Applications Now Open for Pakistan’s Premier Technology Awards Karachi: The Pakistan Software Houses Association for IT & ITES (P@SHA), the apex trade body representing Pakistan’s IT and IT-enabled Services (ITeS) industry, has officially launched the 22nd edition of the P@SHA ICT Awards, inviting technology companies, startups, entrepreneurs, students, women-led businesses, and public sector innovators from across the country to submit their nominations. For more than two decades, the P@SHA ICT Awards have served as Pakistan’s premier platform for recognizing innovation, excellence, and technological achievement. The awards, scheduled to take place…
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Grid Electrification to Lower Thar Coal Mining Costs, Rail Link to Boost Local Coal Use: Study
KARACHI: The cost of mining coal in Pakistan’s Thar coalfield is expected to decline by around $0.70 per tonne as mining operations shift from diesel-powered equipment to grid electricity, according to a new study released by the Pakistan Credit Rating Agency (PACRA). The study also projects that the Thar Coal Rail Connectivity Project will become operational by late 2026, significantly improving coal transportation and enabling wider use of Thar lignite beyond mine-mouth power plants. Pakistan’s coal consumption increased sharply to 21.4 million tonnes during the first nine months of FY2025-26,…
Read MorePakistan Forced to Buy Costly LNG as Middle East Conflict Disrupts Supplies
ISLAMABAD: Pakistan has been forced to purchase one of its most expensive liquefied natural gas (LNG) cargoes in years as prolonged disruptions in the Middle East continue to tighten global supplies, placing additional pressure on the country’s finances and accelerating efforts to reduce dependence on imported LNG. According to a Bloomberg report, state-owned Pakistan LNG Limited (PLL) purchased a cargo for late July delivery at around $21.88 per million British thermal units (mmBtu) on Monday, the highest spot price paid by the country since 2022. Neighbouring Bangladesh has also been…
Read MorePakistan Explores Alternative Crude Oil Sources Amid Hormuz Disruption Fears
ISLAMABAD: Pakistan has begun exploring alternative crude oil import sources beyond the Gulf region following reports of the closure of the Strait of Hormuz and the Houthis’ ban on Saudi oil shipments through the Bab el-Mandeb Strait, as authorities move to safeguard the country’s energy security. The decision was taken during an emergency meeting chaired by Federal Minister for Petroleum Ali Pervaiz Malik with the chief executive officers (CEOs) and managing directors (MDs) of the country’s oil refineries, where the evolving regional security situation involving the United States, Iran, and…
Read MoreMari Energies Denies Wrongful GSPA Termination, Expresses Confidence in ICC Arbitration
KARACHI: Mari Energies Limited has rejected allegations that it wrongfully terminated its Gas Sale and Purchase Agreement (GSPA) with Petrosin CNG (Pvt) Ltd, stating that its position has consistently been upheld by Pakistani courts and that the ongoing arbitration proceedings remain confidential. In a notice submitted to the Pakistan Stock Exchange (PSX) on Tuesday, the exploration and production (E&P) company issued the clarification in response to recent media reports regarding the termination of the agreement and the related proceedings before the International Chamber of Commerce (ICC). “Mari Energies Limited categorically…
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