Category: Latest News

ISLAMABAD: A leading Chinese company has expressed strong interest in making long-term investments across Pakistan’s energy sector, including upstream oil and gas, refinery modernization, offshore exploration, energy equipment manufacturing, and integrated coastal energy infrastructure. The proposals were discussed during a meeting between Federal Minister for Petroleum Ali Pervaiz Malik and Hou Jianxin, Chairman of Shandong Xinxu Group Corporation, in Islamabad. During the meeting, Hou Jianxin reaffirmed the company’s commitment to expanding its presence in Pakistan and proposed a long-term strategic partnership covering the entire energy value chain. He said Shandong…

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LAHORE: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged the federal and provincial governments to introduce a special financing scheme at just 3% markup for the purchase of solar batteries, saying the initiative would strengthen industrial competitiveness, improve energy security, and accelerate Pakistan’s transition to clean energy. Addressing a press conference, FPCCI Regional Chairman and Vice President Zaki Ejaz said the promotion of solar energy has become indispensable for Pakistan’s industrial growth, export expansion, energy security, and long-term economic stability. He emphasized that providing industries with…

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ISLAMABAD: The government’s claim of reducing Pakistan’s power sector circular debt has come under scrutiny after a new report revealed that fresh circular debt has increased sharply during the current fiscal year, raising questions about the sustainability of recent financial measures. According to a report by the Economic Policy and Business Development (EPBD) Think Tank, new circular debt in the power sector surged from Rs18 billion to Rs240 billion during the first ten months of FY2025-26, despite official claims that the overall stock of circular debt had declined. The report…

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ABU DHABI: Renewable energy continued to strengthen its position as the world’s most cost-effective source of new electricity in 2025, helping countries avoid an estimated USD 480 billion in fossil fuel costs, according to a new report released by the International Renewable Energy Agency (IRENA). The report, Renewable Power Generation Costs in 2025, reveals that more than 90% of utility-scale renewable energy projects commissioned during the year generated electricity at lower costs than the cheapest new fossil fuel alternatives, reinforcing the economic case for accelerating the global energy transition. Solar…

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KARACHI, JULY 2, 2026: K-Solar (Private) Limited, a wholly owned subsidiary of K-Electric’s investment arm KE Ventures Company (Pvt) Limited, and Mingyang Smart Energy Group Limited, one of the world’s largest wind turbine manufacturer and a major global supplier of utility-scale and industrial Battery Energy Storage Systems (BESS), have signed an agreement to bring Mingyang’s solutions to the local industry in Pakistan. Under the memorandum of understanding (MoU), K-Solar and Mingyang will partner to market, supply and finance wind power projects and BESS for grids and commercial and industrial sectors…

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