Oil Marketing Companies (OMCs) have announced a Rs10 per litre hike in the price of Hi-Octane Blending Component (HOBC) effective from April 1, 2024. Despite this increase, the Petroleum Levy (PL) on HOBC remains at Rs50 per litre, maintaining a lower levy compared to low-grade motor gasoline, which incurs a PL of Rs60 per litre. The international price of petrol…
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K-Electric (KE) has unveiled plans to incorporate 640 megawatts of renewable electricity into its grid over the next two years through solar and wind energy initiatives. This move, expected to attract investments of more than $400 million from 12 international firms based in Europe, China, and the Middle East, is poised to significantly reduce production costs, according to KE’s Chief…
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Taking place from 26 – 30 April 2026 in Riyadh, the theme for the 25th WPC Energy Congress will be ‘Pathways To An Energy Future For All’.Discussions over the four days will centre around how the global energy sector can transition to deliver a low carbon system which meets its social, environmental, and economic challenges.The Congress was awarded to the…
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KARACHI (April 5): Sindh’s Chief Minister, Syed Murad Ali Shah, has extended an invitation to investors from Gulf countries and Germany to consider investing in Sindh province.He believes that Sindh is a province rich in resources and well-connected to the world via sea routes, which makes it an ideal location for trade and commerce to thrive. The Chief Minister believes…
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Engro Energy Limited, a subsidiary of Engro Corporation Limited, has finalized a Share Purchase Agreement with Liberty Power Holding (Pvt.) Limited and a consortium for the sale of its thermal energy assets portfolio.The consortium comprises Liberty Mills Limited, Soorty Enterprises, and Procon Engineering through Master Group of Industries. The sale of these thermal assets aligns with Engro’s ongoing efforts to…
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ISLAMABAD: In a significant stride towards sustainable energy production, Northern Power Generation Company Limited (NPGCL) GENCO-III, Muzaffargarh, in collaboration with Ningbo Green Light Energy (NGLE) (Private) Limited, China, has formalised a memorandum of understanding (MoU) worth $200 million in foreign direct investment (FDI). Facilitated by the Special Investment Facilitation Council (SIFC), this MoU aims to convert an existing thermal power…
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ISLAMABAD: The federal cabinet has abolished the National Commission for Child Welfare and Development (NCCWD), the National Child Protection Centre (NCPC) and the implementation of the National Line of Action and decided to include employees of these departments in the surplus pool. While speaking to the participants of the meeting, Prime Minister Shehbaz Sharif also highlighted the importance of a…
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Pakistan has already inked deal for buying one LNG cargo per month ISLAMABAD: Azerbaijan has emphasised that Pakistan should resume imports of liquefied natural gas (LNG) from the Central Asian nation to meet its growing domestic consumption needs. Earlier, during the tenure of the Pakistan Democratic Movement (PDM) government, the two sides signed an agreement for import of at least…
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Draw govt’s attention towards forex burden, LC confirmation costs ISLAMABAD: Oil refineries have called on the government to make full recovery of the actual currency exchange losses and the confirmation cost of Letters of Credit (LCs). Pakistan’s oil refineries are currently grappling with substantial currency exchange losses in the import of crude oil, compounded by a significant financial burden from…
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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Thursday imposed a fine of Rs50 million each on five power distribution companies including K-Electric for carrying out commercial-based excessive loadshedding in violation of laws penalising honest consumers. It is for the first time the regulator has moved from issuing warnings against collective punishments in the power sector which started more…
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