Author: Admin

Engro Energy Denies Breach, Terminates EPQL Share Sale After Acquirer’s Exit

Admin
Engro Powergen Qadirpu

Engro Energy Limited (EEL), the parent company of Engro Powergen Qadirpur Limited (EPQL), has officially denied any breach of contract and terminated the share purchase agreement (SPA) for EPQL following the acquirer’s withdrawal. In a notice to the Pakistan Stock Exchange (PSX), EEL addressed the termination of the SPA signed with Liberty Power Holdings Limited and its consortium—Liberty Mills Limited, Soorty Enterprises, and Procon Engineering via Master Group of Industries—for the sale of EEL’s 68.9% shareholding in EPQL. The acquirers had initially issued a public announcement of intention on December…

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Govt Confirms Implementation of Electricity Relief Package Amid Misinformation

Admin
Electricity-Price

ISLAMABAD: Power Division spokesperson Zafaryab Khan on Sunday reaffirmed that the electricity relief package announced by Prime Minister Shehbaz Sharif is fully in effect, dismissing circulating reports denying its implementation as “false and misleading.” Speaking to a private news channel, Khan stated that claims of no change in electricity tariffs were baseless and aimed at creating public confusion. “Certain elements are deliberately spreading misinformation, distorting facts, and misrepresenting the government’s official stance,” he said. He clarified that the tariff cut—announced by the Prime Minister to ease the financial burden on…

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Centre Commits Full Financial Backing for Reko Diq Phase-II, Addresses Key Balochistan Demands

Admin
Reko-Diq

ISLAMABAD: The federal government has pledged complete financial support for Phase-II of the Reko Diq project, reaffirming its commitment under the existing agreement with the Balochistan government. During a recent visit to Quetta, Petroleum Minister Ali Pervaiz Malik—part of a delegation led by Finance Minister Senator Muhammad Aurangzeb—assured the Balochistan leadership of the Centre’s cooperation. The Economic Coordination Committee (ECC) has already approved proposals related to the project, which are under negotiation with stakeholders. Chief Minister Sarfraz Bugti submitted several provincial concerns, including a request for a one-time amnesty on…

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Power Restored to Makran After 24-Hour Blackout Due to Iranian Supply Disruption

Admin
Power genration

GWADAR: Electricity supply to the Makran division — encompassing Gwadar, Turbat, and Panjgur — was fully restored on Sunday after a 24-hour outage caused by a disruption in power transmission from Iran. The blackout occurred following the suspension of supply through two 132kV transmission lines that connect Iran to Pakistan’s coastal region. The affected areas included key grid stations at Mand, Tump, Turbat, Hoshab, Panjgur, Jiwani, Gwadar Door, Gwadar Deep Sea Port, New Gwadar International Airport, Pasni, and Ormara. A spokesperson for the Quetta Electric Supply Company (Qesco) confirmed that…

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PPL Gears Up for Gas Exploration as Efforts Begin to Contain Korangi Blaze

Admin
New-Project55

KARACHI: Pakistan Petroleum Limited (PPL) is preparing to launch a full-scale operation to extinguish a persistent underground fire that erupted last month during borehole drilling in Korangi Creek near an oil refinery. The move follows the release of a detailed chemical analysis, which revealed dangerously high concentrations of gases and minerals in the soil and groundwater. According to Korangi Deputy Commissioner Masood Bhutto, the report confirmed the presence of hazardous gases such as benzene and toluene, as well as heavy metals including iron, arsenic, manganese, and lead—many exceeding permissible environmental…

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