Day: January 29, 2026

ISLAMABAD: Saudi Arabia’s Wafi Energy Pakistan Limited on Wednesday announced a strategic agreement with Hyundai’s official manufacturing partner in Pakistan to supply premium lubricants for Hyundai vehicles across the country. Wafi Energy, an affiliate of the Asyad Group, became the majority shareholder of Shell Pakistan Limited (SPL) in November 2024 and currently holds about 87.78 per cent of the company’s issued share capital. Shell Pakistan, one of the country’s oldest multinationals, operates a nationwide network of more than 600 retail sites, extensive storage facilities and a broad portfolio of globally…

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PESHAWAR: Khyber Pakhtunkhwa has completed 10 hydropower projects with a combined generation capacity of 224 megawatts, expected to generate annual revenue of around Rs13 billion for the province, Secretary Energy and Power Nisar Ahmad said on Wednesday. Presiding over a meeting, the secretary said that seven additional hydropower projects would be completed over the next two years, raising the province’s clean and low-cost energy capacity to about 1,000MW and increasing annual earnings to an estimated Rs55bn. He added that work was also underway on three flagship projects in Swat district,…

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KARACHI: K-Electric (KE) and Mega Motor Company (MMC), BYD’s partner in Pakistan, have signed a Memorandum of Understanding (MoU) for the provision of a dedicated 5MW power connection—scalable up to 7.5MW—to support BYD-MMC’s new energy vehicle (NEV) manufacturing operations in the country, which are scheduled to commence in 2026. Under the agreement, BYD-MMC will develop and finance a dedicated power supply arrangement, facilitated by K-Electric, to ensure reliable, flexible and uninterrupted energy availability as production volumes increase. The initiative is aimed at supporting BYD’s highly automated, technology-driven manufacturing processes in…

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ISLAMABAD: The debt burden on every Pakistani surged by 13 per cent to Rs333,000 during the last fiscal year, while public debt continued to pose a major challenge due to a widening budget deficit that exceeded the statutory limit by nearly Rs3 trillion, according to the annual Fiscal Policy Statement presented to Parliament. The Ministry of Finance reported that per capita debt rose from Rs294,098 in FY2023-24 to Rs333,041 in FY2024-25, reflecting an increase of about Rs39,000 within a year. The calculation is based on total public debt divided by…

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ISLAMABAD: Power Minister Sardar Awais Ahmed Khan Leghari on Wednesday withdrew an order that had deprived net-metered solar consumers of credit for electricity exported to the national grid, following widespread criticism and complaints. According to a statement issued by the Power Division, the minister took notice of the “non-crediting of units of net-metering consumers under PPMC instructions” and ordered an immediate review, resulting in the withdrawal of the directive. Informed sources said the Power Planning and Monitoring Company (PPMC) had earlier instructed distribution companies (Discos) and the Power Information Technology…

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