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Business Recorder
11 hours ago
- Business
- Business Recorder
Dasu hydropower project to start generating power by 2027: Asghar
LAHORE: Chairman WAPDA Naveed Asghar Chaudhry visited Dasu Hydropower Project Tuesday to review construction work on key sites, including the main dam, powerhouse, transformer cavern and the relocated section of the Karakoram Highway (KKH-1). The GM/PD Dasu Hydropower Project and representatives of the Consultants and the Contractors were also present on the occasion. The Chairman also presided over a progress review meeting at the project office. The project management team briefed him about the targets and the achievements on the project. He was briefed that construction work is currently underway on 20 different sites and is progressing at a steady yet satisfactory pace. Referring to the targets achieved so far and the milestones to be achieved in the days to come, it was briefed that the excavation works on both the right and left abutments of the main dam have been completed. The extended right bypass tunnel and the right-side open channel have also been completed and are ready to divert excess river flow during the high-flow season. Excavation of the main dam foundation is continuing and is scheduled for completion by October this year. Placement of Roller Compacted Concrete (RCC) in the main dam is expected to begin in March 2026. The excavation of the underground powerhouse is expected to be completed by February 2026, while the 25-kilometer-long relocated KKH-1-comprising seven tunnels and three bridges - is scheduled for completion by March 2026. Power generation from the project is expected to commence in 2027. Highlighting the strategic importance of Dasu Hydropower Project for Pakistan's energy needs and economic stability, the Chairman urged the Consultants and the Contractors to excel their efforts to meet the project timelines. Emphasizing upon the significance of maintaining the highest construction standards, the Chairman directed the Contractors to adhere to the stipulated quality standards for completion of the project. The 4,320 MW Dasu Hydropower Project is being constructed on the River Indus in Upper Kohistan District of Khyber Pakhtunkhwa with the financial assistance of the World Bank. The project is planned to be completed in two stages. Currently, WAPDA is executing Stage I, which will have an installed capacity of 2,160 MW and generate 12 billion units of clean, green, and affordable electricity annually. Copyright Business Recorder, 2025
Business Recorder
08-05-2025
- Business
- Business Recorder
Volatility at bourse, KSE-100 sheds nearly 2,000 points
After an initial optimism, selling pressure returned to the Pakistan Stock Exchange (PSX) amid rising geopolitical tensions, with the benchmark KSE-100 Index losing nearly 2,000 points during intra-day trading on Thursday. At 12:05pm, the benchmark index was hovering at 108,087.79, a decrease of 1,921.23 points or 1.75%. Across-the-board selling was observed in key sectors including automobile assemblers, cement, commercial banks, fertilizer, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks, including HUBCO, ARL, MARI, OGDC, POL, PSO, SSGC, NBP, and UBL, traded in red. The decline comes amid an escalation of tensions between India and Pakistan. The heaviest fighting in more than two decades has erupted between the two neighbours, with shelling and gunfire over the frontier in Kashmir and India striking targets inside Pakistan. At least 31 Pakistanis were martyred and dozens were injured in Indian missile attacks inside Pakistan, DG ISPR said on Wednesday. The ISPR spokesperson said Indian missiles were launched at sites including Bahawalpur, Kotli and Muzaffarabad cities, while it also attacked the Neelum-Jhelum Hydropower Project. In retaliation, the Pakistan military brought down five Indian Air Force jets, including three Rafale, one MiG-21, and one SU-30, following Indian missile attacks. On Wednesday, the PSX's benchmark KSE-100 Index recovered a portion of its losses, but still settled with a loss of over 3,500 points at 110,009.02. Internationally, shares in Asia firmed on Thursday after US President Donald Trump flagged a first trade deal in his global tariff war, while the dollar tried to hold overnight gains as markets pushed out the chance of near-term rate cuts. S&P 500 futures erased earlier losses to be up 0.5% while Nasdaq futures rose 0.7%. The pan-European STOXX 600 index climbed 0.7% and FTSE futures gained 0.5%. Trump said late on Wednesday that he would announce details about a major trade deal with an unspecified country at a press conference later in the day. The New York Times reported that the deal was with Britain. The president's comments came as investors anxiously await planned trade talks between Washington and Beijing on Saturday, which could mark the first step in resolving a potentially damaging trade war between the world's top two economies. Markets are also keeping their eyes peeled on the Bank of England's policy meeting later in the day where expectations are for a quarter-point rate cut. Additionally, central banks in Sweden and Norway are due to deliver their latest policy decisions, although no moves are expected. Overnight, in a widely expected decision, the Federal Reserve left policy rate in the 4.25%-4.5% range, but said the risks of higher inflation and unemployment had risen. Chair Jerome Powell said it isn't clear if the economy will continue its steady pace of growth, or wilt under mounting uncertainty and a possible coming spike in inflation. This is an intra-day update
