Author: Admin

K-Electric IPO Oversubscribed, Raises Rs2bn

Admin
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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SIFC Steps In to Resolve $6bn Refinery Upgrade Stalemate

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New-OCAC

ISLAMABAD: The Special Investment Facilitation Council (SIFC) has convened an urgent meeting on September 18 to address the mounting challenges faced by Pakistan’s oil industry, which has stalled $6 billion worth of refinery upgrade projects due to unresolved tax issues. Refineries and oil marketing companies (OMCs) have been reeling from heavy financial losses after the government’s sales tax exemption on petroleum products caused a shortfall of Rs34 billion in FY25. Although a temporary recovery mechanism was later introduced, the core issue remains unresolved. In the Finance Bill 2025, the government…

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Govt Allows RLNG-Based Gas Connections, Lifts 13-Year Moratorium

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New-RLNG

ISLAMABAD: The federal government has opened the way for new household and commercial gas connections, but strictly on regasified liquefied natural gas (RLNG) tariffs, ending a moratorium that has been in place since 2009. In a notification issued on Tuesday, the Ministry of Energy (Petroleum Division) directed the Oil and Gas Regulatory Authority (Ogra) and the two gas utilities — Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company Limited (SSGCL) — to immediately begin processing applications under the new framework. The cabinet, in its meeting on Sept…

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H.E. Dato’ Mohammad Azhar Mazlan Promises Facilitation to Exporters for improved Market Access to MalaysiaPresident FPCCI

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New-Project27

Karachi: . Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has informed that the apex body has hosted a high-profile, interactive and consultative meeting with H.E. Dato’ Mohammad Azhar Mazlan, High Commissioner of Malaysia in Pakistan, aimed at fostering trade, industry and investment cooperation between the two brotherly countries. President FPCCI mentioned that High Commissioner of Malaysia and his team of senior diplomats have assured their support in correcting Pakistan’s bilateral trade deficit with Malaysia through facilitating Pakistani exporters and enhancing market access.…

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