Day: July 29, 2026

KARACHI: Wafi Energy Pakistan Limited, through its flagship social investment initiative Tameer, has partnered with NED University of Engineering & Technology to sponsor the regional round of the World Startup Championship – SEE Pakistan 2026, reinforcing its commitment to fostering entrepreneurship and innovation among Pakistan’s youth. According to a press release issued on Tuesday, the World Startup Championship is an annual international entrepreneurship competition and exhibition that provides students and young innovators with opportunities to transform innovative ideas into successful and sustainable businesses. The regional competition attracted more than 300…

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LAHORE: Quaid-e-Azam Solar Power (Private) Limited (QASPL) has achieved a major financial milestone by presenting an interim dividend of Rs2 billion to the Government of Punjab for FY2026-27, marking a new benchmark for public-sector renewable energy projects in Pakistan. The dividend underscores QASPL’s transformation from a power-generating entity into a profitable public-sector enterprise contributing directly to the provincial exchequer. The funds will be utilized for public welfare initiatives, development projects, and relief programs across Punjab. Punjab Minister for Energy Malik Faisal Ayub Khokhar described the achievement as a “historic milestone”…

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ISLAMABAD: Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar Khan has reaffirmed the government’s commitment to private sector-led economic growth, describing the Islamabad Chamber of Commerce and Industry (ICCI) Business Opportunity Conference in Istanbul as a key step toward boosting bilateral trade with Türkiye to $5 billion. Speaking at a press conference hosted by the ICCI on Tuesday, Khan said the conference, scheduled for August 13 in Istanbul, will provide a valuable platform to strengthen economic cooperation between the two countries. He announced that he…

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ISLAMABAD: The federal government has acknowledged that Pakistan’s power sector circular debt increased by Rs61 billion during fiscal year 2025-26, attributing the rise primarily to reduced budgetary allocations rather than a decline in sector performance. In an official statement issued on Tuesday, the Power Division said the government had committed to the International Monetary Fund (IMF) to contain the circular debt stock at Rs1.614 trillion by June 30, 2026. According to the ministry, the power sector achieved a major reduction in circular debt during FY2024-25, bringing it down from Rs2.393…

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ISLAMABAD: The Senate Standing Committee on Cabinet Secretariat has voiced serious concern over billions of rupees in capacity payments being made to non-operational Independent Power Producers (IPPs), describing the practice as an unnecessary financial burden on electricity consumers. During a meeting chaired by Senator Rana Mahmood Ul Hassan on Tuesday, the committee also criticized the National Electric Power Regulatory Authority (NEPRA) and certain IPPs for allegedly undermining the government’s solar energy policy. Members unanimously called for greater accountability, directed a comprehensive performance audit of NEPRA, and decided to refer the…

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