Author: Admin

PSX tumbles as fresh Middle East tensions revive energy supply concerns

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psx-down

The Pakistan Stock Exchange (PSX) came under heavy selling pressure on Wednesday as fresh attacks in the Middle East ended the relative calm of recent days in the US-Iran conflict, stoking fears over energy supply routes. According to the PSX website, trading opened on a bearish note, with the benchmark KSE-100 Index shedding over 1,600 points in the first few minutes. The decline deepened as the session progressed, with losses exceeding 1,900 points at one stage.  Selling was broad-based, hitting automobile assemblers, cement, chemicals, commercial banks, oil and gas exploration…

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Senate panel flags billions in capacity payments to idle IPPs as burden on consumers

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IPPS

The Senate Standing Committee on Cabinet Secretariat on Tuesday raised serious concerns over billions of rupees in capacity payments to non-operational Independent Power Producers (IPPs), calling the payments an unnecessary burden on electricity consumers. The committee, which met under the chairmanship of Senator Rana Mahmood Ul Hassan, unanimously called for accountability at NEPRA and decided to refer the matter of unauthorised increases in the salaries and allowances of its chairman and members to the Public Accounts Committee (PAC) for detailed examination. During a briefing on circular debt and capacity payments…

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Power division pins blame for circular debt on ‘Q Block’

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Power-sector

ISLAMABAD: The power division on Tuesday blamed the Ministry of Finance for a Rs61 billion increase in power sector circular debt, which rose to Rs1.675 trillion by June 30 this year from Rs1.614tr a year earlier. “Due to the budget deduction of Rs98bn, the circular debt witnessed an increase of Rs61bn” during FY2025-26, the power division said in a statement. It did not release the end-year financial report, which is pending regulatory and statutory approval. As such, the power sector circular debt, excluding K-Electric, concluded the fiscal year at Rs1.675tr.…

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K-Electric’s Thar Coal Initiative Paves the Way for Doubling Block-1 Mine Capacity and JPCL’s Full Conversion to Indigenous Coal by 2029

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New-Project270

Thar, July 28, 2026: A high-level stakeholder meeting was held at the Thar Block-1 mine site to advance discussions on the supply of indigenous Thar coal for the 660 MW Jamshoro Power Project. The meeting was attended by Chairman of K-Electric Limited (KE) Mr. Shaheryar Arshad Chishty, Managing Director of the Thar Coal Energy Board (TCEB) Mr. Tariq Ali Shah, Chief Executive Officer of Sino Sindh Resources Limited (SSRL) Mr. Li Jigen and Chief Executive Officer of Jamshoro Power Company Limited (JPCL) Mr. Muhammad Abdul Vakil, representatives of the Private…

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Wafi Energy Pakistan, NED University Join Hands to Support Young Entrepreneurs Through Startup Championship

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Wafi Energy

KARACHI: Wafi Energy Pakistan Limited, through its flagship social investment initiative Tameer, has partnered with NED University of Engineering & Technology to sponsor the regional round of the World Startup Championship – SEE Pakistan 2026, reinforcing its commitment to fostering entrepreneurship and innovation among Pakistan’s youth. According to a press release issued on Tuesday, the World Startup Championship is an annual international entrepreneurship competition and exhibition that provides students and young innovators with opportunities to transform innovative ideas into successful and sustainable businesses. The regional competition attracted more than 300…

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