlighting opportunities for greater collaboration at the provincial level. She noted that bilateral trade reached US$3.63 billion in 2024, with Pakistan enjoying a positive balance, and 40 German companies already contributing to job creation in the country. “Germany is a long-standing partner of Pakistan in tackling climate change,…

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HONG KONG: Chinese electric vehicle giant BYD expects exports to account for about 20% of its global sales in 2025, buoyed by new model launches and expanded shipping capacity, the South China Morning Post reported on Monday. The company forecasts between 800,000 and 1 million deliveries outside mainland China next year, against projected total sales of 4.6 million units. That figure reflects a cut of up to 16% in BYD’s 2025 sales target, as reported by Reuters earlier this month, amid slowing growth and signs that the EV maker’s rapid…

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KARACHI: Power Cement Limited (PCL) and Burj Clean Energy Modaraba (BCEM) have signed Pakistan’s first-ever green captive power transaction — a landmark Rs1.5 billion deal to set up a 7.5MW wind captive power plant. According to a filing at the Pakistan Stock Exchange (PSX) on Monday, the project marks a major step in Pakistan’s industrial decarbonization drive and transition to sustainable energy. The initiative is being financed through a consortium led by The Bank of Punjab (BOP), with participation from the National Bank of Pakistan (NBP) and Pak Kuwait Investment…

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ISLAMABAD: Contractors of the World Bank–funded Islamabad–West Grid Station (IWGS) project have served suspension notices citing the National Grid Company’s (NGC), formerly NTDC, alleged failure to meet contractual obligations, well-placed sources told Business Recorder. In a formal notice under contract WB-DTLP-IWGS/2024, the Joint Venture (JV) of NWEPDI–TBEA accused the Employer of non-performance and outstanding reimbursements. The World Bank Resident Mission and the Ministry of Economic Affairs have also conveyed the matter to the Power Division. The JV — comprising Northwest Electric Power Design Institute Co. Ltd. of China Power Engineering…

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