Author: Admin

KARACHI: In a major boost to Pakistan–Saudi economic cooperation, the Government of Sindh and a high-level Saudi business delegation on Thursday signed two landmark Memorandums of Understanding (MoUs) aimed at expanding collaboration in energy and investment. The agreements were signed during a ceremony hosted by Chief Minister Syed Murad Ali Shah at the Chief Minister’s House, attended by Prince Mansour bin Mohammed Al Saud, Chairman of the Saudi-Pak Joint Business Council, and a 30-member Saudi delegation representing leading investors and business groups. The first MoU pertains to the sale and…

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KARACHI: In a significant development for Pakistan–Saudi investment ties, the government has successfully resolved a long-standing dispute between Pakistani investor Sheharyar Chishti and Saudi shareholders in K-Electric (KE), clearing the path for a majority acquisition by a Saudi investor. According to official sources, Prince Mansour Bin Mohammed Al Saud has signed a Memorandum of Understanding (MoU) with Chishti for the acquisition of a controlling stake in KES Power Ltd, the parent company holding 66.4% ownership in K-Electric. This agreement marks the largest Saudi investment in Pakistan’s power sector to date…

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KARACHI: The National Electric Power Regulatory Authority (NEPRA) has imposed a fine of Rs25 million on K-Electric (KE) for failing to meet its operational responsibilities during the nationwide power breakdown in January 2023. The utility has been directed to pay the penalty within 15 days. According to a notification issued by NEPRA, the decision followed an inquiry revealing that KE’s repeated attempts to restore electricity through its black start facilities — systems designed to restart power generation after a complete blackout — were unsuccessful due to frequent tripping. “Repeated failures…

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ISLAMABAD: The federal cabinet on Thursday approved the formation of a special security force dedicated to safeguarding Pakistan’s major dams and hydropower projects. The decision came during a meeting chaired by Prime Minister Shehbaz Sharif, who reaffirmed the government’s commitment to eliminating terrorism and securing the nation’s critical infrastructure. According to an official statement issued by the PM Office, the cabinet granted in-principle approval for legislation to establish the force under the Water and Power Development Authority (WAPDA). The move aims to ensure enhanced protection for strategic water and energy…

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KARACHI (Oct 9): Sindh Chief Minister Syed Murad Ali Shah has said that flood-affected people must be helped beyond political differences, calling recent tensions over flood relief [between Sindh and the Punjab] “unfortunate.”He said this while talking to the media at the 25th Annual Convention of the Management Association of Pakistan (MAP), organised at a local hotel.Replying to a question, he said that flood-affected people must be helped beyond political differences, calling recent tensions over flood relief [between Sindh and the Punjab] “unfortunate.” He said Chairman Bilawal Bhutto-Zardari had spoken…

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