Category: Latest News

ISLAMABAD: The National Assembly Standing Committee on Power on Tuesday approved two major amendments to electricity-related laws without debate, aiming to streamline decision-making, support market liberalisation, and facilitate the launch of a competitive business-to-business (B2B) electricity market. The meeting, chaired by MNA Sheikh Aftab Ahmed in the absence of Committee Chairman Muhammad Idrees, approved the proposed changes after brief proceedings, with lawmakers describing the amendments as procedural in nature. The Power Division presented two legislative proposals: the Regulation of Generation, Transmission and Distribution of Electric Power (Amendment) Bill, 2026 and…

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ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday emphasized the need to broaden Pakistan-China cooperation under the next phase of the China-Pakistan Economic Corridor (CPEC 2.0), identifying agriculture, information technology, industrial development, special economic zones, and mining as key areas for future collaboration. The prime minister made these remarks during a meeting with Chinese Ambassador Jiang Zaidong, who called on him in Islamabad, according to a statement issued by the Prime Minister’s Office. During the meeting, Prime Minister Shehbaz conveyed his warm regards to Chinese President Xi Jinping and Premier Li…

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ISLAMABAD: Pakistan has secured four liquefied natural gas (LNG) cargoes, including three under long-term agreements with Qatar and one from the spot market, to meet the growing energy requirements of the power sector and other economic activities during the summer season. As part of its supply management strategy, Pakistan LNG Limited (PLL) on Wednesday invited bids for the delivery of one LNG cargo on a Delivered Ex-Ship (DES) basis at Port Qasim, Karachi, for the June 6-7, 2026 delivery window. The developments were shared during a media briefing attended by…

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ISLAMABAD: The federal government is facing significant challenges in finalizing the upcoming budget due to an estimated fiscal shortfall of around Rs1.7 trillion and has sought greater financial contributions from provinces, particularly Punjab and Sindh, according to Khyber Pakhtunkhwa’s Adviser on Finance, Muzammil Aslam. Addressing a press conference on Wednesday, Aslam expressed concern over the uncertainty surrounding the budget-making process, citing the abrupt cancellation of the National Economic Council (NEC) meeting scheduled for June 3 and the earlier postponement of the Annual Plan Coordination Committee (APCC) meeting. He said the…

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ISLAMABAD: Pakistan and Barrick Mining Corporation are reviewing enhanced security measures for the multi-billion-dollar Reko Diq Copper-Gold Project amid the prevailing security environment, a move that is expected to increase project-related security expenditures. Confirming the development, OGDCL Chief Executive Officer Ahmad Hayat Lak said a Barrick team is currently in Pakistan to discuss security upgrades and assess existing arrangements under the project agreement. Speaking to journalists, Lak explained that the Reko Diq agreement already contains provisions for security arrangements, and both sides are undertaking a formal review to determine whether…

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