Author: Admin

Pakistan Dispatches Delegation to Saudi Arabia as Economic Roadmap Nears Finalisation in Two Months

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saudi-pak

ISLAMABAD: Pakistan has sent a high-level delegation to Saudi Arabia to push forward discussions on a comprehensive economic roadmap, expected to be sealed within the next two months, well-placed sources told Business Recorder on Thursday. The delegation includes Commerce Minister Jam Kamal Khan, Minister for National Food Security Rana Tanveer Hussain, and senior officials from the Special Investment Facilitation Council (SIFC). Prime Minister Shehbaz Sharif, currently in the United States, joined preparatory meetings virtually. According to officials, both sides are working on a structured framework to guide future cooperation, rather…

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NEPRA Slaps Rs975m Penalties on Power Firms Over Safety Lapses

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New-NEPRA

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has imposed fines worth Rs975 million on power distribution companies and the NTDC in recent years over fatal and non-fatal accidents, citing persistent safety and compliance failures. The Islamabad Electric Supply Company (IESCO) topped the list with Rs310m in penalties, including Rs210m for non-fatal and Rs100m for fatal accidents. Hyderabad Electric Supply Company (HESCO) followed with Rs117m, while privatised K-Electric was fined Rs95.5m across multiple years. Lahore Electric Supply Company (LESCO) faced Rs86m in fines, Peshawar Electric Supply Company (PESCO) Rs85m, Multan…

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PIAF Urges Diversification of FDI Beyond Energy Sector

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energy-demand

LAHORE: The Pakistan Industrial and Traders Association Front (PIAF) has urged policymakers to broaden the scope of foreign direct investment (FDI) beyond the energy sector, warning that overreliance on power projects is stifling Pakistan’s wider economic growth potential. PIAF Patron-in-Chief Mian Sohail Nisar said foreign investors continue to channel most funds into energy despite vast opportunities in mining, manufacturing, and IT. “Heavy concentration of capital in one sector is concerning. Pakistan must attract value-added and technology-driven investments,” he noted. According to the State Bank of Pakistan, FDI stood at $2.46…

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Lesco Reports Rs237m Flood Losses; PIEDMC Approves Rs18bn Industrial Projects

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New-LESCO

LAHORE: The Lahore Electric Supply Company (Lesco) has reported damages worth Rs237.38 million to its infrastructure following recent heavy rains and floods. According to Lesco CEO Muhammad Ramzan Butt, restoration work has been accelerated to repair and replace the affected equipment. The Kasur circle emerged as the worst hit, suffering losses of Rs197.43m, followed by Okara with Rs24.96m and the central circle with Rs6.35m. Sheikhupura sustained Rs5.7m losses, while Nankana circle faced Rs1.9m damages. The damage included dozens of transformers, thousands of conductors, transmission lines, insulators, poles, and meters across…

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Federal Minister Petroleum Ali Pervaiz Malik Hosts PARCO Board Members

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New-Project37

Islamabad, September 25, 2025 Federal Minister for Petroleum, Mr. Ali Pervaiz Malik, hosted a dinner in Islamabad in the honor of Board of Directors of Pak-Arab Refinery Limited (PARCO). The gathering reflected the government’s commitment to fostering collaboration with the energy sector and advancing Pakistan’s refining and petroleum industry. The event, held to welcome the foreign board members from Mubadla Energy, was attended by a gathering of high-profile dignitaries, including Federal Ministers, Members of Parliament, senior officials from the Petroleum Division, and other distinguished guests from the energy sector. Federal…

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