Engro Energy Limited (EEL), the parent company of Engro Powergen Qadirpur Limited (EPQL), has officially denied any breach of contract and terminated the share purchase agreement (SPA) for EPQL following the acquirer’s withdrawal. In a notice to the Pakistan Stock Exchange (PSX), EEL addressed the termination of the SPA signed with Liberty Power Holdings Limited and its consortium—Liberty Mills Limited,…
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ISLAMABAD: Power Division spokesperson Zafaryab Khan on Sunday reaffirmed that the electricity relief package announced by Prime Minister Shehbaz Sharif is fully in effect, dismissing circulating reports denying its implementation as “false and misleading.” Speaking to a private news channel, Khan stated that claims of no change in electricity tariffs were baseless and aimed at creating public confusion. “Certain elements…
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ISLAMABAD: The federal government has pledged complete financial support for Phase-II of the Reko Diq project, reaffirming its commitment under the existing agreement with the Balochistan government. During a recent visit to Quetta, Petroleum Minister Ali Pervaiz Malik—part of a delegation led by Finance Minister Senator Muhammad Aurangzeb—assured the Balochistan leadership of the Centre’s cooperation. The Economic Coordination Committee (ECC)…
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GWADAR: Electricity supply to the Makran division — encompassing Gwadar, Turbat, and Panjgur — was fully restored on Sunday after a 24-hour outage caused by a disruption in power transmission from Iran. The blackout occurred following the suspension of supply through two 132kV transmission lines that connect Iran to Pakistan’s coastal region. The affected areas included key grid stations at…
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KARACHI: Pakistan Petroleum Limited (PPL) is preparing to launch a full-scale operation to extinguish a persistent underground fire that erupted last month during borehole drilling in Korangi Creek near an oil refinery. The move follows the release of a detailed chemical analysis, which revealed dangerously high concentrations of gases and minerals in the soil and groundwater. According to Korangi Deputy…
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ISLAMABAD: The Pakistan Minerals Investment Forum 2025 is set to open on Tuesday, April 8, at the Jinnah Convention Centre, Islamabad, marking a major step toward positioning Pakistan as a global hub for metals and minerals exploration. The two-day event aims to forge strategic partnerships between government entities, global investors, and industry leaders to unlock the country’s vast mineral potential.…
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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has raised serious concerns over a financial burden exceeding Rs1.5 per unit on electricity consumers, stemming from inefficient operations of key generation and transmission projects during the first eight months of the current fiscal year (July–February). In a special report to the federal government, Nepra’s Technical Member from Sindh, Rafique A. Shaikh,…
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KARACHI: A consortium led by Liberty Power Holding has officially withdrawn its intention to acquire a 63.89% stake in Engro Powergen Qadirpur Limited, citing commercial considerations. In a notice filed with the Securities and Exchange Commission of Pakistan (SECP) and the Pakistan Stock Exchange (PSX) on Thursday, Arif Habib Limited confirmed the termination in accordance with Regulation 21 of the…
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ISLAMABAD: Consumers are set to receive immediate power tariff relief of Rs5.03 per unit within the coming days, confirmed National Electric Power Regulatory Authority (NEPRA) Chairman Waseem Mukhtar during a public hearing on Friday. The hearing, held to deliberate on the government’s proposal to reduce tariff by Rs1.71 per unit through an additional petroleum levy of Rs58.6 billion for three…
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ISLAMABAD: Electricity consumers across Pakistan, including those in Karachi, will benefit from reduced power tariffs of up to 17%, funded primarily through an increased petroleum development levy (PDL) of Rs58 billion, placing the burden on oil consumers. At a public hearing on Friday, the National Electric Power Regulatory Authority (Nepra) reviewed a government proposal to reduce power tariffs by Rs1.71…
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