Author: Admin

LAHORE: In the wake of the recent Karachi tragedy, the first meeting of the Punjab Steering Committee formed to strengthen public safety was held on Monday under the chairmanship of Provincial Minister for Energy and Convener Faisal Ayub Khokhar. The meeting focused on a comprehensive review of Lahore’s electricity distribution system, identifying potential safety hazards and discussing measures to ensure a safe and uninterrupted power supply across the city. Key officials in attendance included Commissioner Lahore Maryam Khan, Director General Lahore Development Authority Tahir Farooq, Chief Executive Officer of Lahore…

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LAHORE: As Pakistan’s circular debt in the energy sector continues to mount and policy fragmentation deepens institutional paralysis, the Businessmen Panel (BMP) of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has strongly criticised the government’s handling of the sector, warning that repeated policy missteps and delayed structural reforms are pushing the economy towards prolonged instability. Former FPCCI president and BMP Chairman Mian Anjum Nisar said the government’s renewed push for an Integrated Energy Plan may appear encouraging, but without addressing long-standing policy distortions, it risks becoming yet…

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ISLAMABAD: The Lahore Electric Supply Company (Lesco) has decided to raise its authorised share capital by 300 percent to Rs200 billion from the existing Rs50 billion, sources close to the Lesco Board chairman told Business Recorder. The proposal will be taken up as special business at the company’s Annual General Meeting (AGM) scheduled for February 6, 2026. Shareholders will be asked to approve an increase in authorised capital to accommodate the rising equity of the Government of Pakistan in the utility. Under the proposal, Lesco’s authorised capital will be divided…

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ISLAMABAD: Mari Energies Limited on Monday announced a gas discovery at the Tibri-1 exploratory well in the Kalchas South Block, located in Dera Bugti district of Balochistan. In a notice to the Pakistan Stock Exchange (PSX), the company said the Kalchas South joint venture is operated by United Energy Pakistan Limited (UEPL), which holds a 46 percent working interest. Mari Energies Limited owns a 44 percent working interest, while Dewan Petroleum (Pvt.) Limited holds the remaining 10 percent. The Tibri-1 well is the first exploratory well drilled in the Kalchas…

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ISLAMABAD: Chief Minister Khyber Pakhtunkhwa Sohail Afridi has urged the federal government to immediately release Rs71.4 billion in outstanding Net Hydel Profit (NHP) payments, warning that continued delays are undermining the province’s financial stability, officials in the Ministry of Water Resources told Business Recorder. In separate letters to Minister for Water Resources Moeen Wattoo and Minister for Power Sardar Awais Ahmad Khan Leghari, the chief minister sought their personal intervention to resolve the long-pending issue of unpaid NHP arrears. He emphasised that Khyber Pakhtunkhwa is constitutionally entitled to receive NHP…

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