Category: Latest News

FCC Upholds Super Tax, Overturns High Court Rulings; Limited Relief for Energy Sector

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FCC-Project

Islamabad: In a landmark constitutional and fiscal verdict, the Federal Constitutional Court (FCC) on Tuesday upheld the legality of the super tax and set aside earlier judgements of the high courts that had struck down or diluted the levy, declaring that Parliament has exclusive authority to impose taxes. Announcing its short order, a three-member FCC bench headed by Chief Justice Aminuddin Khan, and comprising Justice Syed Hasan Azhar Rizvi and Justice Syed Arshad Hussain Shah, ruled that Sections 4-B and 4-C of the Income Tax Ordinance (ITO) 2001 are intra…

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Dr. Munwar Iqbal Kamboh Appointed Acting MD of PPIB

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New-Project37

Islamabad: The federal government has appointed Dr. Munwar Iqbal Kamboh as the Managing Director of the Private Power and Infrastructure Board (PPIB) on a temporary basis for a period of three months. Prior to this appointment, Dr. Kamboh was serving as Director General (Hydel) at PPIB, where he was overseeing all private-sector hydropower projects currently under construction. He brings extensive experience in managing and supervising energy infrastructure projects, particularly in the hydropower sector. Dr. Munwar Iqbal Kamboh has replaced Mr. Shah Jahan Mirza, who served as the head of PPIB…

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Reko Diq To Be Standard Setter for Mineral Sector; Will Open Opportunities for Pakistan Australia Collaboration

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New-Project36

Press ReleasesIslamabad: January 27,2026 Federal Minister for Petroleum, Mr. Ali Pervaiz Malik, held a meeting today with the new Australian High Commissioner to Pakistan, H.E. Mr. Timothy Kane, to discuss avenues for enhanced bilateral cooperation in the mining and gemstones sectors. The Federal Minister welcomed the strong interest of Australian companies in Pakistan’s mining sector and highlighted the country’s immense untapped mineral potential, particularly in the Tethyan Belt. He proposed the possibility of an Intergovernmental Agreement (IGA) between Pakistan and Australia to promote structured and long term cooperation in the…

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SSGC Pledges Priority Gas Supply to Industry Amid Winter Shortfalls

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SSGC

KARACHI: Chairperson of Sui Southern Gas Company Limited (SSGC), Asif Inam, has reaffirmed the utility’s commitment to providing gas to the industrial sector on a priority basis alongside domestic consumers, underscoring that uninterrupted industrial activity is essential for Pakistan’s economic stability. Speaking to industrialists during a visit to the Korangi Association of Trade and Industry (KATI), he said several new members had recently joined the SSGC board, most of whom are key stakeholders with a strong grasp of the company’s operational challenges and possible solutions. He acknowledged that acute winter…

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MARI Earnings Fall 18% QoQ as Rising Costs Squeeze Margins

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Mari-Energies

KARACHI: Mari Energies Limited (MARI) posted an 18 per cent quarter-on-quarter decline in earnings for the second quarter of FY26, reporting a profit of Rs10.66 per share, as higher-than-anticipated operating and exploration costs weighed on margins. Despite the quarterly drop, the oil and gas exploration company recorded a 15 per cent year-on-year increase in earnings for the quarter. However, cumulative earnings for the first half of FY26 stood at Rs23.89 per share, marking a 6 per cent decline compared to the same period last year. Net sales during 2QFY26 reached…

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