Day: June 16, 2026

ISLAMABAD: The federal government has announced an ambitious plan to establish local manufacturing of solar panels and energy storage batteries as part of a broader strategy to strengthen domestic industry, accelerate the clean energy transition, and reduce dependence on imports. Speaking on ARY News programme On My Radar, Special Assistant to the Prime Minister on Industries and Production, Haroon Akhtar Khan, said the government is finalising a comprehensive solar energy policy aimed at transforming Pakistan’s renewable energy sector from basic assembly operations to full-scale manufacturing and technology development. He said…

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LAHORE: Punjab Chief Minister Maryam Nawaz Sharif has reiterated her government’s commitment to exploring alternative and renewable energy sources, stating that wind power can play a key role in meeting the province’s future energy needs. In her message on World Wind Day, she said wind energy represents a sustainable and environmentally friendly solution that must be fully harnessed to meet growing electricity demand while reducing dependence on conventional fuels. She highlighted that the Thal region in Punjab holds significant potential for wind energy generation and stressed the need to fully…

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KARACHI/LAHORE: The electric vehicle (EV) industry has welcomed the federal government’s expanded tax and customs-duty incentives announced in Budget 2026-27, describing them as a positive step toward cleaner transport, reduced fuel imports, and strengthened local manufacturing. However, stakeholders have urged policymakers to establish a longer-term, predictable policy framework to sustain investment and accelerate sector growth. The budget continues a broad range of concessions for electric passenger and commercial vehicles, manufacturing inputs, and charging infrastructure, reflecting the government’s commitment to energy transition, environmental sustainability, and industrial localisation. Under the new measures,…

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ISLAMABAD: Pakistan’s power sector circular debt flow rose to Rs1.857 trillion during the first ten months of FY2025-26, primarily due to delayed government subsidy payments and mounting receivables from K-Electric. However, authorities maintain that the overall circular debt stock is expected to remain unchanged by the end of the fiscal year. According to official figures, circular debt flow increased by Rs240 billion from Rs1.614 trillion recorded in June 2025. Despite the rise, the debt burden has declined significantly on a year-on-year basis, falling by Rs557 billion from Rs2.41 trillion in…

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HONG KONG: Global equity markets mostly extended gains on Tuesday, while oil prices remained largely stable after a sharp decline triggered by optimism surrounding the recently announced US-Iran peace agreement, which is expected to reopen the strategically vital Strait of Hormuz. Investor sentiment remained positive following Monday’s strong rally, fueled by expectations that the agreement could bring an end to more than three months of conflict that disrupted global energy supplies, heightened geopolitical tensions, and contributed to inflationary pressures worldwide. Attention is now focused on a formal signing ceremony scheduled…

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