Category: Latest News

HUBCO Announces \$51 Million Investment Plan to Support Thar Coal Projects

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HUBCO-Project

KARACHI: Hub Power Company Limited (HUBCO), Pakistan’s largest Independent Power Producer (IPP), has unveiled plans to invest up to \$51 million (approximately Rs14.61 billion) in two of its key Thar-based coal power projects—Thar Energy Limited (TEL) and ThalNova Power Thar (Private) Limited (TN). In a notice submitted to the Pakistan Stock Exchange (PSX) on Wednesday, HUBCO revealed that its board has approved resolutions to extend Sponsor Support Contribution Letters of Credit (SSC LCs) for both projects to ensure smooth debt servicing and meet potential financial obligations. The company seeks shareholder…

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Pakistan, UNEP’s SPAR6C Initiative Collaborate to Strengthen Carbon Market Readiness

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UNEP-PAK

ISLAMABAD: Federal Minister for Climate Change, Dr. Musadik Malik, met with a delegation from SPAR6C (Supporting Preparedness for Article 6 Cooperation) on Tuesday to advance Pakistan’s engagement in global carbon markets under the Paris Agreement. SPAR6C is a five-year international initiative (2022–2027) led by the United Nations Environment Programme (UNEP), assisting countries like Pakistan, Colombia, Thailand, and Zambia in building capacity for Article 6 cooperation. The meeting focused on enhancing Pakistan’s readiness for carbon market mechanisms, particularly through the student sponsorship programme. Both sides reviewed ongoing support for Pakistani students…

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Reko Diq Project to Deliver Multi-Generational Impact for Balochistan, Says Barrick CEO

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Reko-Diq

QUETTA, July 2025 — The Reko Diq copper-gold project is more than a major mining initiative — it represents a multi-generational opportunity for sustainable economic and social uplift in Balochistan, said Mark Bristow, CEO of Barrick Gold Corporation, during his visit to Humai village, the closest community to the project site in District Chagai. Speaking with local residents, Bristow reaffirmed the Reko Diq Mining Company’s (RDMC) commitment to empowering the people of Balochistan through long-term investments in employment, education, and healthcare. “We’re not only creating direct jobs at RDMC, but…

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Addicts Turn to Power Line Theft in Peshawar, Sparking Blackouts and Fatal Accidents

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New-Project8

PESHAWAR, July 2025 — A disturbing trend has emerged in Peshawar, where drug addicts are now targeting high-voltage electricity cables for theft, posing grave risks to public safety and severely disrupting power supply across the city. According to the Peshawar Electric Supply Company (PESCO), millions of rupees worth of copper wires have been stolen in recent weeks. Thieves, often addicts armed with axes, operate under the cover of darkness in areas such as Chamkani, Doranpur, Northern Bypass, Motorway Toll Plaza, Budhni, Ring Road, Tehkal, Hazarkhwani, and GT Road. Unlike previous…

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Fast Cables Becomes First Pakistani Cable Manufacturer Approved by UAE’s TAQA

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Fast-Cables

KARACHI, July 2025 — In a major breakthrough for Pakistan’s industrial sector, Fast Cables Limited has become the first cable manufacturer in the country to be certified as an approved vendor by the Abu Dhabi National Energy Company (TAQA)—a global energy and utilities powerhouse based in the UAE. The milestone was disclosed by the company in a notice to the Pakistan Stock Exchange (PSX) on Tuesday, marking a significant achievement in Fast Cables’ international growth strategy. TAQA, a leading player in the global energy landscape, operates across the entire energy…

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