Category: Latest News

Minister Moves to Resolve Investor Concerns After Chinese Firm’s Shutdown Threat

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New-Project48

QUETTA: Federal Minister for Planning and Development Ahsan Iqbal has taken swift action to address concerns raised by a Chinese company that recently announced plans to shut down its operations in Pakistan, including a factory in Gwadar. The company, Han Geng Group, had cited persistent administrative challenges, policy inconsistencies, and non-market obstacles as key reasons behind its decision. It also highlighted difficulties in securing export approvals despite meeting international food safety standards and complying with Chinese customs requirements. Taking serious notice of the situation, Prime Minister Shehbaz Sharif and the…

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Refineries Suffer Rs24 Billion Loss in April Amid Pricing Disputes and Rising Import Costs

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Refineries-Urge

ISLAMABAD: Pakistan’s oil refining sector has reported a massive loss of Rs24 billion in April 2026, as industry players grapple with what they describe as an “artificial and misleading” pricing cap imposed under a government-backed fuel pricing mechanism. At the centre of the issue is the government’s decision to fix the diesel crack spread at $41.5 per barrel. Refinery officials argue that this benchmark does not reflect actual market conditions, where the crack spread stood closer to $60 per barrel by the end of April, based on higher global diesel…

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Energy Sector Urged to Accelerate Digitalisation and Cyber Defences: Kaspersky

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New-Project47

ISLAMABAD: Global cybersecurity firm Kaspersky has warned that energy organisations in Pakistan must urgently strengthen their cyber resilience as rapid digitalisation transforms the sector over the next two years. According to a joint Kaspersky–VDC report titled “Powering Cyber Resilience in the Energy Sector,” fewer than 5% of energy companies are currently fully digitalised. However, this figure is expected to surge to nearly 75% within two years, marking what the report describes as a “digital big bang” across power generation, transmission, and distribution systems. While digital transformation promises improved efficiency, reliability,…

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US Awards $488 Million F-16 Radar Support Contract Covering Pakistan and Allied Nations

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New-Project46

WASHINGTON: The United States Air Force has awarded a $488 million contract to Northrop Grumman for long-term engineering and technical support of F-16 Fighting Falcon radar systems, with Pakistan among the beneficiary countries. According to the official award notice, the firm-fixed-price, indefinite-delivery, indefinite-quantity contract will support the APG-66 and APG-68 radar systems installed on F-16 Fighting Falcon jets. The work will be conducted in Linthicum Heights, Maryland, and is scheduled to continue through March 31, 2036. The contract falls under the Foreign Military Sales (FMS) programme and includes multiple partner…

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LNG Arrival Ends Month-Long Loadshedding, Says Power Minister Awais Leghari

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Pakistan-LNG

ISLAMABAD: Federal Power Minister Awais Leghari has announced the end of a month-long period of loadshedding following the arrival of a liquefied natural gas (LNG) shipment in Pakistan. In a recorded televised message, the minister explained that recent power outages were primarily caused by a gas shortage linked to tensions between the United States and Iran, rather than any system failure or mismanagement. He recalled that on April 13–14, electricity outages lasted up to five hours, increasing to around seven hours on April 15–16. However, the situation gradually improved, with…

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