Business

Nepra slaps Rs10m fine on National Grid Company

Published

24 hours ago

February 7, 2026

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Friday imposed a fine of Rs10 million on the National Grid Company (NGC), formerly known as the National Transmission and Despatch Company (NTDC), for its continued failure to provide critical data regarding the Integrated System Plan (ISP) 2024-34, despite clear regulatory orders over the past year.

In its detailed order, Nepra stated it was “of the considered opinion” that NGC had failed to meet its regulatory obligations. The company, it added, had not responded adequately to a show-cause notice issued by the regulator. As a result, Nepra decided to impose the Rs10m fine following legal proceedings.

The order also pointed out that NGC had not only ignored the regulatory instructions but had claimed it was not provided with a specific deadline to submit the relevant data. This issue had arisen during public hearings and consultations on the 10-year generation and transmission expansion plan held in August 2024. Nepra highlighted that the base case of the Indicative Generation Capacity Expansion Plan (IGCEP 2024) featured a low system load factor of just 60 per cent, and directed NGC to revise the plan by raising the load factor to 70pc. Despite repeated reminders and follow-ups, NGC failed to submit the requested addendum.

In response, Nepra initiated legal proceedings against NGC in December 2024, demanding an explanation for its failure to comply. The company claimed that the proposed addendum to IGCEP 2024 was under review by several forums, including the Power Division of the Ministry of Energy, the Special Investment Facilitation Council (SIFC), and the Prime Minister’s office. NGC also cited significant revisions to project costs and load forecasts as reasons for delays.

Regulator imposes fine for failing to provide key data for ISP

However, Nepra argued that NGC had not communicated these issues effectively or responded to the regulator’s queries, disregarding the integrity of the regulatory process. The authority stressed that a timeline for submission had been clearly outlined in the relevant documents, which NGC had failed to follow, thus undermining the entire planning cycle.Despite NGC’s assertions that no specific timeline was provided, Nepra found this claim to be inconsistent with the facts, as evidenced by multiple communications with the company. NGC representatives did admit that the delays were their fault but insisted they had not intentionally disregarded Nepra’s directions.

However, Nepra concluded that the delays were a wilful default and imposed the fine as a corrective measure.

Published in Dawn, February 7th, 2026

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Business

SECP gets 5th commissioner

Published

26 minutes ago

February 8, 2026

hussainbinnoman3@gmail.com

ISLAMABAD: The government has appointed Imtiaz Haider as the fifth commissioner of the Securities and Exchange Commission of Pakistan (SECP), completing the regulator’s minimum strength.

Mr Haider previously served as SECP commissioner from 2011 to 2014 and was managing director and CEO of Islamabad Stock Exchange.

The appointment will enable the SECP to establish appellate benches.

Published in Dawn, February 8th, 2026

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Business

Services export surges to $4.76bn

Published

1 hour ago

February 8, 2026

hussainbinnoman3@gmail.com

ISLAMABAD: Pakistan’s services exports rose 16.51 per cent in the first half of (July to December) 2025-26 compared with the same period last year, largely on the back of higher proceeds from the information technology sector.

The performance stands in contrast to commodity exports, which have shown uneven movement, as the services sector has posted uninterrupted growth since the beginning of the current fiscal year.

The export of services reached $4.764 billion in 1HFY26, up from $4.089bn over the corresponding period last year, according to data compiled by the Pakistan Bureau of Statistics.

The monthly trends showed that services exports rose by 18.27pc year-on-year in July, followed by increases of 8.41pc in August, 14.85pc in September, 17.61pc in October, 22.26pc in November, and 15.94pc in December. The growth in the export of services is mainly led by telecommunications, computer, and information services.

IT sector drives 16.51pc rise in July-Dec FY26

In rupee terms, exports improved by 18.04pc to Rs1.342tr in 1HFY26, up from Rs1.137tr in FY25. This clearly indicates that export of services is steadily on the rise in the current fiscal year. In December, exports of services reached $935.16m, up from $806.61m in the corresponding month of last year, indicating a growth of 15.94pc. On a month-on-month basis, exports of services grew by 15.84pc.

In FY25, Pakistan’s export of services recorded a growth of 9.23 per cent to $8.39 billion from $7.68bn over the corresponding months of last year. Services exports have grown since February 2024, mainly due to a surge in information technology and other business exports. However, there was a 6.50pc decline in August 2024.

According to data compiled by the State Bank of Pakistan, exports of Telecommunications, Computer, and Information Services reached $2.236 billion in July-December FY26, up from $1.866bn in the corresponding months of last year, indicating a growth of 19.82pc.

The export of other business services recorded growth of 24.87pc to $1.014bn in 1HFY26, compared with $812m over the corresponding months of last year. The export of transport services increased by 0.44pc to $462m in FY26 as against $460m over the last year.

However, the export of travel services grew 19.49pc to $429m during 1HFY26, compared with $359m over the last year. At the same time, the import of services surged by 15.75pc to $6.504bn in 6MFY26 as against $5.619bn over the corresponding months of last year. On a month-on-month basis, the import of services increased by 34.39pc.

Published in Dawn, February 8th, 2026

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