Day: October 1, 2026

Kohinoor Energy, Chinese firm plan battery manufacturing in Pakistan

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Kohinoor Energy Limited (KEL), an Independent Power Producer in the energy sector, and China’s Hebei Juhang Energy Technology Group have signed a non-binding memorandum of understanding to explore a joint venture in Pakistan for the assembly and manufacturing of lithium-ion battery packs and battery energy storage systems. The company disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Thursday. “On 1st day of October 2026, KEL and Hebei Juhang Energy Technology Group Co., Ltd. (Juhang), a company incorporated in the People’s Republic of China, entered into…

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Dozens reportedly killed as Yemeni forces battle major Houthi offensive in Taiz

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AL-MUKALLA: At least 30 Houthis were reportedly killed over the past 24 hours in Yemen’s Taiz province after government forces repelled what officials described as the largest and most coordinated offensive by the Iran-backed group against government-held areas of the province in years. Heavy mortar fire by the Houthis targeting government-controlled areas across much of Taiz began on Wednesday night, before the group launched ground assaults that triggered fierce fighting with government troops and allied local resistance fighters. Col. Abdul Basit Al-Baher, a Yemeni army officer in Taiz, told Arab…

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Pakistan’s solar boom adds pressure on Chinese-backed coal plants: report

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Pakistan’s rapid shift towards solar power is creating a new challenge for the country’s troubled power sector, as cheaper distributed generation reduces demand for grid electricity, strains utilities’ finances and threatens the repayment economics of Chinese-backed coal-fired power plants, reported Bloomberg on Thursday. According to the report, about an hour’s drive east of Karachi, the country’s economic hub, solar panels now cover rooftops across an industrial zone of about 400 companies at Port Qasim, alongside a coal-fired power station built as part of China’s Belt and Road Initiative. “There are…

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Govt hikes petrol by Rs3.26, cuts diesel price by Rs1.01 per litre

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The federal government on Thursday increased the price of petrol by Rs3.26 to Rs390.66 per litre, while reducing high-speed diesel (HSD) by Rs1.01 to Rs399.34 per litre, effective October 2, 2026. According to a press release issued by the Petroleum Division, the Oil and Gas Regulatory Authority (OGRA) revised the ex-depot prices under the petroleum pricing mechanism notified by the federal government. The price of motor spirit (petrol) was revised from Rs387.40 per litre to Rs390.66, while the price of HSD was reduced from Rs400.35 to Rs399.34 per litre. The…

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Export Sector Faces Collapse if Buyer Commitments Fail – FPCCI Warns of Devastating Impact

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Karachi: President of Pakistan Businessmen and Intellectuals Forum and former Chairman FPCCI, Mian Zahid Hussain, has warned that if Pakistani exporters fail to honor their commitments to international buyers and orders are canceled, it will have a devastating and long-term impact on the country’s export sector. He pointed out that the Ministry of Energy and the Petroleum Division have previously procured LNG cargoes from the spot market. Given the current critical gas shortfall, there is no alternative but to immediately purchase spot LNG cargoes from the international market to maintain…

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