Category: Latest News

US Exim Bank Commits $1.25bn Loan for Pakistan’s Reko Diq Mine

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Mining-Sector

WASHINGTON: The US Export-Import (Exim) Bank has pledged a $1.25 billion loan to support Barrick Mining’s development of the Reko Diq copper and gold project in Pakistan, as part of a broader US initiative to strengthen global supply chains for critical minerals, nuclear energy, and natural gas. Exim Bank Chair John Jovanovic, in an interview with the Financial Times published on Sunday, said the loan forms part of a larger plan to deploy $100 billion aimed at reducing Western dependence on supply chains that he described as “no longer fair.”…

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Pakistan Urges Grant-Based, Predictable Climate Financing for Vulnerable Developing Nations

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Cop-30

ISLAMABAD: Pakistan has called on the international community to provide rapid, grant-based, and predictable climate financing for vulnerable developing countries, warning that recurring extreme weather events are intensifying debt distress and stalling development in nations least responsible for global emissions. The appeal was made at a high-level side event titled “Operationalising Loss and Damage: Financing Resilience and Recovery in Vulnerable Countries” held at the Pakistan Pavilion during the UN climate summit (COP30) in Belém, Brazil. The session was jointly organised by the Ministry of Climate Change and Environmental Coordination and…

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KATI Demands Comparative FCA, Capacity Charge, and Net Metering Data to Evaluate Impact on Industrial Consumers

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New-NEPRA

ISLAMABAD: The Korangi Association of Trade and Industry (KATI) has urged the National Electric Power Regulatory Authority (NEPRA) to provide comprehensive comparative data on Fuel Charges Adjustment (FCA), capacity charges, and net metering to assess their combined financial burden on industrial consumers. In a letter to Registrar Waseem Bhinder, KATI requested the information ahead of NEPRA’s upcoming FCA hearing for October 2025, scheduled for November 27. The Association noted that it had previously referred to NEPRA’s determination of November 7, 2025, regarding the FCA for September, in which the Authority…

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Majority Shareholder KEH Demands Immediate Elections for K-Electric Board

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K-Electric

ISLAMABAD: KE Holdings (KEH), Cayman Islands — the majority shareholder of KES Power Mauritius and the indirect largest shareholder of K-Electric — has called for urgent elections to reconstitute the K-Electric (KE) Board, whose term expired in July 2025. In a letter addressed to the CEO of KE, the Chairman of the SECP, and the CEO of the Pakistan Stock Exchange, Casey McDonald, Sole Director of KE Holdings Limited (formerly IGCF SPV 21 Limited), asserted that KEH holds 53.8% of KES Power (KESP), which in turn owns 66.4% of K-Electric.…

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NPPMCL Seeks Government Direction Amid Uncertainty Over Future of 450 MW Rousch Power Plant

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Power-Plants

ISLAMABAD: The National Power Parks Management Company Limited (NPPMCL) is facing growing uncertainty regarding the future of the 450 MW Rousch Power Plant, following its transfer to the government under the Negotiated Settlement Agreement (NSA), sources told Business Recorder. Under the NSA with M/s Rousch Power, the plant—previously owned by former Commerce Minister Abdul Razak Dawood—was handed over to the Government of Pakistan under BOOT terms. Key commitments included: During its 103rd Board meeting on October 17, 2025, NPPMCL reviewed the plant’s status and raised several concerns. The Board noted:…

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