ISLAMABAD: Pakistan’s power regulator cleared the way on Friday for the government to compel battery storage capacity from developers competing in the country’s first competitive renewable energy auction in more than three decades, a bid to shore up a grid increasingly strained by the swings in demand that accompany rooftop solar adoption.
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Pakistan eyes rupee-dollar bond, Eurobond tokenization in funding push
ISLAMABAD: Islamabad is preparing to launch a rupee-denominated, dollar-settled bond and is exploring the tokenization of part of its Eurobond debt, Finance Minister Muhammad Aurangzeb said on Friday, adding a technological dimension to Pakistan’s push to diversify its funding sources beyond traditional international debt markets.
OGDCL posts record $870 million profit as Iran war fuels oil windfall
ISLAMABAD: Oil and Gas Development Co., Pakistan’s largest listed company, reported record annual profit after a spike in global crude prices tied to the US and Israeli strikes on Iran overwhelmed a sluggish first nine months of the fiscal year.
SBP rejects reports Raast was named as money-laundering channel in FATF report
KARACHI: Pakistan’s central bank disputed reports circulating on social media on Friday that a global financial-crimes watchdog had identified the country’s instant payment system as a conduit for money laundering, saying the claims distorted the findings of a report examining underground banking networks worldwide.
Pakistan cuts petrol, lifts diesel as daily price reviews grind on
ISLAMABAD: The government cut the retail price of petrol while raising diesel for the second consecutive day, a divergence that has become routine since Islamabad scrapped weekly fuel pricing in favour of daily reviews two months ago.
Power consumers face fresh Rs2.58 surcharge in September bills
ISLAMABAD: Pakistan’s power regulator signed off on two separate increases to electricity charges that will show up in consumers’ bills over the coming months, adding fresh strain to household budgets already stretched by elevated energy costs.
In Pakistan, a fight over provinces map splits ruling coalition
ISLAMABAD: A long-dormant argument over how Pakistan should be governed has burst back into public view this week, pitting the country’s two largest ruling parties against each other and drawing in a president, a prime minister, and at least three federal ministers.
Pakistan says 48 militants killed in Balochistan crackdown as violence surges
ISLAMABAD: Security forces had killed 48 militants over the previous three days in a series of raids across Balochistan province, the latest and largest tally in a counterterrorism campaign that has intensified as the country’s southwest sinks deeper into violence.
ISI’s No. 2 officer takes reins of sidelined counterterrorism Nacta
ISLAMABAD: The government on Friday abruptly moved one of the Inter-Services Intelligence agency’s most senior officers, Major General Faisal Naseer, out of his post overseeing the spy service’s internal wing and into the top civilian job at the National Counter-Terrorism Authority, a body that has spent more than a decade struggling to fulfill the mandate lawmakers gave it after some of the country’s darkest days of militant violence.
Pakistan raises fuel prices for third straight day as Mideast tensions flare
ISLAMABAD: Pakistan raised gasoline and diesel prices for a third consecutive day on Thursday, as renewed fighting between the US and Iran near the Strait of Hormuz pushes global crude benchmarks higher and tests a two-month-old daily pricing system meant to shield the state from the fallout.