Author: Admin

Five major business groups unveil multi-billion-dollar investment plans for Balochistan minerals

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Mine-minral

QUETTA: Five leading Pakistani business groups—Lake City Holdings, Fatima Group, Deen Group, Hilton Group and Surti Group—have announced plans to invest billions of dollars in Balochistan’s mineral sector, underscoring growing private-sector interest in the province’s vast natural resources. Collectively, these groups have an estimated market value of around $5 billion. The announcement follows the disclosure by Mari Energies Limited that its wholly owned subsidiary, Mari Minerals (Private) Limited, has entered into a joint venture agreement with Globacore Minerals Limited to undertake mineral exploration activities in Balochistan. Speaking at a recent…

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Japan moves closer to restarting world’s largest nuclear plant after Fukushima

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nuclear-power

NIIGATA: Japan has taken a decisive step towards restarting the world’s largest nuclear power plant, nearly 15 years after the Fukushima disaster, as the Niigata prefectural assembly approved a vote backing the resumption of operations at the Kashiwazaki-Kariwa facility. Located about 220 kilometres northwest of Tokyo, Kashiwazaki-Kariwa was among the 54 reactors shut down after the 2011 earthquake and tsunami triggered the Fukushima Daiichi nuclear accident. Since then, Japan has restarted 14 of the 33 reactors that remain operable, as it seeks to reduce dependence on imported fossil fuels. The…

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UK-Pakistan Green Compact launched to boost climate resilience, clean energy

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Pak-UK

ISLAMABAD: Pakistan and the United Kingdom have launched the UK-Pakistan Green Compact, a new partnership aimed at strengthening climate resilience, accelerating the clean energy transition and promoting nature-based solutions, including mangrove conservation. The agreement was signed in Islamabad by Federal Minister for Climate Change and Environmental Coordination Musadik Malik and UK Minister for International Development Jennifer Chapman. Under the Compact, the UK will provide £35 million (about $44 million) in targeted support for green development and long-term climate action. Officials described the initiative as a shift from policy dialogue to…

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Power Division, KE locked in dispute over tariff differential subsidy payments

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K-Electric-3

ISLAMABAD: The Power Division and K-Electric (KE) are at odds over the payment of Tariff Differential Subsidy (TDS), with the utility insisting that subsidies be released on the basis of original tariff determinations, while the Power Division maintains that payments must follow NEPRA’s revised determinations, sources told Business Recorder. The dispute has intensified through a series of letters exchanged between the two sides, each citing differing legal interpretations and court references. KE argues that interim stay orders issued by the Sindh High Court (SHC) bar the enforcement of NEPRA’s revised…

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Three bidders remain as PIA privatisation bids open Tuesday

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PIA-Airlines

ISLAMABAD: The Privatisation Commission is set to receive bids for a 75 per cent stake in Pakistan International Airlines Corporation Ltd (PIAC) on December 23, with three bidders remaining in the race following the withdrawal of Fauji Fertiliser Company Ltd. According to the commission’s programme, bids will be submitted between 10:45am and 11:15am and opened at 3:30pm in a process to be broadcast live on television. The bidders include two local consortiums—one led by Lucky Cement, Hub Power Holdings, Kohat Cement and Metro Ventures, and another comprising Arif Habib Corporation,…

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