Kuwait’s petroleum exploration firm begins withdrawal from Pakistan
KUFPEC sells its assets worth $60 million in several blocks to Pakistan Exploration Limited (PEL) to reinvest in other countries
Topline calls the top on the sharp rise in Mari Petroleum’s stock
Star analyst Sunny Kumar says the market has gotten ahead of all known information, and expects the stock to have a 20% downside from current levels
Pakistan’s textile exports rise 10.5% to $7.61bn in first five months of FY25
Ready-made garments and knitwear lead export growth; yarn exports dip sharply
Pakistan’s large-scale manufacturing contracts 0.64% in first four months of FY24
Industrial output sees three consecutive months of decline since August
Textile units may need NOC for subsidies over unpaid cotton cess
PCCC explores recovery mechanisms and plans a National Cotton Conference for sustainable sector growth.
ADB approves $200mn loan to modernise power distribution infrastructure in PakistanÂ
At least 332,000 advanced metering and data management systems and 15,800 online transformer performance monitors will be installed in LESCO, MEPCO, and SEPCO
K-Electric attracts lowest bids for 150 MW solar projectsÂ
Nepra praises the Karachi-based power utility for its integration of sustainable energy into the power generation mix
Power sector losses exceed Rs660 billion in FY24 as inefficiencies rise
Transmission and distribution leakages alone accounted for an estimated Rs281 billion of the total losses
84 Pakistani textile mills blacklisted by ICA for defaulting on cotton deals
Mills banned from international cotton markets; Crescent Fibres, Mausummery Lawn, Din Industries among banned factories
Extreme heat threatens apparel hubs in Pakistan, Bangladesh, and Vietnam: report
Extreme heat and flooding could erase $65 billion in apparel export earnings from Bangladesh, Cambodia, Pakistan and Vietnam by 2030
NEPRA approves transition from LIBOR to SOFR for power producersÂ
New interest rate formulas to impact 59 IPPs, effective from July 1, 2023
Rs1.96/unit uniform tariff adjustment approved for first quarter FY2024-25Â
Quarterly adjustments aimed at recovering Rs1.187 billion from Discos and K-Electric consumers in December bills
Sui Southern Gas Company reports significant profit turnaround
Gross profit rose by 114% YoY for the quarter ending Sep 2023
Revised agreements with IPPs to cut electricity tariffs by Rs5/unit, says energy minister
Leghari announces government will stop purchasing electricity from Independent Power ProducersÂ
Govt renegotiates Power Purchase Agreements with eight IPPs
Remaining deals are expected to be finalised in the next two weeks; deals aim to save billions for consumers