Category: Latest News

ISLAMABAD: Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar on Friday chaired a meeting of the Steering Committee overseeing the privatisation process of electricity distribution companies (Discos), and reviewed progress on the first batch of entities. The committee was briefed by the Privatisation Commission on the current status and progress of Batch-I Discos, including IESCO, FESCO, and GEPCO. The meeting expressed satisfaction over the pace of work and directed the Commission to complete the process within the agreed timelines. Senator Dar emphasised that while privatisation is aimed at…

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ISLAMABAD: The federal government has earmarked Rs91 billion for 49 ongoing and new power sector development projects under the Public Sector Development Programme (PSDP) 2026-27, according to official budget documents. Out of the total allocation, Rs86.823 billion has been reserved for ongoing schemes, including Rs75.431 billion in foreign funding (rupee cover) and Rs11.392 billion in local financing. After the inclusion of three new schemes worth Rs4.177 billion, the overall foreign funding component will rise to Rs79.607 billion, while local financing remains unchanged. The funding will support key transmission, distribution, and…

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ISLAMABAD: The Oil Companies Advisory Council (OCAC) has voiced strong opposition to a proposed government move to recover inventory valuation gains from oil marketing companies (OMCs), warning that such a measure could undermine energy security, market stability, and the sustainability of Pakistan’s petroleum supply chain. In a letter addressed to the Secretary Petroleum Division, the OCAC expressed concern over media reports suggesting that a high-level committee had been formed to review the cross-subsidy mechanism and examine the recovery of inventory gains arising from fluctuations in international oil prices. The council…

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FAISALABAD: Construction work on the Eastern Wastewater Treatment Plant (EWTP), Punjab’s second-largest wastewater treatment facility, has officially resumed after a temporary suspension caused by security concerns raised by the Danish contractor and its international staff. The Water and Sanitation Agency (WASA) Faisalabad has stepped up monitoring of the mega project to ensure its timely completion. A ceremony marking the resumption of construction was held at the project site, where Project Director Hafiz Owais Jamal formally inaugurated the work. The event was attended by representatives of Danish contractor MUNCK Civil Engineering,…

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ISLAMABAD: Industry leaders at the Pakistan Chemical Expo 2026 emphasized the strategic importance of the chemical and petrochemical sector, saying the development of a world-scale petrochemical complex could significantly reduce Pakistan’s import bill and enhance export earnings. Speaking at the opening session, Faheemur Rehman Sehgal, President of the Lahore Chamber of Commerce and Industry (LCCI), highlighted the critical role of the chemical industry in supporting key sectors, including textiles, pharmaceuticals, agriculture, construction, packaging, and automobiles. He noted that the sector possesses strong potential to become globally competitive. Chairman of the…

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