Author: Admin

KARACHI: K-Electric (KE) Chief Executive Officer Moonis Alvi has tendered his resignation, the company informed the Pakistan Stock Exchange (PSX) in a formal disclosure on Thursday. “Syed Moonis Abdullah Alvi has tendered his resignation from the position of Chief Executive Officer (CEO) of K-Electric Limited,” the filing said, submitted in accordance with the Securities Act, 2015, and PSX regulations. The exchange was requested to disseminate the information to all relevant stakeholders. Confirming the development in a post on X, Mr Alvi said he had decided to step down, calling it…

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ISLAMABAD: Pakistan needs to generate 25 to 30 million jobs over the next decade to turn its growing youth population into an economic dividend, failing which the country risks social instability and increased outward migration, World Bank President Ajay Banga has warned. Speaking in an interview with Reuters during his visit to Pakistan, Mr Banga said the country must create around 2.5 to 3 million jobs annually as millions of young people enter the workforce. “Job creation is the North Star,” he said, describing employment generation as a long-term, binding…

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ISLAMABAD: Kazakhstan-based Elaman Group has expressed keen interest in investing $20 million in placer gold mining in Gilgit-Baltistan, following the completion of preliminary studies that identified strong exploration and development potential in the region. The proposed investment was conveyed by an Elaman Group delegation during a meeting with Minister for the Board of Investment (BoI) Qaiser Ahmed Sheikh in Islamabad. Discussions focused on opportunities in Pakistan’s mining sector, with particular emphasis on placer gold exploration in Gilgit-Baltistan. The Kazakh delegation was led by Azamat Utegenov, Founder and Managing Partner of…

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ISLAMABAD: In a bid to align rooftop solar expansion with social welfare, Karachi-based industrialists and financial experts have proposed a not-for-profit mechanism titled the Social Net-Metering Unit Donation Framework (SNUDA), aimed at channeling surplus solar power to poor and deserving electricity consumers. Originally conceptualised by business leader and former Karachi Stock Exchange Managing Director Moin M. Fudda, the proposal is now being formally advanced by the Korangi Association of Trade and Industry (Kati). The framework has been submitted to the National Electric Power Regulatory Authority (Nepra), which is expected to…

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ISLAMABAD: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has strongly opposed the proposed positive quarterly tariff adjustment (QTA) sought by power distribution companies (Discos), terming it unjustified and based on flawed policy assumptions rather than genuine cost increases. In a letter to Federal Minister for Power Sardar Awais Leghari and the National Electric Power Regulatory Authority (Nepra), FPCCI Research Team Head Rehan Javed said Discos were seeking a net quarterly adjustment of Rs10.83 billion for the second quarter of FY26, which would be socialised across national electricity…

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