ISLAMABAD: Two Chinese nationals who were killed in an explosion near Pakistan’s Karachi international airport on Sunday worked for a power plant, Pakistan’s finance minister said on Tuesday.
It was the most serious attack against Chinese nationals in Pakistan since a suicide bomber killed five Chinese engineers working on a hydropower project in March, which prompted Beijing to call on Islamabad to implement more stringent security measures.
The Chinese embassy in Islamabad and Pakistan’s foreign ministry have described Sunday’s blast as a “terrorist attack.”
In a statement emailed to journalists, separatist militant group Baloch Liberation Army (BLA) claimed the explosion was a suicide attack carried out by them, using a vehicle-borne bomb.
Pakistani media has reported that nearly a dozen people were injured in the blast.
A top security official in Islamabad told Reuters on condition of anonymity that the latest attack was a security failure and that all senior staff responsible for Chinese security in Karachi had been removed from service.
Pakistan’s interior ministry is primarily responsible for the Chinese nationals’ security.
There has been little information released about the identities of the Chinese nationals who were killed in a highly secured area of the southern port city.
“They were engineers who belong to those IPPs (Independent Power Producers) with whom we were negotiating tariff revision,” Finance Minister Muhammad Aurangzeb said in a video statement broadcast by local TV news channels.
Pakistan has been renegotiating contracts with independent power producers to rein in electricity tariffs as households and businesses buckle under soaring energy costs.
The Chinese embassy said a convoy from the Port Qasim Electric Power Company was attacked near the airport.
The BLA is one of many separatist militant groups, which seeks independence for the province of Balochistan, located in Pakistan’s southwest and bordering Afghanistan and Iran.
In August, it launched coordinated attacks in the province, in which more than 70 people were killed.
BLA specifically targets Chinese interests — in particular the strategic port of Gwadar on the Arabian Sea, accusing Beijing of helping Islamabad exploit local resources. It has previously killed Chinese citizens working in the region and attacked Beijing’s consulate in Karachi.
The port is part of Beijing’s $65 billion investment in Pakistan’s road and infrastructure building called the China-Pakistan Economic Corridor (CPEC) under President Xi’s Belt and Road initiative.
Chinese engineers killed in Pakistan worked for a power plant, says minister
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Chinese engineers killed in Pakistan worked for a power plant, says minister
- Pakistan has been renegotiating contracts with independent power producers to rein in electricity tariffs
- A top security official in Islamabad said the latest attack in southern city of Karachi was a security failure
Pakistan regulator says over 21,600 new companies registered in first half of FY26
- This reflects a 29 percent increase compared to the 16,839 companies that were registered during same period last year, says regulator
- These incorporations contributed $109.5 billion in paid-up capital, says Securities and Exchange Commission of Pakistan report
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) said this week it registered over 21,600 new companies in the first half of the current fiscal year, reflecting rising investor confidence and positive economic outlook in the country.
In a report issued on Jan. 6, the SECP said it registered 21,668 companies in the first six months of the current fiscal year, adding that these incorporations contributed Rs30.7 billion [$109.5 million] in paid-up capital.
The report said this represented a 29 percent increase compared to the 16,839 companies registered during the same period last year.
“Pakistan’s business landscape continues to demonstrate strong momentum, reflecting rising investor confidence and a positive economic outlook,” the SECP report said.
The SECP said the latest increase has brought the total number of registered companies in Pakistan to 279,724. It said the top ten sectors by incorporations were led by the IT & e-commerce, with 4,277 companies, followed by trading (2,997 companies), services (2,686 companies) and real estate (2,031 companies).
“This sectoral diversity highlights expanding entrepreneurial activity, particularly in technology-driven and service-oriented industries,” the report said.
The SECP said foreign investment also remained “robust” during the period, adding that 524 newly incorporated companies received foreign investment amounting to Rs1.26 billion [$4.5 million] with the participation from 731 foreign investors.
“China emerged as the leading source, accounting for 71 percent of total inflows,” the SECP said. “It was followed by Afghanistan (8 percent), the United States (2 percent), and the United Kingdom, Germany, South
Africa, South Korea, Norway, Vietnam, Nigeria, and Bangladesh, each contributing 1 percent,” it added.
The SECP said an additional 11 percent of the investment originated from other countries.
