Author: Admin

HONG KONG: Chinese electric vehicle giant BYD expects exports to account for about 20% of its global sales in 2025, buoyed by new model launches and expanded shipping capacity, the South China Morning Post reported on Monday. The company forecasts between 800,000 and 1 million deliveries outside mainland China next year, against projected total sales of 4.6 million units. That figure reflects a cut of up to 16% in BYD’s 2025 sales target, as reported by Reuters earlier this month, amid slowing growth and signs that the EV maker’s rapid…

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KARACHI: Power Cement Limited (PCL) and Burj Clean Energy Modaraba (BCEM) have signed Pakistan’s first-ever green captive power transaction — a landmark Rs1.5 billion deal to set up a 7.5MW wind captive power plant. According to a filing at the Pakistan Stock Exchange (PSX) on Monday, the project marks a major step in Pakistan’s industrial decarbonization drive and transition to sustainable energy. The initiative is being financed through a consortium led by The Bank of Punjab (BOP), with participation from the National Bank of Pakistan (NBP) and Pak Kuwait Investment…

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ISLAMABAD: Contractors of the World Bank–funded Islamabad–West Grid Station (IWGS) project have served suspension notices citing the National Grid Company’s (NGC), formerly NTDC, alleged failure to meet contractual obligations, well-placed sources told Business Recorder. In a formal notice under contract WB-DTLP-IWGS/2024, the Joint Venture (JV) of NWEPDI–TBEA accused the Employer of non-performance and outstanding reimbursements. The World Bank Resident Mission and the Ministry of Economic Affairs have also conveyed the matter to the Power Division. The JV — comprising Northwest Electric Power Design Institute Co. Ltd. of China Power Engineering…

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ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has directed the Ministry of Railways and the Finance Division to present a comprehensive execution and refinancing plan for the Reko Diq rail agreements by March 30, 2026, official sources told Business Recorder. The Ministry of Railways informed the ECC that the Reko Diq copper-gold project, declared a ‘qualified investment’ under the Foreign Investment (Promotion and Protection) Act 2022, requires a dedicated rail link to transport concentrate from Balochistan to Port Qasim for export. The 1,350 km route via Main Line-III…

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ISLAMABAD: Pakistan has informed the International Monetary Fund (IMF) that it will not pay Rs220 billion in interest to Chinese independent power producers (IPPs) for delayed electricity payments and will instead seek a waiver from Beijing. The government only recognizes Rs250 billion as the principal amount due, rejecting the surcharge as part of the Rs1.7 trillion circular debt. During ongoing IMF talks for the release of $1.2 billion in loan tranches, the Power Division briefed the Fund that despite improved performance last year, the power sector’s circular debt will rise…

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