Author: Admin

Middle East Conflict Inflicts Billions in Losses on Global Aviation Industry

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New-Project88

Karachi: The escalating conflict involving the United States, Israel, and Iran has begun to take a heavy toll on the global aviation sector, with airlines across the Middle East and South Asia reporting massive financial losses due to widespread airspace closures and operational disruptions. According to industry estimates, Arab airlines collectively suffered losses of nearly USD 1 billion on the first day of the conflict alone. Within three days, cumulative losses reportedly surged to approximately USD 50 billion. In addition, declining airline share prices wiped out an estimated USD 23…

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Mobilink Bank, SEDF Partner to Unlock PKR 1 Billion in MSME Financing for Sindh’s Priority Sectors

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New-Project87

Karachi: Mobilink Bank has entered into a five-year strategic partnership with the Sindh Enterprise Development Fund (SEDF), operating under the Government of Sindh, to expand structured financing for micro, small, and medium enterprises (MSMEs) across Sindh’s key growth sectors. The collaboration aims to unlock up to PKR 1 billion in financing by combining Mobilink Bank’s lending expertise with SEDF’s markup subsidy support, significantly lowering the cost of capital for entrepreneurs and promoting sustainable economic activity throughout the province. Under the agreement, Mobilink Bank will offer short-, medium-, and long-term financing…

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Rehabilitated Incineration Plant in Mewa Shah Now Disposing 18 Tons of Medical Waste Daily

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Murtaza-Wahab

Karachi: In a major step towards strengthening environmental protection and public health safeguards in the city, Murtaza Wahab inaugurated the rehabilitated incineration plant of Karachi Metropolitan Corporation (KMC) at the Trans Lyari Site Area in Karachi. The inauguration ceremony was attended by members of the KMC City Council, elected representatives, and senior officials. Speaking on the occasion, Mayor Wahab said the incineration plant, equipped with modern technology, is now fully operational and will provide an effective and environmentally responsible system for the safe disposal of medical waste in the metropolis.…

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Power Division Plans to Cut Average Electricity Tariff to Rs28.99/kWh, Phase Out TDS

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electricity-tariffs

ISLAMABAD: The Power Division is working on a plan to reduce the national average electricity tariff to Rs28.99 per kilowatt-hour (kWh) and eliminate the Tariff Differential Subsidy (TDS) by late June 2027, well-informed sources told Business Recorder. For calendar year 2026, the National Electric Power Regulatory Authority (NEPRA) has already set the average national tariff at Rs31.59 per kWh, down from Rs32.73 per kWh in 2024-25. The proposed reduction aims to further ease consumer burden while improving sector sustainability. The Power Division is expected to brief the visiting International Monetary…

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PMLTC Seeks Rs60.75bn Overdue Payments from CPPA-G, NGC Under TSA

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New-PMLTC

ISLAMABAD: The Pak-Matiari Lahore Transmission Company (PMLTC) has formally requested the clearance of overdue payments amounting to Rs60.752 billion from the Central Power Purchasing Agency-G (CPPA-G) and the National Grid Company (NGC) under the Transmission Services Agreement (TSA). In a letter addressed to the Managing Director of NGC, PMLTC Chairman and CEO Xiong Feng referred to the legally binding TSA signed on May 14, 2018. Citing Section 9.5 of the agreement, he emphasised that the purchaser is required to settle invoiced amounts within 30 days of receipt. According to PMLTC,…

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