Day: February 6, 2026

Barrick Reviews Reko Diq Project as Security Risks Escalate in Balochistan

Admin
Reko-Diq

LONDON: Global mining giant Barrick Mining has announced a comprehensive review of its Reko Diq gold and copper project in Balochistan, citing heightened security concerns in the region. Speaking during a post-earnings call, Barrick Chief Executive Officer Mark Hill said the company’s board is reassessing all aspects of the project, including security arrangements, development timelines and capital allocation, following a recent rise in security incidents in the province. Barrick said the review would commence immediately and that the company would provide an update once the process is completed. The move…

Read More

PSO’s Rs30bn Receivables from PIA Remain Unsettled Despite Privatisation

Admin
PSO-PIA

ISLAMABAD: Pakistan State Oil (PSO) continues to face a major financial strain as receivables of around Rs30 billion remain stuck with Pakistan International Airlines (PIA), following the airline’s failure to transfer a pledged real estate asset to settle outstanding dues. PSO had sought the transfer of PIA’s Islamabad real estate as settlement against unpaid jet fuel supplies. However, despite the completion of PIA’s privatisation process, the agreed asset has yet to be handed over. A PSO spokesperson told The Express Tribune that no property has been transferred so far, adding…

Read More

Moonis Alvi Resigns as K-Electric CEO

Admin
Moonis-Alvi

KARACHI: K-Electric (KE) Chief Executive Officer Moonis Alvi has tendered his resignation, the company informed the Pakistan Stock Exchange (PSX) in a formal disclosure on Thursday. “Syed Moonis Abdullah Alvi has tendered his resignation from the position of Chief Executive Officer (CEO) of K-Electric Limited,” the filing said, submitted in accordance with the Securities Act, 2015, and PSX regulations. The exchange was requested to disseminate the information to all relevant stakeholders. Confirming the development in a post on X, Mr Alvi said he had decided to step down, calling it…

Read More

Pakistan Must Create 30m Jobs in Next Decade to Avoid Instability: World Bank President

Admin
World-Bank

ISLAMABAD: Pakistan needs to generate 25 to 30 million jobs over the next decade to turn its growing youth population into an economic dividend, failing which the country risks social instability and increased outward migration, World Bank President Ajay Banga has warned. Speaking in an interview with Reuters during his visit to Pakistan, Mr Banga said the country must create around 2.5 to 3 million jobs annually as millions of young people enter the workforce. “Job creation is the North Star,” he said, describing employment generation as a long-term, binding…

Read More

Kazakh Firm Eyes $20m Investment in Placer Gold Mining in Gilgit-Baltistan

Admin
New-Project51

ISLAMABAD: Kazakhstan-based Elaman Group has expressed keen interest in investing $20 million in placer gold mining in Gilgit-Baltistan, following the completion of preliminary studies that identified strong exploration and development potential in the region. The proposed investment was conveyed by an Elaman Group delegation during a meeting with Minister for the Board of Investment (BoI) Qaiser Ahmed Sheikh in Islamabad. Discussions focused on opportunities in Pakistan’s mining sector, with particular emphasis on placer gold exploration in Gilgit-Baltistan. The Kazakh delegation was led by Azamat Utegenov, Founder and Managing Partner of…

Read More