Category: Latest News

Kazakh Firm Eyes $20m Investment in Placer Gold Mining in Gilgit-Baltistan

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New-Project51

ISLAMABAD: Kazakhstan-based Elaman Group has expressed keen interest in investing $20 million in placer gold mining in Gilgit-Baltistan, following the completion of preliminary studies that identified strong exploration and development potential in the region. The proposed investment was conveyed by an Elaman Group delegation during a meeting with Minister for the Board of Investment (BoI) Qaiser Ahmed Sheikh in Islamabad. Discussions focused on opportunities in Pakistan’s mining sector, with particular emphasis on placer gold exploration in Gilgit-Baltistan. The Kazakh delegation was led by Azamat Utegenov, Founder and Managing Partner of…

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Karachi Industrialists Propose Solar-Powered Charity Model to Support Low-Income Consumers

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Solar-Panel

ISLAMABAD: In a bid to align rooftop solar expansion with social welfare, Karachi-based industrialists and financial experts have proposed a not-for-profit mechanism titled the Social Net-Metering Unit Donation Framework (SNUDA), aimed at channeling surplus solar power to poor and deserving electricity consumers. Originally conceptualised by business leader and former Karachi Stock Exchange Managing Director Moin M. Fudda, the proposal is now being formally advanced by the Korangi Association of Trade and Industry (Kati). The framework has been submitted to the National Electric Power Regulatory Authority (Nepra), which is expected to…

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FPCCI Slams Proposed Quarterly Power Tariff Hike, Calls QTA Policy-Flawed

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FPPCI-Project

ISLAMABAD: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has strongly opposed the proposed positive quarterly tariff adjustment (QTA) sought by power distribution companies (Discos), terming it unjustified and based on flawed policy assumptions rather than genuine cost increases. In a letter to Federal Minister for Power Sardar Awais Leghari and the National Electric Power Regulatory Authority (Nepra), FPCCI Research Team Head Rehan Javed said Discos were seeking a net quarterly adjustment of Rs10.83 billion for the second quarter of FY26, which would be socialised across national electricity…

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Petroleum Product Sales Rise 10pc in January

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petroleum-group

KARACHI: Sales of petroleum products climbed to 1.52 million tonnes in January 2026, marking a 10 per cent year-on-year (YoY) increase and a 12 per cent rise compared with December, according to industry data. Analysts attributed the annual growth to signs of economic recovery, easing inflation and improved enforcement against fuel smuggling. The month-on-month (MoM) increase was largely driven by lower petrol and diesel prices and a low base effect following a nationwide strike in December 2025 that disrupted sales for nearly 10 days. During the first seven months of…

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Pakistan Seeks Two-Year Extension in Saudi Oil Facility

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Pak-Saudi

ISLAMABAD: Pakistan has formally requested Saudi Arabia for a two-year extension of the Saudi Oil Facility (SOF) following the expiry of the existing $1.2 billion arrangement, official sources told The News on Tuesday. According to senior officials, Islamabad has sought the extension to cover the remaining period of the ongoing International Monetary Fund (IMF) programme and is awaiting a formal response from Riyadh. The current SOF, under which Saudi Arabia provides oil on deferred payment terms amounting to $100 million per month, is set to expire next month. While the…

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