Category: Latest News

SNGPL Warns Power Sector Dues Have Reached ‘Alarming’ Rs114.287 Billion

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SNGPL-Office

ISLAMABAD: Sui Northern Gas Pipelines Limited (SNGPL) has alerted the government that its receivables from the power sector have surged to an alarming Rs 114.287 billion, pushing the company into severe liquidity stress, official sources told Business Recorder. According to SNGPL’s General Manager (Recovery), several power plants have expressed their inability to clear outstanding dues due to delayed releases from the Central Power Purchasing Agency–Guaranteed (CPPA-G). As a result, SNGPL is struggling to meet its own payment obligations to upstream gas suppliers. Out of total receivables of Rs 165.256 billion,…

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Budget 2025–26 Leaves Climate and Disaster Spending Undefined Despite Record Allocations

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New-Project67

ISLAMABAD: Despite strong government claims of prioritising climate resilience and disaster preparedness, the federal budget 2025–26 lacks clarity on how climate- and disaster-related allocations are defined, measured, or linked to Public Sector Development Programme (PSDP) projects. A key table in the Budget in Brief 2025–26 titled “Gender, Climate and Disaster” outlines broad allocations across gender initiatives, climate mitigation and adaptation, and disaster management. However, the document fails to show how these figures connect to actual PSDP projects—raising serious concerns about transparency and accountability. The government lists Rs 587.3 billion in…

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Pakistan, Kyrgyzstan Set $200m Trade Target by 2027-28, Sign 15 New Cooperation Agreements

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New-Project66

ISLAMABAD: Pakistan and Kyrgyzstan on Thursday agreed to raise bilateral trade to $200 million by 2027-28, setting an ambitious new benchmark as both countries push to deepen economic, energy, and strategic cooperation. The commitment came during high-level talks between Prime Minister Shehbaz Sharif and Kyrgyz President Sadyr Zhaparov in Islamabad. Senior officials—including Foreign Minister Ishaq Dar and Chief of Army Staff & Field Marshal Gen Syed Asim Munir—were present for the discussions, which focused on accelerating cooperation across trade, connectivity, energy and security. Prime Minister Sharif said the enhanced trade…

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Saudi Arabia Extends $3bn Deposit to Pakistan, Providing Crucial Breathing Space Amid Economic Strain

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saudi-pak

KARACHI: Saudi Arabia has extended the maturity of its $3 billion deposit held with the State Bank of Pakistan (SBP) for another year, offering continued financial support as the country navigates persistent liquidity pressures. The facility—channeled through the Saudi Fund for Development (SFD)—was first placed in 2021 and has since been rolled over multiple times to reinforce Pakistan’s macroeconomic stability. The deposit, previously set to mature on December 8, 2025, will now remain with the SBP until December 2026. Officials say the extension reflects Riyadh’s sustained commitment to bolstering Pakistan’s…

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Pakistan Proposes Central Asia–South Asia Energy Market to Strengthen Regional Connectivity

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Awais-Leghari

ISLAMABAD: Federal Minister for Power Awais Ahmed Khan Leghari on Thursday proposed the creation of a Central Asia–South Asia (CASA) energy market, inspired by the European energy grid model, to unlock the region’s full renewable and conventional power potential. The proposal was made during a meeting with Kyrgyzstan’s Minister for Energy, Ibrarv Taalaibek Omukeevich, in Islamabad. Leghari stressed the need for a practical, coordinated approach to expedite the CASA-1000 project, which aims to supply affordable, seasonally sourced electricity across the region. He noted that Pakistan’s section of the project is…

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