Category: Popular News

Govt Rejects Banks’ Demand for Higher EV Financing Rates

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ISLAMABAD: The government has rejected a proposal by commercial banks seeking an additional 5% interest on financing for electric two and three-wheelers, maintaining the current 11% rate. Banks argued the increase was necessary to cover insurance and operational costs. In response, the Steering Committee on the Electric Vehicle (EV) Policy, chaired by Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar Khan, announced plans to engage banks in discussions to ensure fair financing terms. The federal government has earmarked Rs9 billion in subsidies in the current…

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Hubco, PSO Launch First NEV Fast-Charging Station on Lahore-Islamabad Motorway

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KARACHI: Hubco Green (Pvt) Limited (HGL), a subsidiary of The Hub Power Company Limited, in collaboration with Pakistan State Oil (PSO), has inaugurated its first new energy vehicle (NEV) fast-charging station on the Lahore-Islamabad Motorway (M-2), marking a significant step in the country’s electric mobility transition. Announced via press release on Wednesday, the state-of-the-art station is located at the Magic River Rest Stop and features PSO’s modern Experience Hub, which includes NEV charging facilities, a contemporary Vibe Cafe, and a retail store. The launch is part of Hubco Green’s strategic…

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Power Generation Rises 21% in May Amid Lower Tariffs and High Demand

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KARACHI: Pakistan’s power generation surged by 21% in May 2025 compared to the previous month, fueled by reduced electricity tariffs, rising temperatures, and increased economic activity, according to data released by brokerage firm Topline Securities on Wednesday. Total electricity generation stood at 12,755 gigawatt-hours (GWh) in May, up from 10,513 GWh in April—marking the highest monthly output in the past nine months. “The government’s decision to cut electricity prices led to a significant uptick in demand,” said Topline CEO Mohammad Sohail. Year-on-year (YoY), power generation grew modestly by 1.0% compared…

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PM Shehbaz to Attend SCO Summit in China This August

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ISLAMABAD: Prime Minister Shehbaz Sharif will visit China in August to participate in the 25th Heads of State Council summit of the Shanghai Cooperation Organisation (SCO), scheduled to take place in the port city of Tianjin, according to sources at the PM House. During the high-profile summit, PM Shehbaz is expected to hold bilateral meetings with several key leaders, including Chinese President Xi Jinping, Russian President Vladimir Putin, and newly elected Iranian President Masoud Pezeshkian. The summit will bring together heads of state from all 10 SCO member countries, with…

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PM Orders Swift Privatisation of Loss-Making GENCOs, Boosts EV and Power Sector Reforms

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ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday directed authorities to accelerate the privatisation of loss-making power generation companies (GENCOs) and the rollout of electric vehicle (EV) charging infrastructure, while reiterating the government’s commitment to power sector reform and public relief. Chairing a high-level meeting in Islamabad, the prime minister ordered that the auction process for GENCOs be conducted with full transparency and broadcast live on national media. He was informed that the first phase of the GENCOs auction had already generated Rs9.05 billion in revenue, with the second and third…

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