Day: January 3, 2026

Tesla Loses EV Crown to China’s BYD as Competition, Tax Credit Expiry Hit Demand

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New-Project114

Tesla has ceded its position as the world’s largest electric vehicle maker to China’s BYD after global deliveries fell for a second consecutive year, as intensifying competition, the expiry of US tax incentives and brand-related challenges weighed on demand. While global EV sales rose 28 per cent last year, BYD overtook Tesla on an annual basis for the first time, driven largely by rapid growth in Europe and expanding overseas sales. The development has raised questions over Tesla’s ability to stabilise its core auto business even as it pivots toward…

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Petroleum Product Sales Drop 5pc in December on Weaker HSD Demand

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Petrol-Diesel

KARACHI: Sales of petroleum products declined by 5.0 per cent in December 2025 compared with November, mainly due to weaker demand for high-speed diesel (HSD) amid a prolonged nationwide strike by goods transporters and subdued overall consumption. Industry sources said total petroleum product sales stood at 1.35 million tonnes in December, showing a 6.0 per cent increase year-on-year (YoY) but a 5.0 per cent decline month-on-month (MoM). The YoY growth was attributed to signs of economic recovery, easing inflation and improved control of fuel smuggling, while the MoM drop was…

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K-Electric Demonstrates Steady Operational and Digital Progress in 2025

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K-Electric

KARACHI: Amid a gradual return of economic stability in Pakistan, K-Electric (KE), the country’s only vertically integrated power utility, recorded steady progress across generation, transmission, distribution and supply during 2025, while continuing investments in digitisation and customer engagement. KE Chief Executive Officer Moonis Alvi said the utility remained committed to customer satisfaction and reliable service delivery for Karachi. “The revised MYT has presented new challenges, but we will balance the best of what we have to offer to both the city and the company,” he said. During peak summer in…

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Pakistan, Azerbaijan Near $2bn Investment Framework Agreement

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New-Project113

ISLAMABAD: Pakistan and Azerbaijan have moved closer to unlocking $2 billion in Azerbaijani investment as Deputy Prime Minister and Foreign Minister Ishaq Dar held talks on Friday with Azerbaijan’s Minister of Economy, Mikayil Jabbarov, to fast-track a framework for financing key sectors of Pakistan’s economy. According to Pakistan’s Foreign Office, the two sides agreed during a telephone conversation to finalize a mechanism that would enable Azerbaijani capital to flow into identified priority areas. The proposed investment is being viewed as a significant boost for Pakistan’s efforts to attract foreign inflows…

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Govt Extends Captive Power Gas Levy to Third-Party Suppliers

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Gas-Prices

ISLAMABAD: The federal government has approved the extension of the monthly levy rate applicable to captive power consumers of Sui Southern Gas Company Limited (SSGCL) and Sui Northern Gas Pipelines Limited (SNGPL) to consumers of third-party companies supplying gas to captive power plants. Sources said the decision was taken to ensure uniform application of the Off the Grid (Captive Power Plants) Levy Act, 2025, which was enacted and notified on June 10, 2025. The Act provides for the imposition and collection of a levy on natural gas or RLNG consumed…

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