Author: Admin

ISLAMABAD: The Government of Pakistan is facing a serious arbitration threat from Saudi and Kuwaiti investors — key shareholders in K-Electric — who have served a USD 2 billion notice over mounting financial, regulatory and governance disputes, sources told Business Recorder. If initiated, this would mark the third major international arbitration in Pakistan’s power sector after cases involving Halmore Power Company and Star Hydropower. A formal notice of dispute was issued by international law firm Steptoe LLP to the Attorney General for Pakistan on November 12, 2025, under the OIC…

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LAHORE: Chairman Wapda Lt Gen (Retd) Muhammad Saeed and Liu Huailiang, Chairman of China Gezhouba Group International Engineering Co. Ltd (CGGC), held a high-level meeting to review and accelerate construction progress on the Dasu Hydropower Project (DHPP), a flagship initiative central to Pakistan’s long-term energy security. The meeting took place at the Wapda Mega Hydel Projects Complex, where both delegations discussed strategies to fast-track work and resolve bottlenecks. CGGC International serves as the project’s main contractor. Highlighting the strategic significance of DHPP, the Wapda chairman urged CGGC to deploy additional…

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LAHORE: Two leading Chinese firms — Shenzhen Sea Energy Power Holding Company and Zhihyuzun Group — have advanced major investment proposals in Punjab following a meeting with Provincial Minister for Industries, Commerce, Investment and Skill Development (ICI&SD) Chaudhry Shafay Hussain, opening new avenues in textile manufacturing, auto-parts production and intercity transport. Shenzhen Sea Energy Power Holding Company formally sought approval to establish industrial units on 250 acres in the Quaid-e-Azam Business Park, Sheikhupura, making it one of the largest investment proposals submitted to the park this year. Zhihyuzun Group, meanwhile,…

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PESHAWAR: Khyber Pakhtunkhwa Chief Minister Muhammad Sohail Afridi on Saturday inaugurated the 40.8MW Koto hydropower project in Lower Dir, marking a major milestone in the province’s clean energy development. Built at a cost of Rs 21.7 billion, the project is expected to generate 207 million units of electricity annually and earn around Rs 2.4 billion in yearly revenue. The chief minister also opened the 18.5km Tormang–Razgram Road, completed at a cost of Rs 1.5 billion. Speaking at the ceremony, Afridi said the provincial government is pursuing a long-term strategy to…

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