Author: Admin

Reko Diq Secures $5.5bn IFI Commitments, Paving Way for Construction in 2025

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Reko-Diq

ISLAMABAD: Pakistan’s flagship Reko Diq copper-gold project has secured over $5.5 billion in financing commitments from leading international financial institutions (IFIs), well above its actual requirement of $3.74 billion. The $7.48 billion venture, located in Balochistan’s Chagai district, is being developed under a 50:50 debt-to-equity model, with construction set to begin in December 2025 and commercial operations targeted for 2028. The US Export-Import Bank has pledged about $1 billion, while the Japan Bank for International Cooperation (JBIC) will provide $300 million. Denmark’s export credit agency has also offered guarantees to…

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KAPCO Begins Commercial Operations of 495MW Power Plant

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KAPCO-Denies

KARACHI: Kot Addu Power Company Limited (KAPCO) has commenced commercial operations of its 495-megawatt power plant, following the successful completion of the Initial Tested Capacity (ICT) and Initial Heat Rate Test (HRT) on September 12, 2025. The Independent Engineer has formally issued the test certificate, confirming compliance. The development activates the Tripartite Power Purchase Agreement (TPPA) signed on June 4, 2025, after approval by the National Electric Power Regulatory Authority (NEPRA). With the tests concluded, the TPPA became effective from September 13, 2025, marking the plant’s Commercial Operation Date (COD).…

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Power Division Secures Legal Backing for IGCEP 2025-35 Draft

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Power genration

ISLAMABAD: The Power Division has obtained a legal opinion in support of the draft Indicative Generation Capacity Expansion Plan (IGCEP) 2025-35, amid expectations that NEPRA may raise objections over the omission of certain projects previously classified as “committed” in the current IGCEP 2023-27, sources told Business Recorder. NEPRA has already uploaded the draft IGCEP 2025-35 on its website to seek stakeholder feedback ahead of a public hearing. According to Clause 5(c) of the National Electricity Plan (NE Plan), projects declared committed in IGCEP 2021 (as approved by the Council of…

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K-Electric IPO Oversubscribed, Raises Rs2bn

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K-Electric

KARACHI: K-Electric (KE) successfully concluded its initial public offering (IPO) on September 3, raising Rs2 billion as bids exceeded the target by 2.2 times, according to CEO Moonis Alvi. The KE Retail Sukuk attracted strong interest from over 600 retail applicants and institutional investors. In the pre-IPO phase, worth Rs1 billion, subscriptions came primarily from KE’s industrial and large commercial consumers, alongside high-net-worth individuals. The Sukuk also offers a unique feature: residential and commercial consumers can opt to adjust their electricity bills against monthly profits earned from the investment. At…

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Govt to Finalise Flood Damage Estimates Within 10 Days: Ahsan Iqbal

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ahsan-iqbal

ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal on Tuesday announced that the government will finalise preliminary estimates of the 2025 flood damages within 10 days, assuring the public that the data will be accurate, transparent, and based on verified field reports. Chairing a meeting of the Prime Minister’s Committee on Floods, Iqbal reviewed the initial assessments in the presence of Finance Minister Senator Muhammad Aurangzeb, the NDMA chairman, the climate change secretary, and chief secretaries of all provinces. Provincial representatives noted that a complete and…

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