Author: Admin

KARACHI’S POWER SHOCK: RISKING PAKISTAN’S ECONOMIC FUTURE

Admin
Karachi Electric

By Muhammad Azfar AhsanIn this opinion piece, the writer presents a powerful analysisof how a single regulatory decision has shaken Karachi’senergy foundation, undermined investor confidence, anddamaged Pakistan’s privatization process, jeopardizing thenation’s economic stability. It is a compelling call for datadriven reform, institutional credibility, and responsiblegovernance to restore trust and secure Pakistan’s future Karachi is the largest city of Pakistan, and its proud economic nucleus, that fuelsthe nation’s fiscal, industrial, and commercial lifelines. K-Electric (KE), in turn,serves as the artery that sustains this economic heart. This equation is self-evidentand requires no…

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Saudi, Kuwaiti Investors Serve $2bn Legal Notice to Pakistan in K-Electric Dispute

Admin
K-Electric

ISLAMABAD: In a development that could escalate into an international arbitration case, a consortium of Saudi and Kuwaiti investors in K-Electric has served a $2 billion legal notice to the Government of Pakistan, alleging violations of investment rights under the OIC Investment Agreement. The investors — Saudi Arabia’s Al Jomaih Group and Kuwait’s Denham Investments Limited — are represented by the London-based law firm Steptoe International (UK) LLP. The 67-page notice, dated October 20, was sent to the Attorney General for Pakistan, the Prime Minister’s Office, and the Special Investment…

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OGRA Moves to Curb Solvent Mixing in Petroleum Products

Admin
New-OGRA1

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has reaffirmed its commitment to eliminating solvent mixing in petroleum products, underscoring that all actions are being taken strictly within its legal mandate under the OGRA Ordinance, 2002. Citing Section 30 of the Ordinance, OGRA stated that all licensees are obligated to provide complete information related to their licensed operations and products. The Authority’s recent data request from Oil Marketing Companies (OMCs) regarding solvent oil is part of a broader crackdown on product misuse, aimed at preventing materials designated for industrial purposes…

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Cnergyico Holds 31st AGM, Reaffirms Commitment to Pakistan’s Energy Security and Growth

Admin
New-Cnergyico

KARACHI: Cnergyico Pk Limited successfully held its 31st Annual General Meeting (AGM) on October 23, 2025, in Karachi, presenting a comprehensive review of its financial and operational performance for FY-2025. The meeting was chaired by Vice Chairman and Director Mr. Usama Qureshi, alongside the Board of Directors and senior management, including CEO and Director Mr. Amir Abbassciy, Director Mr. Aumar Abbassciy, Independent Directors Mr. Sami ul Haq Khilji and Mr. Mushtaq Malik, CFO and VP Finance Mr. Zafar Shahab, and other key executives. Marking its 30th Anniversary, Cnergyico reflected on…

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Pakistan State Oil Posts Rs20.9bn Profit, Announces Rs10 Dividend

Admin
pso

KARACHI: Pakistan State Oil (PSO) has reported a profit-after-tax (PAT) of Rs20.9 billion for the fiscal year 2024–25 and announced a dividend of Rs10 per share, reflecting a 22.5% payout ratio. The announcement was made during the company’s 49th Annual General Meeting (AGM) held on Friday, chaired by Asif Baigmohamed, Chairman of the Board of Management. Syed Taha, Managing Director and CEO, along with senior executives, also attended the session. PSO’s management informed shareholders that the company had expanded its retail network to 3,649 outlets nationwide and achieved notable progress…

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