Category: Latest News

K-Electric Secures Rs4.4bn in Pakistan’s First Retail Sukuk IPO

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K-Electric

KARACHI: K-Electric has successfully raised Rs4.4 billion through Pakistan’s first listed short-term sukuk for retail investors, more than doubling its initial target of Rs2 billion. The Initial Public Offering (IPO), which closed on Wednesday, attracted strong interest from both institutional and retail investors, with over 600 individual applicants participating. Proceeds from the sukuk will be used to meet KE’s operational needs and working capital requirements. In its statement, KE highlighted the IPO as a milestone in advancing Islamic finance and widening financial inclusion. “This offering broadens access to investment opportunities,…

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FPCCI Trade Delegation in Oman on a Landmark Visit

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New-Project7

Karachi: Oman – Pakistan Business Forum has been successfully organized at Oman Chamber of Commerce & Industry (OCCI) during FPCCI trade delegation’s visit to the brotherly country – which is being led by Mr. Saquib Fayyaz Magoon, SVP FPCCI. Engr. Hamoud Bin Salem Al-Saadi, Acting Chairman of OCCI, warmly welcomed the delegates. The forum was attended by H.E. Syed Naveed Bokhari, Ambassador of Pakistan in Oman; Mr. Aman Paracha, VP FPCCI; Sheikh Nadeem Mehboob Magoon, Chairman of FPCCI’s Pakistan – Oman Business Council; Senior FPCCI members; Omani businessmen and prominent…

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Solar Power Poised to Reshape Pakistan’s Energy Landscape: Saifur Rehman

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Solar-wind

LAHORE: Federal Tax Ombudsman (FTO) Coordinator Saifur Rehman has said that the rising demand for affordable electricity and the high cost of imported fossil fuels are making renewable energy an increasingly viable and sustainable option for Pakistan. Speaking to a delegation of industrialists led by Zia Ur Rehman, he identified solar energy as the most promising alternative, pointing to Pakistan’s year-round abundance of sunlight as a natural advantage that could reduce reliance on expensive thermal generation. He noted that supportive government measures—such as net metering, tax exemptions on solar equipment,…

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OCAC Calls on Oil Industry to Safeguard Fuel Supply Amid Flood Threat

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New-OCAC

KARACHI: The Oil Companies Advisory Council (OCAC) has urged refineries and oil marketing companies (OMCs) to take precautionary measures to ensure uninterrupted fuel supply and safe operations as Pakistan braces for severe flooding. In a meeting held on September 1 with industry stakeholders, including refineries and OMCs, the council reviewed the evolving flood situation in Punjab and its likely movement toward Sindh, warning of a potential “super flood.” To mitigate risks, the OCAC advised member companies to maximise product upliftment from refineries and pipelines, maintain depot and terminal stocks at…

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Oil Sales Up 5% in First Two Months of FY26 on Price Cuts, Curb in Smuggling

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Petrol-oil

KARACHI: Pakistan’s oil sales rose 5 percent year-on-year (YoY) to 2.5 million tonnes in the first two months of FY26, compared with 2.4 million tonnes in the same period last year, driven by easing petroleum prices, improved automobile sales, and reduced smuggling from Iran. In August alone, sales increased 7 percent YoY and 6 percent month-on-month (MoM) to 1.3 million tonnes. Excluding furnace oil (FO), sales for the month stood at 1.28 million tonnes, up 11 percent YoY and 6 percent MoM, while July–August ex-FO volumes rose 10 percent YoY…

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