Author: Admin

KARACHI: K-Electric (KE) has formally appointed Shaheryar Chishty as the Chairperson of its Board of Directors, according to a filing submitted to the Pakistan Stock Exchange (PSX) on Wednesday. The appointment follows the election of directors at KE’s Extraordinary General Meeting held on April 2, with the board confirming Chishty’s elevation during a meeting on April 15. He had been serving in an interim capacity since March, assuming chairman responsibilities in the absence of Mark Skelton. Chishty is the founder of AsiaPak Investments, an infrastructure-focused investment firm established in 2011,…

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KARACHI: Pakistan is experiencing a renewed surge in power outages, with analysts warning that the situation may worsen in the coming weeks amid fuel supply disruptions and declining hydropower generation. According to the Power Division, national electricity demand stands at approximately 18,000MW, while the system is facing a shortfall of around 4,500MW. Energy experts attribute the widening gap primarily to disruptions in liquefied natural gas (LNG) supplies following the closure of the Strait of Hormuz, a key global energy transit route. The suspension of LNG shipments from Qatar has significantly…

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ISLAMABAD: Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company Limited (SSGCL) have sought significant increases in prescribed gas prices to meet their revenue requirements for the fiscal year 2026–27. SNGPL has proposed a 21% increase, requesting a hike of Rs310 per unit to raise the prescribed price from Rs1,853 to Rs2,162. The company cited a revenue shortfall of Rs585 billion, including Rs576 billion carried forward from previous years. Meanwhile, SSGCL has sought a much steeper increase of 121%, proposing to raise its prescribed price from Rs1,777 to…

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ISLAMABAD: State Bank of Pakistan (SBP) on Thursday confirmed the receipt of $2 billion from Saudi Arabia, providing timely support to the country’s foreign exchange reserves. According to the central bank, the inflow was recorded with a value date of April 15, 2026. The development coincides with Prime Minister Shehbaz Sharif’s ongoing visit to Saudi Arabia, where diplomatic engagements are focused on regional peace and economic cooperation. A day earlier, Saudi Arabia pledged an additional $3 billion in deposits and extended its existing $5 billion facility for another three years.…

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ISLAMABAD: President Asif Ali Zardari on Wednesday called for transparency in load-shedding practices while expressing serious concern over regional water security challenges, including India’s suspension of the Indus Waters Treaty. Chairing a high-level meeting on water resource management at Aiwan-e-Sadr, the president reviewed key issues related to water availability, governance, and evolving regional dynamics. He termed the alleged “weaponisation” of water a matter of grave concern and stressed the need to safeguard Pakistan’s water rights through diplomatic and legal channels. Addressing the ongoing energy shortfall, President Zardari directed authorities to…

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