Author: Admin

ISLAMABAD: GU GO Motors and China’s Shengtang Group have signed a memorandum of understanding (MoU) for a proposed joint venture to manufacture electric buses in Pakistan, aiming to promote technology transfer, local production and export opportunities. The agreement was signed at an event in Islamabad marking the 77th anniversary of the founding of the People’s Republic of China. Adviser to the Prime Minister on Industries and Production Haroon Akhtar Khan, who attended the ceremony as chief guest, said Pakistan and China enjoyed a longstanding relationship built on mutual trust and…

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ISLAMABAD: The American Business Forum (ABF), Overseas Investors Chamber of Commerce and Industry (OICCI) and Collect and Recycle (CoRe) Alliance have urged the federal government to withdraw the proposed ban on polyethylene terephthalate (PET) beverage bottles in Islamabad, warning that the move could undermine recycling efforts, disrupt businesses and discourage foreign investment. The business bodies have approached relevant federal ministers, seeking a review of the proposed restrictions and effective enforcement of the Islamabad Capital Territory (ICT) Single-Use Plastics (Prohibition) Regulations, 2023. In a letter to the minister for investment, the…

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NEW YORK: Oil prices rose on Wednesday amid renewed concerns over global supply disruptions after Yemen’s Houthi movement attacked Saudi Aramco’s headquarters and Iran signalled new tactics to target shipping in a bid to keep oil prices elevated. Brent crude futures gained 87 cents, or 0.82 per cent, to $106.56 a barrel by 1:25pm ET (1725 GMT). US West Texas Intermediate (WTI) crude rose $1.46, or 1.55 per cent, to $95.60 a barrel, reaching a three-week high. Attacks on vessels transiting the Strait of Hormuz, coupled with strikes involving Saudi…

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ISLAMABAD: The proposed privatisation of power distribution companies (Discos) has sparked a debate over constitutional authority, with a Senate subcommittee maintaining that the matter falls within the jurisdiction of the Council of Common Interests (CCI), while the government insists that fresh approval from the forum is not required. Adviser to the Prime Minister on Privatisation Muhammad Ali told a subcommittee of the Senate Functional Committee on Devolution that the legal and procedural requirements for privatising the distribution companies had been fulfilled. He said the CCI had approved the privatisation of…

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Karachi’s power utility must diversify its energy sources, maximise imports from the national grid and ensure that fuel shortages do not translate into prolonged load-shedding for paying consumers. Karachi’s residents cannot be expected to endure prolonged power outages every time supplies of re-gasified liquefied natural gas (RLNG) are disrupted. For millions of consumers who pay their electricity bills regularly, K-Electric’s continued reliance on load-shedding during fuel shortages raises serious questions about contingency planning, service reliability and consumer accountability. The latest disruption in RLNG supplies followed a force majeure declaration by…

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