Category: Latest News

NA Panel Criticises Discos Over Rampant Unannounced Loadshedding

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Load-shedding

ISLAMABAD: The National Assembly’s Committee on Cabinet Secretariat on Wednesday condemned the widespread unannounced loadshedding by electricity distribution companies (Discos), terming it a violation of policies and directions set by the National Electric Power Regulatory Authority (Nepra). Committee Chairman Malik Ibrar Ahmad announced that officials from the Power Division will be summoned in the next meeting to explain the issue. The panel was informed that load management was being carried out under the Aggregate Technical and Commercial (AT&C) Loss Policy on the instructions of the Power Division. Mr Ahmad, however,…

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Cnergyico Secures Second US Crude Cargo After Successful Trial

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Cnergyico-Ltd

KARACHI: Pakistan’s largest oil refiner, Cnergyico, has booked a second shipment of US crude after deeming its initial purchase commercially viable, Vice Chairman Usama Qureshi said on Wednesday, signaling the possibility of sustained imports. The company will receive a 1 million-barrel cargo of West Texas Light (WTL) crude in November under a term supply arrangement with European trader Vitol, Qureshi confirmed. “This is our second cargo. Our trading team evaluated several options for November and found WTL’s gross refining margin slightly better than Gulf crude,” he said, adding, “If economics…

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Power Stocks Lead PSX Rally Amid Circular Debt Deal Hopes

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Circular-Debt

KARACHI: The Pakistan Stock Exchange (PSX) extended its positive run on Wednesday as optimism grew over a major financing agreement between the government and commercial banks to address the country’s mounting power sector circular debt. Despite investor caution ahead of the upcoming IMF review for the release of a $1 billion tranche starting September 25, the benchmark KSE-100 index crossed the 158,000-point barrier during the session. According to Topline Securities, the index gained as much as 1,101 points intraday before profit-taking trimmed the advance. It eventually closed at 158,236 points,…

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OGDC Reports Rs9.37 EPS in Q4; Announces Record Dividend

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ogdc-new

KARACHI: Oil and Gas Development Company Limited (OGDC) posted earnings per share (EPS) of Rs9.37 in the fourth quarter of FY25, a 15% decline quarter-on-quarter but 6% higher year-on-year. This took full-year EPS to Rs39.5, down 19% from FY24. The company announced its highest dividend since listing, declaring Rs5 per share for Q4, bringing the full-year payout to Rs15.05 per share. This translates into a payout ratio of 38%, up from 21% last year and marking a six-year high. Analysts attributed stronger-than-expected quarterly earnings to lower exploration costs and a…

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Saudi Arabia Renews Investment Push in Pakistan’s Oil, Gas and Mining Sectors

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oil price

KARACHI: Saudi Arabia has renewed its interest in investing in Pakistan, with a particular focus on oil, gas, and mining projects, according to an official document seen by The News. The development follows the recent signing of a strategic defence pact between the two countries, which has paved the way for deeper economic cooperation. The Special Investment Facilitation Council (SIFC) has directed ministries and departments to share project details, supported by technical and bankable feasibility studies, to facilitate Saudi investment. Potential projects include establishing new refineries, upgrading existing facilities, developing…

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