Category: Latest News

KARACHI: The Hub Power Company Limited (HUBCO), Pakistan’s largest Independent Power Producer, has secured shareholder approval to provide financial guarantees worth up to \$51 million for its two Thar-based coal projects — Thar Energy Limited (TEL) and ThalNova Power Thar (TN). The approval was granted at an extraordinary general meeting on August 7, 2025, authorising standby letters of credit of up to \$31 million for TEL and \$20 million for TN to bridge potential funding gaps through equity and/or subordinated debt. HUBCO’s management has also been empowered to negotiate with…

Read More

ISLAMABAD: The National Engineering Services Pakistan (Nespak) has revealed that the collapse of a tunnel at the Neelum-Jhelum Hydroelectric Project caused physical damage worth around Rs35 billion and resulted in over Rs100 billion in losses due to halted power generation. Briefing the Senate Standing Committee on Cabinet Secretariat, chaired by Senator Rana Mahmood ul Hassan, Nespak officials said the incident occurred 5.5 kilometres underground. Three inquiry committees have been formed to determine whether the fault lies with the project’s consultants or the site’s geological conditions. The committee was informed that…

Read More

ISLAMABAD: Sui Northern Gas Pipelines Limited (SNGPL) has raised alarm over a severe liquidity crunch caused by Rs76.523 billion in outstanding receivables from the power sector, official sources told Business Recorder. The bulk of these dues — Rs50.431 billion — is owed by Wapda’s power plants, including Rs29.958 billion from Guddu Power, Rs16.615 billion from Nandipur, and smaller amounts from TPS Muzaffargarh, GTPS Faisalabad, GTPS Shahdra, SPS Faisalabad, NGPS Multan, and rented power units Bhikki and Sharqpur. Of this, Rs18.119 billion is disputed gas charges, Rs542 million is other gas…

Read More

ISLAMABAD: Pakistan’s electricity consumption rebounded sharply in the final quarter of FY25, surging between 35% and 58% after two years of contraction, largely driven by industries switching back from captive generation to the national grid. The Power Division on Friday attributed the recovery to improved macroeconomic indicators, recent power sector reforms, and the return of captive power users. Officials expressed optimism that the trend will help curb rising electricity tariffs by expanding the consumer base and spreading fixed capacity charges more efficiently. Industrial demand jumped 58.8% in April, 47.4% in…

Read More

Sindh Energy, Planning, and Development Minister Syed Nasir Hussain Shah praised the Thar Block-II project for its role in ensuring the country’s energy security and fostering inclusive development. He announced that coal gasification at Thar will soon commence, paving the way for the establishment of fertilizer plants. August 8, 2025 : during his visit to Thar Block-II, Minister Nasir Hussain Shah lauded the Sindh Engro Coal Mining Company (SECMC) for its mining operations and inclusive growth efforts through the Thar Foundation. SECMC, a pioneer in Pakistan’s mining sector, is widely…

Read More