Author: Admin

KARACHI: Power generation in Pakistan dropped by 6.4% to 12,487 gigawatt-hours (GWh) in September, compared to the same month last year. The decline was driven by rising energy costs, an increase in off-grid solar power production, and weakening demand from struggling industrial sectors. This reduction in demand for national grid power is expected to raise the capacity payment burden on consumers, further increasing electricity costs. Despite government efforts to lower power prices through reforms and ongoing negotiations with Independent Power Producers (IPPs), the burden persists. Nuclear power generation fell sharply…

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The Oil and Gas Development Company Limited (OGDCL) has secured the prestigious Corporate Excellence Award 2024 in the Oil and Gas Exploration category. The accolade, organized by the Management Association of Pakistan (MAP), highlights OGDCL’s outstanding management practices and unwavering commitment to operational excellence in the energy sector. Mr. Javed Raza Soomro, General Manager (Production) at OGDCL, received the award on behalf of the company during a ceremony held in Karachi. The event was graced by the presence of Chief Minister Sindh Murad Ali Shah and Governor Khyber Pakhtunkhwa Faisal…

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ISLAMABAD: In the first quarter of fiscal year 2024-25, Pakistan attracted $404 million in foreign direct investment (FDI) from China, with a notable contribution of $224.8 million in September alone. According to the latest statistics from the State Bank of Pakistan (SBP), the country received a total of $903.5 million in FDI from various countries between July and September 2024, with China leading the pack, accounting for 44.8% of the total. Additionally, Hong Kong contributed $101.7 million to Pakistan’s FDI during this period. Other significant investments came from the United…

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ISLAMABAD: Pakistan earned US $111.313 million by providing different travel services in various countries during the two months of the fiscal year 2024-25. This shows an increase of 4.99 per cent as compared to the US $106.020 million worth same services provided during the corresponding months of the last fiscal year 2023-24, the Pakistan Bureau of Statistics (PBS) reported. During the months under review, personal travel services increased by 4.82 per cent, from US $104.380 million last year to US $109.411  million during July-August 2024-25. Among these personal services, the…

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