Day: September 21, 2026

ISLAMABAD: The federal government’s debt increased by Rs37,307 billion during the combined period of Prime Minister Shehbaz Sharif’s first and current tenures, according to figures attributed to the State Bank of Pakistan (SBP). The reported increase over nearly three years and nine months was substantially higher than the Rs18,323 billion increase recorded during the approximately three-year-and-nine-month tenure of the Pakistan Tehreek-e-Insaf (PTI) government. According to the data, the federal government’s debt increased by Rs18,764 billion during Shehbaz Sharif’s first tenure from April 2022 to July 2023, spanning 16 months. During…

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LAHORE: Federal Minister for Petroleum Ali Pervaiz Malik has said the government is taking all possible measures to ensure uninterrupted availability of petroleum products and provide relief to economically vulnerable segments amid a sharp rise in international oil prices. Speaking to reporters, the minister said the region was passing through a highly sensitive period, with the ongoing conflict and attacks on Saudi Arabia affecting global oil supplies and prices. He said Pakistan had already been facing pressure from high fuel prices for several months, while international diesel prices had reached…

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ISLAMABAD: The government has taken a major step towards transforming Pakistan’s power sector from the existing single-buyer model to a competitive electricity market, with industrial and large consumers set to gain the ability to purchase electricity directly from power producers. Federal Minister for Power Sardar Awais Ahmad Khan Leghari, in a video message, said the government was practically moving out of traditional electricity procurement and would no longer have the role of centrally purchasing electricity from producers and selling it to consumers under the existing model. The new mechanism will…

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KARACHI: Engro Holdings Limited has announced the appointment of Mr. Junaid Iqbal as the successor to Mr. Ahsan Zafar Syed as President and Chief Executive Officer of Engro Corporation Limited. Mr. Junaid Iqbal, who currently serves as Advisor to the CEO of Engro Holdings, has been approved by the Board of Directors of Engro Corporation to become President and CEO upon the completion of Mr. Ahsan Zafar Syed’s current term in April 2027. The leadership transition is part of Engro’s succession planning and reflects the company’s vision for its next…

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LAHORE: Pakistan’s rapidly expanding solar energy sector, investment opportunities in solar photovoltaic (PV) and Battery Energy Storage Systems (BESS), evolving net-metering policies and the challenges facing the renewable energy industry will come under discussion at the 3rd International SolarPower Conclave & Solar Technology Excellence Awards 2026, scheduled to be held on September 24, 2026, in Lahore. Organised by Energy Update, the conclave will bring together policymakers, government representatives, energy experts, solar industry leaders, technology providers, investors, consultants and other stakeholders to discuss the changing dynamics of Pakistan’s energy sector and…

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