The federal cabinet on Tuesday approved the power division’s recommendation to revise the negotiated settlement agreements with 14 independent power producers (IPPs) aimed at reducing electricity costs and saving Rs1.4 trillion for the national exchequer. In October, the government prematurely terminated power purchase agreements with five of the oldest IPPs with the move projected to save Rs41
Pakistan and Iraq have signed a protocol to explore ways to strengthen bilateral economic cooperation. The protocol was signed during the 9th session of the Pakistan-Iraq Joint Ministerial Commission in Baghdad. Commerce Minister Jam Kamal Khan co-chaired the session with his Iraqi counterpart on Tuesday. In an announcement, the commerce ministry said the session marked a pivotal moment in
Despite the absence of sales numbers by Saazgar Engineering Works Ltd, the entire auto sector, barring the tractor segment, showed robust sales performance during IHFY25. Sales of cars, LCVs, pickups and vans surged 54 per cent to 60,676 units in July-December 2024-25 from 39,453 units in the corresponding period last year thanks to declining interest rates, increasing remittances and falling i
The government on Tuesday sought private sector support in routing their cargoes through Gwadar Port whose capacity utilisation has remained far short of its potential owing to insufficient marketing. At a meeting on the commercialisation of the port, the National Logistic Cell (NLC) contested criticism from the Planning Commission over its purported higher rates. The meeting, second in less th
The federal cabinet on Tuesday approved a new power supply system for special economic zones (SEZs) and industrial estates, aiming to accelerate industrial development and simplify electricity management. According to the Prime Minister’s Office (PMO), the Cabinet Committee on Energy allowed the provision of power supply to SEZs and industrial estates at a single point and allowed their managem