Hub Power Company (Hubco) has kicked off talks to acquire a stake in the country’s top coal-rich mine that is supplying black gold to run power plants, believing that the acquisition will prove financially beneficial. Besides, Kot Addu Power Company (Kapco) is attempting to acquire a wind power project of 49.5 megawatts located in Sindh, diversifying its operations by embracing clean energy. Hu
The government has missed the deadlines set by the Special Investment Facilitation Council (SIFC) to secure support from official and private creditors for the division of Pakistan International Airlines (PIA) into two entities, a prerequisite for privatisation. Formal decisions have not been made on whether the privatisation ministry aims to sell the airline to a foreign government through neg
Lasbela Chamber of Commerce and Industry (LCCI) President Ismail Suttur has said that the exclusive emphasis on only five zero-rated export sectors and the prioritisation of policies are significant obstacles hindering economic and industrial development. In a statement issued on Tuesday, the resident LCCI rejected the government’s policy of prioritising only five sectors for the benefits aimed
The government raised Rs162 billion through the auction of Pakistan Investment Bonds (PIBs) at reduced cut-off yields on Tuesday. It remained below the target of Rs190bn but much higher than the maturing amount of just Rs3bn on the same date. The government has accumulated the largest debt through auctions of PIBs. The State Bank’s data showed that the borrowing through PIBs increased by Rs2
Ahead of the final review next month with the International Monetary Fund (IMF) of the ongoing $3 billion Stand-By Arrangement, the Power Division on Tuesday confirmed to have finalised a plan to reduce power tariffs for the industrial sector to revive economic activities, create job opportunities and address circular debt challenge. Testifying before the Senate Standing Committee on Power, Sec