Author: Admin

KARACHI: Umar Ahsan Khan, CEO and Managing Director of Dawlance (Private) Limited, has been elected President of the Overseas Investors Chamber of Commerce and Industry (OICCI) for the 2026-28 term. The election results were announced at the Chamber’s Extra-Ordinary General Meeting held on Tuesday. Ahmed Zahid Zaheer, Country Chairman and General Manager of Chevron Lubricants Pakistan (Private) Limited, was elected Senior Vice President, while Dr Syed Amir Ali, President and CEO of Meezan Bank Limited, was elected Vice President. Umar Ahsan Khan succeeds Yousaf Hussain, who served as OICCI President…

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LAHORE: Punjab is evaluating its potential participation in Pakistan’s first 400-megawatt (MW) Wheeling Auction as the province explores opportunities under the competitive electricity market and open-access wheeling framework. A meeting was held at the Punjab Energy Department under the chairmanship of Provincial Minister for Energy Malik Faisal Ayub Khokhar to review the province’s strategy regarding the auction and the broader implications of open-access wheeling. Secretary Energy Muhammad Ajmal Bhatti and other relevant officials attended the meeting, while Sania Owais, Managing Director Punjab Power Development Company (PPDC), briefed the participants on…

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KARACHI: Pakistan’s LNG challenge has entered a more difficult phase, shifting from concerns over securing adequate supplies to the growing problem of obtaining imported gas at prices affordable for consumers, businesses and the wider economy. According to a report titled “LNG Supply Shock — From Contract Disruption to Energy-Cost Pressure” released by the Institute of Cost and Management Accountants of Pakistan (ICMAP), geopolitical disruptions in 2026 dramatically altered the country’s LNG outlook. Earlier expectations of an LNG surplus estimated at around $5.6 billion have given way to a sharp supply…

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KARACHI: Attock Refinery Limited (ATRL) plans to establish a new 50,000-barrels-per-day (bpd) deep-conversion refinery alongside its ongoing brownfield upgradation project, subject to securing sustainable supplies of locally produced crude oil from northern fields and receiving the required government support. According to ATRL’s annual report, the proposed deep-conversion refinery is part of the company’s longer-term strategy to strengthen its refining capacity and competitiveness. Meanwhile, ATRL’s Refinery Upgradation Project, enabled by amendments to the Refining Policy for Brownfield Refineries, involves an estimated investment of $600 million. The project is aimed at improving…

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KARACHI: Earnings of Pakistan’s listed power sector increased 14 per cent year-on-year (YoY) to Rs54.6 billion in FY26, supported by provisioning for late payment surcharge (LPS) and excess profits related to non-performing loans (NPL) and non-performing exposures (NEL) recorded in the same period last year. Lower finance costs, higher other income and increased contributions from associates also supported profitability, more than offsetting weaker core earnings following the termination of Hub Power Company’s (Hubco) base-plant power purchase agreement (PPA) from October 1, 2025. According to a report by Arif Habib Limited,…

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