Day: June 29, 2026

ISLAMABAD: In a major step toward strengthening Pakistan’s clean energy and advanced manufacturing sectors, Pakistani industrial conglomerate Saigol Group and China’s Juhang Energy Technology Group have signed a Memorandum of Understanding (MoU) to establish local manufacturing of lithium-ion batteries in Pakistan. The agreement, announced on Sunday, is expected to reduce Pakistan’s reliance on imported energy storage systems while supporting the country’s transition toward renewable energy. Speaking at the signing ceremony, Prime Minister’s Adviser on Industries and Production Haroon Akhtar Khan described the partnership as another milestone in the growing economic…

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ISLAMABAD: The government’s decision to keep petroleum prices unchanged despite a decline in global oil prices has drawn sharp criticism from opposition leaders, analysts, and industry observers, prompting Petroleum Minister Ali Pervaiz Malik to defend the policy. Responding to growing public criticism, the minister shared a chart of international crude oil prices on social media, asserting that the government remains committed to passing on every possible benefit to consumers while honoring Pakistan’s international commitments. “The government is neither favoring one sector nor unfairly burdening another,” Malik said, adding that Prime…

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LAHORE: Pakistan’s economy is facing mounting pressure from a prolonged global energy price shock that has slowed economic growth, accelerated inflation, widened external imbalances, and increased poverty, according to a new quarterly report released by the Modelling Lab of the Innovation and Technology Centre at the Lahore School of Economics (LSE). The report, covering the fourth quarter of FY2025-26, was prepared by Dr. Moazam Mahmood, Professor of Economics; Dr. Azam Amjad Chaudhry, Dean of the Faculty of Economics; Amna Noor Fatima, Manager and Data Analyst at the Modelling Lab; and…

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ISLAMABAD: Pakistan has launched an international investment campaign to attract foreign investors for the privatization of three major power distribution companies (DISCOs)—Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO), and Gujranwala Electric Power Company (GEPCO). However, concerns over delayed payments to Chinese Independent Power Producers (IPPs) under the China-Pakistan Economic Corridor (CPEC) are expected to dominate discussions with prospective investors. A high-level delegation led by the Prime Minister’s Adviser on Privatisation, Muhammad Ali, has begun the outreach initiative with a visit to Türkiye and is scheduled to continue…

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ISLAMABAD: The federal government has reconstituted the Board of Directors of Pak-Arab Refinery Company (PARCO), retaining a federal minister and most of the existing bureaucrat-directors for another three-year term despite ongoing debates over governance reforms and board appointments in state-linked enterprises. Under the new board composition approved by the federal cabinet, Pakistan has nominated six directors, while the remaining four seats are held by representatives of the United Arab Emirates, which owns a 40% stake in the company. Of the six Pakistani nominees, five existing directors have been reappointed, with…

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