Day: September 29, 2026

KARACHI: Pakistan’s LNG challenge has entered a more difficult phase, shifting from concerns over securing adequate supplies to the growing problem of obtaining imported gas at prices affordable for consumers, businesses and the wider economy. According to a report titled “LNG Supply Shock — From Contract Disruption to Energy-Cost Pressure” released by the Institute of Cost and Management Accountants of Pakistan (ICMAP), geopolitical disruptions in 2026 dramatically altered the country’s LNG outlook. Earlier expectations of an LNG surplus estimated at around $5.6 billion have given way to a sharp supply…

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KARACHI: Attock Refinery Limited (ATRL) plans to establish a new 50,000-barrels-per-day (bpd) deep-conversion refinery alongside its ongoing brownfield upgradation project, subject to securing sustainable supplies of locally produced crude oil from northern fields and receiving the required government support. According to ATRL’s annual report, the proposed deep-conversion refinery is part of the company’s longer-term strategy to strengthen its refining capacity and competitiveness. Meanwhile, ATRL’s Refinery Upgradation Project, enabled by amendments to the Refining Policy for Brownfield Refineries, involves an estimated investment of $600 million. The project is aimed at improving…

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KARACHI: Earnings of Pakistan’s listed power sector increased 14 per cent year-on-year (YoY) to Rs54.6 billion in FY26, supported by provisioning for late payment surcharge (LPS) and excess profits related to non-performing loans (NPL) and non-performing exposures (NEL) recorded in the same period last year. Lower finance costs, higher other income and increased contributions from associates also supported profitability, more than offsetting weaker core earnings following the termination of Hub Power Company’s (Hubco) base-plant power purchase agreement (PPA) from October 1, 2025. According to a report by Arif Habib Limited,…

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KARACHI: Shan A Ashary has resigned from the board of K-Electric Limited (KE), the power utility informed the Pakistan Stock Exchange (PSX) on Monday. Following his resignation, Sajjad Khan Pathan has been appointed as a director of the company, effective September 28, 2026. Ashary had served as a non-executive director of K-Electric since the company’s privatisation in November 2005, completing more than two decades on its board. He is a senior executive with over 40 years of experience in international investment management, operations of large diversified business groups, finance, treasury,…

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ISLAMABAD: Federal Minister for Information Technology and Telecommunication Shaza Fatima Khawaja has encouraged Huawei to explore establishing a research and development (R&D) centre in Pakistan as part of efforts to expand technology investment, knowledge transfer and skilled employment in the country. The minister made the remarks during a visit to Huawei’s Global Service Centre (GSC) in Islamabad, where she received a briefing on its operations, toured the facility and interacted with Pakistani engineers and technology professionals supporting Huawei’s global ICT operations. She was received by Ethan Sun, CEO Huawei Pakistan,…

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