Category: Shortcode

Punjab Withdraws Rs14 Power Subsidy for Islamabad, IMF Pressure Cited

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ISLAMABAD: The Punjab government has withdrawn the Rs14 per unit electricity subsidy for consumers in the Islamabad Capital Territory (ICT), effective immediately. The decision, reportedly influenced by International Monetary Fund (IMF) pressure, will result in higher electricity bills for residents of Islamabad and surrounding areas. The Islamabad Electricity Supply Company (IESCO) issued a notification confirming the discontinuation of the subsidy for the month of September. As a result, ICT consumers will now be billed according to the federal government’s revised electricity rates, which saw a hike of up to 51%…

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US to Assist Pakistan in Tackling Climate Change Impact, Says Ambassador Blome

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ISLAMABAD: United States Ambassador Donald Blome inaugurated the “Recharge Pakistan” initiative, a landmark climate project focused on enhancing flood resilience and water security in Pakistan’s most vulnerable regions. Speaking at the Pakistan Institute for Parliamentary Services, Ambassador Blome highlighted the US commitment to strengthening its partnership with Pakistan to protect climate-vulnerable communities and build a sustainable, climate-resilient future. The initiative, supported by the US in collaboration with Coca-Cola, Green Climate Fund (GCF), World Wide Fund (WWF), and the Pakistan government, aims to mitigate climate risks through green infrastructure projects. These…

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KE Staff Attacked Amid Anti-Theft Operation, Held Hostage by Protesters

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KARACHI: K-Electric (KE) staff faced violent resistance during an anti-electricity theft operation in Karachi’s Gizri and Punjab Colony areas on Tuesday. KE spokesperson Imran Rana reported that power thieves attacked and held some staff members hostage at gunpoint while attempting to forcibly restore illegal connections. The operation sparked protests, with demonstrators blocking major roads across the city, causing severe traffic disruptions. Key areas, including Sharae Faisal and Korangi Road, experienced long traffic jams due to the organised protests. KE urged law enforcement to take action against the attackers and reaffirmed…

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Pakistan Faces $30bn Loss After Devastating Floods, Urges Swift Action on Reconstruction

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ISLAMABAD: Federal Minister for Planning, Development & Special Initiatives, Ahsan Iqbal, chaired a high-level meeting to review the progress of post-flood reconstruction projects under the Resilient, Rehabilitation, and Reconstruction Framework (4RF). The meeting, attended by senior government officials and international representatives from the World Bank, ADB, UN, and EU, focused on assessing ongoing projects and the status of global financial pledges. Iqbal revealed that the 2022 floods caused $30 billion in economic losses, with recovery efforts requiring $16.2 billion. So far, international pledges total $10.9 billion, leaving a significant shortfall.…

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CCP Approves 11.9% Share Acquisition in SECMC by IEPWR

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ISLAMABAD: The Competition Commission of Pakistan (CCP) has granted approval for International Electric Power (Pvt) Ltd (IEPWR) to acquire 11.9% of the paid-up ordinary share capital of Sindh Engro Coal Mining Company (SECMC) Ltd under a Share Purchase Agreement (SPA). IEPWR, formed in March specifically for this transaction, is jointly owned by Liberty Power Holding, Soorty Enterprises, and Procon Engineering. SECMC is a prominent player in Pakistan’s coal mining sector, while the seller, Engro Energy Ltd, is a key subsidiary of Engro Corporation focusing on energy investments. The CCP’s competition…

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