Day: August 28, 2026

ISLAMABAD: Pakistan is set to benefit from a USD 400 million Asian Development Bank (ADB) regional facility to modernise border crossings and cut the mounting time and costs of moving goods and people across the Central Asia Regional Economic Cooperation (CAREC) trade corridors. The ADB has approved a USD 400 million regional financing facility to modernise border crossing points, lower transport and logistics costs, and improve the movement of people and goods across the CAREC region. According to project details, the facility comprises USD 320 million in ordinary capital resources…

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KARACHI: Petroleum Minister Ali Pervaiz Malik has assured Pakistan’s refinery industry of the government’s full support in securing financing and completing major refinery upgradation projects, including Pakistan Refinery Limited’s (PRL) proposed investment of up to $2 billion. The minister, accompanied by the Petroleum Secretary and senior officials, held a series of meetings with major refineries in Karachi on Thursday to review ongoing and proposed modernisation projects and discuss measures to achieve financial close. During his visit to PRL, the minister was briefed on the refinery’s proposed upgradation project, which is…

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ISLAMABAD: Saudi Arabia’s Asyad Group has expressed strong interest in participating in Pakistan’s upcoming airport privatisation process and is working to bring together Saudi and international partners with the required technical expertise. The Group has also reaffirmed its commitment to expanding its investment footprint in Pakistan across multiple sectors, including energy, infrastructure, financial services and other areas emerging through the government’s ongoing privatisation programme. Federal Minister for Finance and Revenue Muhammad Aurangzeb held a meeting with Ghassan Ahmed Amodi, Chief Executive Officer of Asyad Group, Saudi Arabia, and Chairperson of…

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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has refused to consider the government’s proposed review of the industrial incremental tariff package unless the Power Division first consults industry stakeholders and incorporates their concerns. The development comes as the government seeks to recover around Rs36.52 billion from electricity consumers in September through an additional fuel cost adjustment (FCA), largely driven by expensive LNG imports. A further increase in consumer costs is expected in October as higher RLNG prices are likely to push up power generation costs. At a public hearing…

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KARACHI: President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, Chairman National Business Group Pakistan and Chairman Policy Advisory Board FPCCI, Mian Zahid Hussain, has welcomed Prime Minister Shehbaz Sharif’s directions to expand and modernise the fleet of Pakistan National Shipping Corporation (PNSC), describing the initiative as a major step towards strengthening the country’s trade sovereignty, energy security and foreign exchange position. Mian Zahid Hussain said increasing Pakistan’s own shipping capacity was essential to reduce dependence on foreign shipping companies and contain the billions of dollars paid annually…

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