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K-IV Water Project Hit by Massive Cost and 13-Year Delay

K-IV Water Project Hit by Massive Cost and 13-Year Delay

The Greater Karachi Bulk Water Supply Scheme (K-IV) has been hit by a 975% cost escalation, with its estimated cost rising to Rs172 billion. The project has also been delayed by more than 13 years, while planned capacity has been reduced from 650MGD to 260MGD. Contracts worth Rs98.5bn were awarded in June 2022, but costs have since increased by 75%. Completion, originally targeted for October 2023, is now expected by June next year, according to Wapda Chairman Gen Muhammad Saeed.

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Local Affairs

August Inflation Hits 11.15%, Rising From 9.2% in July

Pakistan’s annual consumer price inflation surged to 11.15% in August 2026, up from 9.2% in July, according to the Pakistan Bureau of Statistics. Urban inflation accelerated to 10.4%, while rural inflation remained above both the national and urban rates. On a month-on-month basis, urban prices increased by 0.9%, signaling stronger inflationary pressure across the country.

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PM Shehbaz Arrives in Bishkek

Prime Minister Shehbaz Sharif has arrived in Bishkek for the SCO Council of Heads of State meeting and SCO Plus Summit. During his three-day official visit to Kyrgyzstan, Pakistan will assume the chairmanship of the SCO Council of Heads of State for 2026–2027. The prime minister will also hold bilateral meetings with participating leaders and is accompanied by senior cabinet members and government officials.

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Engro to Sell EPCL Stake for Rs19.7bn

Engro Corporation Limited has signed a share purchase agreement with Lotte Chemical Pakistan Limited to sell its entire 56.19% stake in Engro Polymer & Chemicals Limited. The transaction is valued at approximately Rs19.7 billion, equivalent to around $70.95 million. The agreement follows Engro’s 2025 restructuring, which established Engro Holdings as the conglomerate’s investment arm.

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