Category: Latest News

KARACHI: Leading voices from Pakistan’s trade and industrial sectors have strongly criticised the State Bank of Pakistan’s (SBP) decision to raise the policy rate by 100 basis points to 11.5%, warning that the move could hamper exports, investment, and overall economic growth. Business leaders described the increase as ill-timed, arguing that it comes at a sensitive phase when the economy is showing signs of stabilisation, despite external pressures such as the ongoing Middle East conflict. They pointed out that even during periods of relatively low inflation, the policy rate remained…

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ISLAMABAD April 27,2026– Federal Minister for Power, Sardar Awais Ahmed Khan Leghari, today briefed a visiting European Union delegation on the comprehensive transformation underway in Pakistan’s power sector, highlighting four strategic areas for modernization and inviting European investors to participate in the country’s ongoing privatization and infrastructure initiatives. During the meeting, the Minister underscored that the Power Division has prioritized the digitization of the national grid, with a specific focus on the large-scale deployment of smart meters, the expansion and upgrading of transmission lines, the integration of utility-scale battery storage…

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Bonn/Kyiv: Marking the 40th anniversary of the Chernobyl disaster, the World Wind Energy Association has emphasized that the world is steadily transitioning toward renewable energy, driven by lessons learned from past nuclear catastrophes and growing energy security concerns. On April 26, 1986, a reactor explosion at the Chernobyl nuclear power plant released massive amounts of radioactive material across Europe, causing widespread environmental contamination and long-term health impacts. The scale of the disaster was initially concealed by Soviet authorities, with its full extent only emerging weeks later. Decades on, the site…

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Lahore: Midea Hiconics has announced a strategic move to strengthen its presence in Pakistan’s renewable energy market, unveiling advanced solar solutions and signing a key distribution agreement with MIA Group at Solar Pakistan 2026. Exhibiting at Booth A-3-8, the energy division of Midea Group showcased a range of next-generation products specifically tailored to address Pakistan’s evolving energy needs and grid challenges. Among the highlights were the PowerX1 Hybrid Inverters, designed for intelligent energy management by seamlessly integrating solar, battery, and grid sources to ensure stable and uninterrupted power supply. The…

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Islamabad: Federal Minister for Petroleum, Ali Pervaiz Malik, has clarified that the recent revision in the diesel pricing formula was not made under any pressure, but resulted from a “voluntary” agreement between the Petroleum Division and local refineries. Speaking on the development, the minister said the interim pricing formula was devised after thorough consultations with a research team. He emphasized that the move is part of broader efforts to upgrade Pakistan’s refining sector and gradually transition towards full deregulation. Malik highlighted that the revised formula aims to ensure fair and…

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