KARACHI: Shanghai Electric Power Co. has abandoned its $1.77 billion bid to acquire a controlling stake in K-Electric Ltd., Pakistan’s sole listed power utility, citing a deteriorating business environment and the seller’s failure to secure required approvals.
Economy
SBP says banks show resilience amid lending dip
KARACHI: The banking sector expanded assets and bolstered solvency in the first half of 2025 despite a contraction in lending, the State Bank of Pakistan (SBP) said in its Mid-Year Performance Review released on Wednesday.
Pakistan’s govt debt surges 13 percent to Rs77.9 trln in FY24 – central bank
KARACHI: The government debt surged 13% in the fiscal year ended June 30, reaching Rs77.888 trillion, as the nation leaned heavily on domestic and external borrowing to plug a widening budget deficit and cover escalating interest costs, central bank data showed on Tuesday.
Pakistan, China to share trade data electronically to curb under-invoicing
ISLAMABAD: Pakistan and China have agreed to exchange trade documents and data electronically to curb rampant under-invoicing that’s plagued Pakistan’s economy, as the two nations seek to deepen ties in trade, defence and technology amid ongoing regional tensions.
Nepra orders Rs1.79/unit refund on September power bills after July overcharges
ISLAMABAD: The power regulator has mandated a refund of Rs1.7856 per unit for electricity consumers in September bills, citing overcharges in July, while sharply criticising systemic governance failures that continue to drive up costs and erode grid reliability.
Pakistan telecom regulator says SIM data leak not from licensed operators
ISLAMABAD: Pakistan’s telecommunications regulator said an audit found no security breaches in the licensed sector after media reports alleged that sensitive mobile SIM card data, including that of Interior Minister Mohsin Naqvi, was being sold online.
Pakistan, China to form lenders’ consortium for $7 bln ML-1 rail project
ISLAMABAD: Pakistan and China have agreed to establish a consortium of bilateral and multilateral lenders to finance the $7 billion Mainline-1 (ML-1) railway project and have outlined a four-year plan for the second phase of the China-Pakistan Economic Corridor (CPEC), focusing on agriculture, industry, and security cooperation, a minister said on Monday.
Pakistan plans captive gas levy to level field for public, private suppliers
By Staff Reporter ISLAMABAD: Pakistan plans to introduce a captive gas levy on power sector distribution to ensure fair competition between public and private gas
TCP gets lowest sugar offer at $545/T in 100,000T tender – traders
ISLAMABAD: The state-owned Trading Corporation of Pakistan (TCP) received a lowest offer of $545 per metric ton, cost and freight included (c&f), in an international tender to purchase 100,000 metric tons of white sugar that closed on Monday, European traders said in initial assessments.
FAA begins review of Pakistan aviation safety standards after five-year US ban
KARACHI: The US Federal Aviation Administration (FAA) began reviewing Pakistan’s aviation standards on Monday, a Pakistan Civil Aviation Authority (PCAA) spokesperson said, as Islamabad seeks to restore direct flights to the United States after a five-year ban.