ISLAMABAD: The government has formally invited expressions of interest from local and international investors for the privatisation of three major electricity distribution companies(DISCOs): Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO), and Islamabad Electric Supply Company (IESCO), according to a statement on Tuesday. Investors can acquire between 51% and 100% shareholding with management…
Petroleum Minister Ali Pervaiz Malik witnesses the signing ceremony of Production Sharing Agreements and Exploration Licences for offshore exploration blocks awarded under the Offshore Bid Round 2025, on Wednesday. Photo: Facebook Pakistan formally reopened its offshore exploration frontier after nearly two decades on Wednesday as the government signed Production Sharing Agreements (PSAs) and Exploration Licences…
Secretary agriculture sees stable prices, improved market as seed cotton crosses Rs11,000/maund LAHORE: Punjab’s cotton sector has shown encouraging signs ahead of the peak sowing season, with Bahawalpur division achieving about 80% of its cultivation target as authorities expressed optimism over stable international prices and improved local market conditions. The development came during a high?level…
ISLAMABAD: A parliamentary panel on Tuesday asked the government to explain the reasons for keeping a key position of deputy governor at the central bank vacant for the past one and a half years, as it also expressed dissatisfaction over the performance of the debt office. The Senate Standing Committee on Finance instructed both the…
Modern, climate-resilient design to upgrade key transport corridor linking three provinces ISLAMABAD: The Economic Affairs Division (EAD) and the Asian Infrastructure Investment Bank (AIIB) have signed a loan agreement of $320.16 million for the reconstruction of critical sections of National Highway N-5 under Pakistan’s Resilient Recovery, Rehabilitation and Reconstruction Framework Project, according to a statement…
KARACHI: Foreign companies operating in Pakistan repatriated $172 million in profits during April 2026, marking a significant 42% increase compared to the same month of last year, according to data released by the State Bank of Pakistan (SBP). The sharp rise was primarily driven by the financial business sector, which accounted for $72 million in…
Index touches intraday high of 163,814 amid positive investor sentiment, easing oil prices KARACHI: The Pakistan Stock Exchange (PSX) witnessed a cautious yet positive start to Wednesday’s trading session, with the benchmark KSE-100 Index showing early signs of stability amid improving investor sentiment. The benchmark KSE-100 Index was trading at 163,611.87 with gains of 715.19…
ISLAMABAD: The government announced on Tuesday that it had given in-principle approval for selling 30% shares of Pakistan National Shipping Corporation (PNSC) to National Logistics Corporation (NLC) along with management control, kicking off the process to meet formalities. It also announced a technical supplementary grant “amounting to Rs160 million for repair and maintenance of the…
Brokerage estimates transport index up 6.9%, food up 1.5% and SBP policy tightening KARACHI: Pakistan’s headline inflation is projected to rise to 12.2% year-on-year in May 2026 as mounting fuel and food prices outweigh relief from lower electricity charges, according to Optimus Capital Management. The brokerage expects the National Consumer Price Index (NCPI) to increase…
ISLAMABAD: The Special Investment Facilitation Council (SIFC) has stepped in to revive almost two-decade-old Tuwairqi Steel Mills project, owned by a Saudi group, by approving the supply of gas – a critical input for steel production. An agreement for setting up the mill had been signed during the tenure of Pervez Musharraf’s government but later…