Day: April 30, 2026

12 IPPs with 2,577MW Capacity to Retire Over Next Decade: Power Division

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ISLAMABAD: The Power Division has announced that 12 Independent Power Producers (IPPs) with a combined capacity of 2,577MW are scheduled to retire over the next 10 years as part of Pakistan’s evolving power sector landscape. According to the ministry, IPP agreements are structured around commissioning timelines and system requirements, making it neither technically feasible nor commercially viable to terminate all contracts simultaneously. These agreements are typically reviewed upon completion, with some plants retiring while others may receive extensions to maintain grid stability and ensure reliable electricity supply. A spokesperson emphasized…

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Hydropower Output Hits 6,000MW, Easing Load Pressure: Power Division

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ISLAMABAD: Pakistan’s Power Division reported a notable improvement in electricity supply as hydropower generation reached 6,000MW during peak hours, against a total installed hydel capacity of 11,500MW. The increase in generation was supported by enhanced water flows and the availability of indigenous gas for power plants, which helped stabilize the national grid. According to officials, improved supply from the southern region contributed significantly, with around 500MW transmitted to the national grid and an additional 100MW added to overall system capacity. A spokesperson stated that limited load management of 25 minutes…

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EIB Eyes Stake in Reko Diq as Pakistan Clarifies Mineral Potential

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ISLAMABAD: The European Investment Bank (EIB) has expressed interest in investing in Pakistan’s multibillion-dollar Reko Diq Project, potentially in exchange for access to critical mineral supplies, as officials seek to attract foreign investment into the strategic mining sector. Speaking at the EU-Pakistan Business Forum, Dr. Nawaz Ahmed Virk, Director General of Minerals at the Ministry of Energy, dismissed claims that Pakistan holds $6 trillion worth of mineral reserves, calling the figure “highly exaggerated” and not based on comprehensive exploration. However, he emphasized that the country still possesses significant untapped mineral…

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US Backs $2.4 Billion Security Investment Proposal for Pakistani Airports

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ISLAMABAD: The administration of former US President Donald Trump has backed a $2.4 billion investment proposal by American firm Securiport to deploy advanced passenger screening systems at major airports across Pakistan. According to official documents, US Chargé d’Affaires Natalie A Baker has urged Pakistani authorities to consider the proposal, which aims to install Advanced Passenger Information (API) and Passenger Name Record (PNR) systems. These technologies would enhance border security by enabling real-time identification of criminal and transnational threats. The proposed system ensures secure data transfer from airlines to the government,…

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Production Curbs Dent OGDCL Profit Despite Strong Exploration Gains

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ISLAMABAD: Pakistan’s largest exploration and production company, Oil and Gas Development Company Limited, reported an 11% decline in profitability for the first nine months (July–March) of FY2025-26, primarily due to forced production curtailments and weaker global energy prices. The company posted a profit after tax of *Rs115.3 billion, down from Rs129 billion in the same period last year and Rs171 billion in FY2023-24. Net sales also slipped by 3.5% to *Rs300.1 billion, compared to Rs311 billion a year earlier. The Board of Directors approved a *third-quarter dividend of Rs3.25 per…

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