Author: Admin

SECMC Signs Islamic Financing Pact with Meezan Bank to Expand Thar Block II Coal Mine

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SECMC-Meezan

KARACHI: Sindh Engro Coal Mining Company (SECMC) has signed an Islamic Facility Agreement with Meezan Bank Limited to finance Phase III of the Thar Block II coal mine expansion. The syndicated facility—comprising Meezan Bank (lead arranger), United Bank Limited, Askari Bank, Sindh Bank, and Pak China Investment Company—will support increasing coal production from 7.6 million tons per annum (MTPA) to 11.2 MTPA. This milestone is part of SECMC’s continued journey under the leadership of the Government of Sindh. Since its inception in 2019, SECMC has demonstrated the commercial viability of…

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FESCO Launches ‘Apna Meter, Apna Reading’ to Empower Consumers and Curb Overbilling

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apna-Meter

FAISALABAD: In line with the vision of Prime Minister’s “Digital Pakistan” initiative, Faisalabad Electric Supply Company (FESCO) has launched the innovative “Apna Meter, Apna Reading” program on the special directives of Federal Minister for Energy Awais Leghari and FESCO CEO Engr. Muhammad Aamer. This groundbreaking initiative enables electricity consumers to submit their own meter readings via the Power Smart App, enhancing transparency, efficiency, and accountability in the billing process. According to a FESCO spokesperson, the program aims to reduce overbilling and human errors while empowering consumers to take control of…

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CTBCM to Enter Final Phase by September: Leghari Assures World Bank

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Awais-Leghari

ISLAMABAD: Federal Minister for Power, Sardar Awais Ahmad Khan Leghari, has announced that the Competitive Trading Bilateral Contract Market (CTBCM) will enter its final implementation phase within the next two months, with commercial operations expected to begin by the end of September 2025. The announcement came during a meeting with a high-level World Bank delegation led by Ousmane Dione, Regional Vice President for the Middle East, North Africa, Afghanistan, and Pakistan. CTBCM will empower Bulk Power Consumers (BPCs) — those using 1MW or more — to procure electricity directly through…

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China’s BYD to Begin Assembling EVs in Pakistan by 2026 Amid Surging Demand

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BYD-Pakistan

KARACHI: Chinese electric vehicle (EV) giant BYD plans to roll out its first locally assembled car in Pakistan by July or August 2026, aiming to tap into the rapidly growing demand for EVs and plug-in hybrid vehicles in the region, a company executive confirmed on Wednesday. Danish Khaliq, Vice President of Sales and Strategy at BYD Pakistan, told Reuters that the company is building a plant near Karachi in partnership with Mega Motor Company, a subsidiary of Hub Power (Hubco). Construction began in April 2024. The facility will have an…

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K-Electric’s NEPRA-Approved Tariff Is Unjustified, Admits Federal Minister Owais Leghari in Senate

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NEPRA-KE

Islamabad: Federal Minister for Energy Owais Leghari admitted during a Senate session that the tariff approved by NEPRA for K-Electric is unjustified. Responding to a calling attention notice, the minister stated that K-Electric claims it is unable to recover 6.5% of its billed amount and insists that either the government or consumers should bear this loss—a demand he termed unacceptable. He revealed that the government has filed a review petition with NEPRA against the decision, and if accepted, it could save Pakistan Rs. 650 billion over the next seven years.…

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