Category: Latest News

ISLAMABAD: Shandong Xinxu Group Corporation of China has proposed setting up an Integrated Maritime Industrial Complex in Pakistan, marking a potential leap in bilateral cooperation in shipbuilding, port development, and the blue economy. The proposal was tabled during a meeting in Beijing between Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry and senior executives of the Chinese group. The minister welcomed the initiative and invited the firm to consider joint ventures with the Pakistan National Shipping Corporation (PNSC) in leasing and feeder services linked to Gwadar port. He also proposed collaboration…

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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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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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