Category: Latest News

ISLAMABAD: Pakistan is facing a shortage of adequate battery-testing facilities for electric bikes, raising concerns over the quality and safety of batteries being used in the rapidly growing electric two-wheeler market. According to a report of a National Assembly subcommittee, more than 300,000 electric bikes have been manufactured in Pakistan since 2021-22. However, the country lacks sufficient facilities to test their batteries against international quality and safety standards. The report noted that, apart from the Pakistan Council of Scientific and Industrial Research (PCSIR), adequate battery-testing facilities are not currently available…

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KARACHI: Oilboy Energy Limited (OBOY) plans to raise Rs1 billion through a rights issue to finance the development of a nationwide network of 70 electric-vehicle (EV) fast-charging stations. According to documents submitted to the Pakistan Stock Exchange (PSX), the company, formerly known as Drekkar Kingsway Limited, will issue 100 million ordinary shares at Rs10 each. Oilboy said the project marks a diversification of its energy business—from trading coal, LPG, petrochemicals and allied fuel products to the retail supply of electricity as a transport fuel. The company said the initiative is…

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ISLAMABAD: Energy experts, regulators, researchers and industry stakeholders have called for strengthening the operational and financial foundations of power distribution companies (DISCOs) before expanding the Competitive Trading Bilateral Contracts Market (CTBCM). The recommendations were made during the launch of the Energy Regulatory Sandbox by the Sustainable Development Policy Institute (SDPI)’s Network for Clean Energy Transition (NCET), focusing on the impact of competitive auctions on DISCOs and the consequences of market liberalisation. Speaking at the event, Shah Jahan Mirza, former Managing Director of the Private Power and Infrastructure Board (PPIB), described…

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KARACHI: The government has appointed Imran Sarwar as President and Chief Executive Officer of the National Bank of Pakistan (NBP) for a three-year term, effective immediately. According to a notice issued to the Pakistan Stock Exchange (PSX) on Thursday, the appointment was made by the Finance Division through a notification dated September 3, 2026. The appointment remains subject to clearance of the State Bank of Pakistan’s fit and proper test. NBP informed the stock exchange of the appointment and requested that the information be disseminated to TRE Certificate Holders.

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ISLAMABAD: Kuwait-based Gulf Petroleum Exploration Pakistan (GPXP) is exploring plans to expand its investment and operations in Pakistan’s energy sector, signalling renewed interest in the country’s oil and gas exploration opportunities. Federal Petroleum Minister Ali Pervaiz Malik welcomed the proposed expansion during a meeting with GPXP Chief Executive Officer Khaled Al Saati and Mosleh Al Otaibi of Gulf Petroleum Exploration. GPXP, which operates in Pakistan’s oil and gas exploration sector, expressed strong interest in increasing its investment and contributing further to the development of the country’s energy resources. The petroleum…

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