Author: Admin

ISLAMABAD: Altern Energy Limited (AEL) has formally concluded major agreements with the Government of Pakistan and key energy stakeholders, marking a significant development in the country’s independent power sector. In a notice submitted to the Pakistan Stock Exchange on Monday, the company confirmed that it has signed a Termination Agreement (TA) with the Government of Pakistan (GoP) and Central Power Purchasing Agency Guarantee Limited. As a result, several core agreements have been discontinued, including the Implementation Agreement (IA), the sovereign guarantee issued by the government, and the Power Purchase Agreement…

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An Iranian-flagged vessel seized by the United States has been partially returned, with its crew transferred to Pakistan for repatriation, according to international media reports. The ship, identified as M/V Touska, was intercepted by the United States Central Command on April 19 after allegedly failing to comply with repeated warnings while attempting to breach a US-imposed blockade on Iranian ports. The vessel, linked to the Islamic Republic of Iran Shipping Lines, had been operating under sanctions. A US military spokesperson, Captain Tim Hawkins, confirmed that 22 crew members were transferred…

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ISLAMABAD: The Asian Development Bank has announced an ambitious $70 billion initiative to strengthen energy integration and digital connectivity across the Asia-Pacific region by 2035, aiming to enhance cross-border electricity trade, modernise power grids, and expand broadband access. The announcement was made during the bank’s annual meeting held in Samarkand from May 3 to 6. ADB President Masato Kanda emphasized that energy and digital access would be critical drivers of the region’s future growth, competitiveness, and connectivity. The initiative comprises two major components: a $50 billion Pan-Asia Power Grid Initiative…

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