ISLAMABAD: Prime Minister Shehbaz Sharif and Chinese Premier Li Qiang reaffirmed their commitment on Thursday to advancing the second phase of the China-Pakistan Economic Corridor, a multibillion-dollar infrastructure initiative central to their strategic partnership, during a meeting Sharif described as “warm and most productive.”
Energy
Wapda seeks 91 percent hike in hydel revenue to Rs364.9 billion for 2025-26
LAHORE: Pakistan’s state-owned Water and Power Development Authority (Wapda) has proposed a 91% increase in its total revenue requirement, including hydel levies, to Rs364.872 billion for the fiscal year 2025-26, up from Rs190.909 billion set by the National Electric Power Regulatory Authority (Nepra) for 2022-23, according to a tariff petition filed with the regulator.
KP chief minister Gandapur’s support for Kalabagh dam sparks controversy
ISLAMABAD: A renewed push by Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur to revive discussions on the long-dormant Kalabagh Dam project has ignited a firestorm of criticism from political leaders across Pakistan, exposing deep-seated regional divisions over a project that has been stalled for decades.
Inflation falls to 3 percent in August, beating forecasts
KARACHI: Consumer price inflation slowed to 3% in August 2025, dipping below government and analyst expectations and marking a significant retreat from the record highs seen two years ago, according to data released by the Pakistan Bureau of Statistics on Monday.
ECC approves Rs40bln plan to wind down loss-making Utility Stores Corp
The Economic Coordination Committee (ECC) of the cabinet on Thursday greenlit a roughly Rs40 billion plan to wind down the state-run Utility Stores Corporation (USC), a once-profitable retailer that has haemorrhaged funds for over a decade.
Pakistan faces flood risks as inflation holds at 4-5 percent, fiscal gains strengthen
ISLAMABAD: Pakistan’s economy, with August inflation projected at 4-5% and support from a narrowing fiscal deficit and strong revenue growth, faces rising risks from flood damage that could disrupt food supplies, strain fiscal resources and threaten agricultural growth targets, the Finance Division said in its monthly outlook on Thursday.
US firms eye Pakistan’s oil sector amid Trump’s ‘massive reserves’ claim, experts skeptical
ISLAMABAD: US companies are showing renewed interest in Pakistan’s struggling energy sector following President Donald Trump’s claim of “massive” oil reserves in the South Asian nation, but industry experts remain skeptical, citing decades of limited discoveries and persistent challenges, Bloomberg reported on Wednesday.
ECC approves gas surcharge relief, funds for flood-hit Gilgit-Baltistan
ISLAMABAD: The Economic Coordination Committee of the cabinet approved a bailout for the state broadcaster, a plan to recover overdue petroleum levies from a refinery and a mechanism to use gas surcharges to cut electricity tariffs for all consumers
Pakistan invites US firms to bid for oil, gas blocks in fresh investment push
ISLAMABAD: Pakistan is rolling out the red carpet for American energy companies, inviting them to bid on a fresh round of oil and gas exploration blocks as part of a broader push to deepen economic ties with the US under President Donald Trump’s second term.
Pakistan locks in 85,000 tons of sugar imports from Azerbaijan’s SOCAR to ease price surge
ISLAMABAD: Pakistan has secured Letters of Credit through Azerbaijan’s state-owned SOCAR for the import of 85,000 metric tons of sugar, a move designed to avert shortages and rein in retail prices that have soared past 200 rupees per kilogram.