Author: Admin

ISLAMABAD: Federal Minister for Energy Sardar Awais Ahmad Khan Leghari held talks with an Asian Development Bank (ADB) delegation led by Director of Energy Joonho Hwang on Thursday, focusing on reforms, privatization, and clean energy initiatives in Pakistan’s power sector. The minister said the government has prioritized structural reforms, including the privatization of three Distribution Companies (DISCOs) in the first phase under the Public-Private Partnership (PPP) model. He acknowledged ADB’s longstanding support in promoting PPP frameworks and integrated energy planning, adding that both technical assistance and investment will be critical…

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STAVANGER: Norway has taken a major step toward zero-emission aviation with the first real-world test of an electric cargo flight between Stavanger and Bergen, airport operator Avinor announced on Thursday. The Alia aircraft, built by US manufacturer Beta and operated by Bristow Norway, completed the 160-kilometre journey in 55 minutes, simulating a cargo route in southeastern Norway. “This is the first time an electric plane has flown the trade route between Stavanger and Bergen. Everything went very well,” said Avinor director Karianne Helland Strand. The test, conducted under visual flight…

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KARACHI: Pakistan’s fragile economy is struggling to attract sustainable investment as policy instability, weak governance, and mounting climate risks erode investor confidence, according to a joint report by the Association of Chartered Certified Accountants (ACCA) and the Pakistan Business Council (PBC). The study warns that despite government pledges to pursue export-led growth and sustainable development, Pakistan lags in embedding sustainability into its economic framework. Foreign direct investment remains scarce, with green financing even harder to secure due to political uncertainty, regulatory unpredictability, and perceptions of fragile returns on long-term projects.…

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ISLAMABAD: Shandong Xinxu Group Corporation of China has proposed setting up an Integrated Maritime Industrial Complex in Pakistan, marking a potential leap in bilateral cooperation in shipbuilding, port development, and the blue economy. The proposal was tabled during a meeting in Beijing between Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry and senior executives of the Chinese group. The minister welcomed the initiative and invited the firm to consider joint ventures with the Pakistan National Shipping Corporation (PNSC) in leasing and feeder services linked to Gwadar port. He also proposed collaboration…

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KARACHI: K-Electric has successfully raised Rs4.4 billion through Pakistan’s first listed short-term sukuk for retail investors, more than doubling its initial target of Rs2 billion. The Initial Public Offering (IPO), which closed on Wednesday, attracted strong interest from both institutional and retail investors, with over 600 individual applicants participating. Proceeds from the sukuk will be used to meet KE’s operational needs and working capital requirements. In its statement, KE highlighted the IPO as a milestone in advancing Islamic finance and widening financial inclusion. “This offering broadens access to investment opportunities,…

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