Category: Latest News

ISLAMABAD: Mecom Gas Pvt Ltd is considering launching an initial public offering (IPO) on the Pakistan Stock Exchange to raise approximately $20 million for the development of a new liquefied petroleum gas (LPG) storage facility, according to a media report. As reported by Bloomberg, the company is currently in discussions with Arif Habib Limited regarding advisory services for the proposed IPO. Chief Executive Officer Kamran Afzal said the company plans to utilise the proceeds to establish storage capacity of around 3,000 tons to strengthen fuel reserves and improve supply stability.…

Read More

ISLAMABAD: Pakistan GasPort Consortium Limited (PGPC) has agreed to extend commercial support to the Government of Pakistan following recent disruptions affecting LNG movement across the region. In a statement issued on Thursday, a spokesperson for PGPC said the company had made the accommodation in response to the government’s request and in the larger national interest. The company stated that the move reflects PGPC’s continued commitment as the owner and operator of Pakistan’s largest LNG terminal, recognised among the most operationally efficient LNG facilities in the region. Since beginning operations in…

Read More

ISLAMABAD: The Central Development Working Party (CDWP) on Thursday strongly criticised the Water and Power Development Authority (Wapda) over poor project management, weak oversight, lack of transparency, and massive cost escalations in two major hydropower projects — the Diamer-Bhasha Dam and Tarbela 5th Extension (T5) projects — collectively valued at over Rs802 billion. During the meeting, Planning Minister Ahsan Iqbal and the Planning Commission’s technical team expressed serious concern over the failure to submit revised feasibility studies and updated cost estimates for more than six years. The CDWP also demanded…

Read More

ISLAMABAD: The Public Accounts Committee (PAC) on Thursday directed the Cabinet Division to submit a comprehensive report into alleged financial and technical irregularities involving the National Engineering Services Pakistan (Nespak), amounting to billions of rupees. The committee ordered multiple inquiries into various projects handled by Nespak, including the Rs43 billion losses linked to faulty consultancy services for the Neelum Jhelum Hydropower Project. During the PAC meeting, chaired by Syed Naveed Qamar, Secretary Cabinet Division Kamran Ali Afzal informed members that a high-level inquiry into the Neelum Jhelum project was already…

Read More

Islamabad, May 23,2026 Federal Minister for Petroleum Mr. Ali Pervaiz Malik held a meeting with President Lahore Chamber of Commerce and Industry (LCCI) Mr. Faheem ur Rehman to discuss matters related to the business environment, investment facilitation, and the energy supply situation in the country. During the meeting, the Federal Minister reaffirmed the Government’s commitment to supporting the investment climate and ensuring maximum facilitation for the business community. He stated that the Government is taking practical steps to promote economic stability, encourage investment, and strengthen coordination with relevant stakeholders. President…

Read More