Category: Latest News

ISLAMABAD: Chinese power projects established under the China-Pakistan Economic Corridor (CPEC) framework are reportedly awaiting Rs498 billion in outstanding payments from the Central Power Purchasing Agency-Guarantee (CPPA-G), which is facing financial constraints in settling the liabilities, according to well-informed sources. The payment delays have prompted repeated reminders from power companies through official correspondence, with the issue reportedly reaching the Prime Minister’s Office on several occasions. Recently, Port Qasim Electric Power Company (PQEPC) Chief Executive Officer Wang Dongfeng wrote to the ministers for Finance and Revenue, Planning, Development and Special Initiatives,…

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Karachi, October 17, 2026: The Sindh government is striving to further improve, modernize, and make the public transport system environmentally friendly, while the first batch of buses will reach Karachi by November 2026. In this regard, Sindh Senior Minister and Provincial Minister for Information, Transport and Mass Transit Sharjeel Inam Memon held important meetings with officials of bus manufacturing companies in Shanghai. Senior Minister Sharjeel Inam Memon met with Mr. Robin Shen, Chief Executive Officer of Yutong Bus Manufacturing Company, during which the company offered its cooperation and support for…

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Finance Minister Muhammad Aurangzeb on Saturday told AFP that Pakistan had so far withstood the shock from skyrocketing energy prices due to the US-Israeli war on Iran, but that attacks on infrastructure in Saudi Arabia and other Gulf countries were “worrying” for the country’s longer-term economic outlook.In an interview on the sidelines of the International Monetary Fund (IMF)-World Bank Annual Meetings in Bangkok, Aurangzeb said the country had procured enough energy supplies to last through November, and was now planning for the winter months, when household needs typically spike.“The first-order…

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ISLAMABAD: Gujranwala Electric Power Company Limited (GEPCO) has proposed a 50 percent increase in its authorised share capital, ie, from Rs50 billion to Rs75 billion, following directions conveyed by the Cabinet Committee on Privatisation through the Privatisation Commission, according to an official notice issued by the company, sources close to CEO GEPCO told Business Recorder.The proposal will be placed before the company’s 34th Extraordinary General Meeting (EOGM), scheduled to be held on October 22, 2026.The proposed increase in authorised share capital will require an amendment to the relevant capital clause…

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ISLAMABAD: K-Electric has renewed its efforts to secure the support of Minister for Power, Sardar Awais Ahmad Khan Leghari for an upward revision of its tariff after the National Appellate Tribunal rejected its appeal against the revised Multi-Year Tariff (MYT), a dispute that is now before the Sindh High Court (SHC), well-informed sources told Business Recorder.In this regard, KE Chief Executive Officer Syed Muhammad Taha held a meeting with the Power Minister a couple of days ago, during which he shared the company’s current financial position and sought the government’s…

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