Category: Latest News

ISLAMABAD: A 100-megawatt (MW) solar power project is being advanced in Gilgit-Baltistan under the Power Division with support from the Public Sector Development Programme (PSDP), marking a significant step towards ensuring a more reliable and sustainable electricity supply in the region. The project is being pursued in line with Prime Minister Muhammad Shehbaz Sharif’s energy sector priorities. It includes 82MW of large-scale solar installations, 18MW of solar systems across 499 government buildings, and battery energy storage facilities. Key preparatory stages of the project have been completed, while four sites have…

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KARACHI: The Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has strongly denounced the State Bank of Pakistan’s decision to increase the policy rate by 0.5% to 12%, terming it counterproductive and disastrous for the economy. FPCCI President Mr. Atif Ikram Sheikh expressed profound concern and disapproval, stating that the move deals a severe blow to economic stabilization, dampens industrial expansion, and erodes export competitiveness. He said further inflating borrowing costs when manufacturers are already facing unprecedented operational overheads, soaring utility tariffs and severe liquidity constraints is a step…

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Islamabad: October 26, 2026 Federal Minister for Petroleum Ali Pervaiz Malik held a meeting with US Chargé d’Affaires H.E. Natalie A. Baker to discuss avenues for strengthening bilateral cooperation in the energy sector. During the meeting, the Federal Minister briefed the US Chargé d’Affaires on the measures taken by Pakistan to ensure energy security amid the evolving geopolitical situation. He highlighted that the ongoing conflict in the Middle East had created challenges for fuel availability, requiring proactive measures to maintain uninterrupted supplies. H.E. Natalie A. Baker congratulated Pakistan on efficiently…

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Faysal Bank Limited (FBL) delivered a resilient performance for the nine months ended September 30, 2026, posting Profit Before Tax of PKR 31.3 billion and Profit After Tax of PKR 15.2 billion, translating into Earnings Per Share of PKR 10. The Board has declared a third-quarter cash dividend of PKR 1.5 per share (15%), in addition to the PKR 3 per share already paid for the first half of the year. Total assets stood above PKR 1.8 trillion, as the Bank took a measured approach to balance-sheet growth while prioritising…

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KARACHI: Pakistan has increased liquefied petroleum gas (LPG) imports through the sea route following disruptions to supplies from Iran, with more than 11,600 tonnes arriving at Karachi’s ports within a week as retail prices surge across the country. An LPG carrier, Yellow Stone, carrying 4,000 metric tonnes of LPG loaded in Bahrain, berthed at Port Qasim on October 24, marking another addition to the country’s seaborne supplies, according to port authorities. In a statement, the Port Qasim Authority (PQA) said the vessel’s arrival marked the start of cargo handling in…

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