Category: Latest News

KE Cleared from Al Jomaih Power Suit, Board Elections Still on Hold

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K-Electric

ISLAMABAD: K-Electric (KE) Limited has announced that it is no longer a party to a major legal case after Al Jomaih Power Limited and other plaintiffs withdrew their claims, leading to the dismissal of all related proceedings by a Karachi court. Despite this development, KE remains unable to hold board elections due to continuing judicial restraints and a standing regulatory directive from the Securities and Exchange Commission of Pakistan (SECP). In a material information disclosure submitted to the Pakistan Stock Exchange (PSX) and the SECP on January 26, 2026, KE…

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Circular Debt Climbs Again Despite Heavy Borrowing, Capital Injection

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Circular-Debt

ISLAMABAD: Despite substantial capital injections and over Rs1.225 trillion in commercial borrowing during the last fiscal year, Pakistan’s power sector circular debt rose by Rs75 billion in the first half (July–December) of the current fiscal year, reaching Rs1.689 trillion — a 4.65 per cent increase in six months. At the close of FY25 on June 30, 2025, circular debt stood at Rs1.614 trillion, having been reduced by Rs780 billion through government capital injections and about Rs1.225 trillion in commercial borrowing, largely aimed at replacing expensive Power Holding Private Limited (PHPL)…

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CM Murad Shah inaugurates Korangi Causeway bridge, announces relief, reconstruction plan for Gul Plaza victims

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New-Project35

• 1.4 kilometres long Causeway is six lanes – three on each side bridge• Causeway Bridge to benefit Korangi- Landhi industrial areas, commuters, nearby facilities, including Indus Hospital, SIUT, educational institutions KARACHI (Jan 26): Sindh Chief Minister Syed Murad Ali Shah inaugurated the Rs6.1 billion Korangi Causeway bridge and reaffirmed his government’s commitment to enhancing Karachi’s infrastructure, while unveiling comprehensive relief, rehabilitation, and reconstruction initiatives for those affected by the recent Gul Plaza tragedy. Speaking to the media at the inauguration ceremony of the Korangi Causeway Bridge, the chief minister…

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FPCCI Rejects SBP’s Status Quo in Interest RateAtif Ikram Sheikh, President FPCCI

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FPCCI-Project

Karachi: Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), has expressed profound disappointment over the State Bank of Pakistan’s (SBP) decision to maintain status quo in the key policy rate, keeping it at 10.5%. The apex trade body has termed the decision as counterproductive and strictly disappointing vis-a-vis the industrial revival Pakistan desperately needs at the moment. Atif Ikram Sheikh stated that the business community had categorically demanded a substantive reduction of 3.5% or 350 basis points to bring the policy rate down…

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Punjab Steering Committee Reviews Lahore’s Power System After Karachi Incident

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New-Project34

LAHORE: In the wake of the recent Karachi tragedy, the first meeting of the Punjab Steering Committee formed to strengthen public safety was held on Monday under the chairmanship of Provincial Minister for Energy and Convener Faisal Ayub Khokhar. The meeting focused on a comprehensive review of Lahore’s electricity distribution system, identifying potential safety hazards and discussing measures to ensure a safe and uninterrupted power supply across the city. Key officials in attendance included Commissioner Lahore Maryam Khan, Director General Lahore Development Authority Tahir Farooq, Chief Executive Officer of Lahore…

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