Author name: Web Desk

KARACHI – The Pakistani government is pressing ahead with its ambitious plan to privatize Pakistan International Airlines (PIA) before the end of the year, according to Muhammad Ali, Chairman of the Privatisation Commission. In an interview on a private TV, Ali confirmed the government’s resolve to conclude the sale but made a crucial clarification: no governmental guarantees will be extended to prospective buyers. While the International Monetary Fund (IMF) has approved the withdrawal of sales tax on the transaction, other forms of investor assurances are being withheld. Ali emphasized that running airlines is not the mandate of administrations and noted, “Governments change.” Addressing concerns about the sluggish pace of privatization, the Chairman explained the strategy of starting with smaller, less complex deals, such as the partial transfer of First Women Bank, before moving on to larger divestments like PIA. Looking ahead, Ali confirmed that the government plans to outsource major infrastructure, with Karachi and Lahore airports each requiring an estimated $1 billion in capital for expansion, which private operators are expected to mobilize. For the struggling gas sector, he stated that structural reforms are essential, adding, “For the sector to move forward, the Sui gas companies will have to be sold.” The Commission is thus targeting key sales across energy and aviation in the coming year.

KARACHI – Global trading firm Vitol and Pakistan’s largest oil refiner, Cnergyico, have successfully delivered the country’s biggest single shipment of Very Low Sulphur Fuel Oil (VLSFO) for ship refuelling. This milestone delivery signals a major step forward for Pakistan’s maritime capabilities and environmental compliance in the global shipping industry. The 6,800 metric ton shipment of IMO-compliant VLSFO was produced by Cnergyico from its first large-scale batch, which was refined using the company’s inaugural cargoes of U.S. crude oil imported in August and September. Vitol delivered the fuel to a vessel operated by shipping major MSC at Port Qasim, utilizing the Singapore-flagged bunker barge Marine Ista. Importantly, this operation marked the first time a bunker barge loaded fuel directly from the Karachi Port Trust’s Oil Pier, circumventing the less efficient method of truck deliveries. “This latest initiative enhances Pakistan’s capacity to serve the global shipping industry with sustainable fuel solutions,” said Aumar Abbassciy, Director at Cnergyico Pk Limited. The local supply of VLSFO will now allow large vessels refuelling in Pakistan to sail longer east-to-west routes without necessitating stops elsewhere. Vitol has confirmed that new bunkering locations will include Karachi Port, Port Qasim, and Karachi Anchorage, with Cnergyico committed to continuous VLSFO supply.

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has imposed a hefty collective fine of Rupees Fifty-seven Million Five Hundred Thousand (Rs. 57,500,000) on three major Electric Supply Companies (DISCOs) for their failure to prevent multiple fatal accidents during the Fiscal Year 2023-2024. In orders issued on November 17, 2025, under Section 27B of the NEPRA Act, the authority held Lahore Electric Supply Company (LESCO), Gujranwala Electric Power Company (GEPCO), and Faisalabad Electric Supply Company (FESCO) responsible for a total of twenty-one fatal accidents. These incidents tragically resulted in the loss of lives of employees, contractors, and members of the public. LESCO received the largest fine, a penalty of Rs. 30,000,000, after being held responsible for all twelve fatal accidents reported in its service territory. GEPCO was fined Rs. 17,500,000 for its responsibility in seven accidents, and FESCO was ordered to pay Rs. 10,000,000 for two fatal accidents. The investigations consistently pointed to severe deficiencies in safety governance and operational oversight. Common root causes across the companies included a “Failure to obtain Permit to Work (PTW),” “Failure to use Personal Protective Equipment (PPE),” “Lack of Planning,” and “Inadequate/Lack of Supervision”. NEPRA criticized LESCO’s defense, calling the attempt to blame “individual actions alone… a blatant abdication of its legal and managerial responsibilities”.

KARACHI: Pakistan’s external sector has come under fresh pressure as the trade deficit in goods and services surged 17% to $11.26 billion during the first four months (July-October) of FY26, reversing the gains achieved last fiscal year, according to State Bank of Pakistan (SBP) data released on Monday.The widening gap is primarily driven by a 9.6% jump in goods imports to $20.72bn and a paltry 2% increase in goods exports to $10.63bn. Services exports offered some cushion, rising to $3.03bn (up from $2.62bn), largely on the back of IT exports that climbed to $1.44bn. However, services imports also rose to $4.20bn, limiting the net benefit.October proved particularly challenging: the current account posted a $733m deficit — the highest monthly shortfall in FY26 — against just $206m in October FY25. Goods imports in the month alone touched $5.27bn, while exports slipped to $2.75bn from $3bn a year earlier.Remittances continued to act as the economy’s lifeline, growing 9.3% to $12.96bn, but failed to fully offset the deteriorating trade balance. The primary income deficit — reflecting profit repatriation and debt servicing — remained stubbornly high at $3.09bn.Although foreign direct investment fell to $748m from $1.01bn and portfolio outflows hit $537m in October, the SBP managed to lift gross reserves to $14.64bn by end-October. Analysts warn that scheduled debt repayments and sustained import momentum could quickly erode this buffer if export competitiveness is not urgently addressed.

KARACHI: PIA is expanding its Cargo Business and aims to provide efficient and competitive cargo services to its customers. A Cargo Interline Special agreement was signed between PIA and Biman Bangladesh airlines. The Cargo Agreement ill be effective from December 1, 2025. This agreement will augment trade and also streamline air cargo movement between Pakistan and Bangladesh. The partnership will also facilitate in minimizing logistical complexities in transporting commodities such as textiles, pharmaceuticals, and agricultural products. The airline will utilize key Saudi Arabian hubs that are Jeddah, Madinah, and Riyadh, as transit gateways, establishing a strategic corridor for regional trade.