Year: 2026

ADB Unveils $70bn Plan to Transform Energy and Digital Connectivity Across Asia-Pacific

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Asian-bank

ISLAMABAD: The Asian Development Bank has announced an ambitious $70 billion initiative to strengthen energy integration and digital connectivity across the Asia-Pacific region by 2035, aiming to enhance cross-border electricity trade, modernise power grids, and expand broadband access. The announcement was made during the bank’s annual meeting held in Samarkand from May 3 to 6. ADB President Masato Kanda emphasized that energy and digital access would be critical drivers of the region’s future growth, competitiveness, and connectivity. The initiative comprises two major components: a $50 billion Pan-Asia Power Grid Initiative…

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Minister Moves to Resolve Investor Concerns After Chinese Firm’s Shutdown Threat

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New-Project48

QUETTA: Federal Minister for Planning and Development Ahsan Iqbal has taken swift action to address concerns raised by a Chinese company that recently announced plans to shut down its operations in Pakistan, including a factory in Gwadar. The company, Han Geng Group, had cited persistent administrative challenges, policy inconsistencies, and non-market obstacles as key reasons behind its decision. It also highlighted difficulties in securing export approvals despite meeting international food safety standards and complying with Chinese customs requirements. Taking serious notice of the situation, Prime Minister Shehbaz Sharif and the…

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The US is planning to attempt freeing trapped ships, with 400 vessels stuck

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The Strait of Hormuz

The Strait of Hormuz is a major concern right now. The US is planning to attempt freeing trapped ships, with 400 vessels stuck, and any intervention might lead to a strong reaction from Iran. This could escalate tensions and impact global oil prices, which are already high at $125 per barrel due to the blockade. The strait is a critical chokepoint, handling around 20 million barrels of oil daily, about 20% of global consumption. If it remains closed, prices could surge further, affecting economies worldwide, especially those reliant on Gulf…

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Refineries Suffer Rs24 Billion Loss in April Amid Pricing Disputes and Rising Import Costs

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Refineries-Urge

ISLAMABAD: Pakistan’s oil refining sector has reported a massive loss of Rs24 billion in April 2026, as industry players grapple with what they describe as an “artificial and misleading” pricing cap imposed under a government-backed fuel pricing mechanism. At the centre of the issue is the government’s decision to fix the diesel crack spread at $41.5 per barrel. Refinery officials argue that this benchmark does not reflect actual market conditions, where the crack spread stood closer to $60 per barrel by the end of April, based on higher global diesel…

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Energy Sector Urged to Accelerate Digitalisation and Cyber Defences: Kaspersky

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New-Project47

ISLAMABAD: Global cybersecurity firm Kaspersky has warned that energy organisations in Pakistan must urgently strengthen their cyber resilience as rapid digitalisation transforms the sector over the next two years. According to a joint Kaspersky–VDC report titled “Powering Cyber Resilience in the Energy Sector,” fewer than 5% of energy companies are currently fully digitalised. However, this figure is expected to surge to nearly 75% within two years, marking what the report describes as a “digital big bang” across power generation, transmission, and distribution systems. While digital transformation promises improved efficiency, reliability,…

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