Day: October 24, 2026

ISLAMABAD: The estimated cost of Pakistan’s under-construction Mohmand Dam has surged to Rs666 billion, marking a 115 per cent increase from the original Rs310 billion approved in 2018, largely due to rupee depreciation, design changes, flood damage and security-related delays. The revised project cost was presented to the Central Development Working Party (CDWP) this week. However, the forum deferred consideration of the proposal due to a shortage of time, according to federal government officials. The project’s revised cost will require further scrutiny before consideration by the Executive Committee of the…

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ISLAMABAD: The Water and Power Development Authority (WAPDA) and the Special Communications Organization (SCO) have signed two agreements worth a combined Rs14.06 billion for the development of Safe City projects in Dasu and Chilas. The signing ceremony was held at WAPDA House and witnessed by WAPDA Chairman Lt Gen Muhammad Saeed (Retd) and SCO Director General Maj Gen Sajjad Haider Khan. WAPDA Member (Water) Asim Rauf Khan, Diamer Basha Development Company Chief Executive Officer Dr Nazakat Hussain, and senior officials from both organisations also attended the ceremony. The agreement for…

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ISLAMABAD: Petroleum dealers have urged consumers to avoid panic buying, warning that excessive fuel purchases could create artificial shortages and disrupt market stability, even as talks between Jamaat-i-Islami (JI) and the government over reducing the petroleum levy remain inconclusive. Pakistan Petroleum Dealers Association (PPDA) Chairman Malik Khuda Baksh told reporters on Friday that the balance between fuel supply and demand had been maintained through coordination among the government, industry and consumers. He said the recent closure of the Iran border had put the liquefied petroleum gas (LPG) market under pressure,…

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ISLAMABAD: Oil and Gas Development Company Limited (OGDC) has secured first place among 104 publicly listed companies in Pakistan in Transparency International Pakistan’s 2026 corporate reporting assessment, scoring 92.71 per cent and earning a place in the “Significantly Transparent” category. The state-owned energy company’s score was substantially higher than the overall average of 66.73 per cent. OGDC achieved perfect scores of 100 per cent in anti-corruption programmes, organisational transparency, domestic financial reporting, and gender equality, non-discrimination and disability inclusion. The ranking reflects the company’s disclosure of corporate governance practices, financial…

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ISLAMABAD: Global oil prices have surged to their highest levels since May, intensifying concerns over inflation, fuel costs and economic growth as escalating tensions in the Middle East threaten energy supplies and disrupt international shipping. The rally has weighed on financial markets in Pakistan, India, the United States and the United Kingdom, while uncertainty surrounding liquefied natural gas (LNG) supplies has heightened risks for energy-importing economies. Brent crude climbed to $115 per barrel, while US West Texas Intermediate (WTI) approached $101, according to the supplied market data. The increases reflect…

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