ISLAMABAD: The price of 24 karat per tola gold decreased further by Rs 4,300 and was sold at Rs 278,400 on Monday November 25, 2024 against its sale at Rs 182,700, All Sindh Sarafa Jewellers Association reported. The price of 10 grams of 24 karat gold also went down by Rs.3,657 to Rs.238,683 from Rs. 242,370 whereas that of 10…
Read More
BAGHDAD: Iraq’s electricity ministry said on Sunday that Iranian gas supplies had been completely halted for 15 days due to maintenance, impacting Baghdad, the central provinces, and the Middle Euphrates, resulting in the loss of 5.5 gigawatts from its national grid.
Read More
Pakistan’s total hydropower potential is estimated at 59,796MW gross, with about 41,045MW considered both technically and economically viable. However, despite this significant potential, only a fraction has been developed, with the current hydropower generation capacity at 10,635MW connected to the national grid. This includes 9,389MW managed by Wapda in the public sector, and 1,246 MW developed by Independent Power Producers…
Read More
HOUSTON: Oil prices fell more $2 on Monday after multiple reports that Israel and Lebanon had agreed to the terms of a deal to end the Israel-Hezbollah conflict, citing unnamed senior U.S. officials. Brent crude futures were down $2.02, or 2.69%, at $73.15 a barrel by 9:57 a.m. CST (1557 GMT), while U.S. West Texas Intermediate crude futures were down…
Read More
KARACHI (Nov 25): Sindh Chief Minister Syed Murad Ali Shah has said that Marble City Karachi reflects the Sindh government’s commitment to sustainable industrial development, economic growth, and job creation, signalling a brighter future for the province’s marble and granite sector. This he said while presiding over a joint meeting of Sindh Investment Dept, its subsidiary organisation – Sindh Economic…
Read More
ISLAMABAD: Pakistan’s Exploration and Production (E&P) companies, including OGDCL, Mari Petroleum, PPL, and MOL, incurred losses exceeding Rs50 billion from 2021 to 2024 due to curtailed gas outflows by gas companies attempting to manage line pack pressure in the national transmission system. A senior Energy Ministry official highlighted that reducing gas outflows, particularly from wells nearing depletion, poses significant risks.…
Read More
ISLAMABAD: Prime Minister Shehbaz Sharif on Sunday endorsed the implementation framework approved by Deputy PM Ishaq Dar’s 20-member task force on November 18, which allows Exploration and Production (E&P) companies to auction and sell 35% of gas from future wells to the private sector. The Council of Common Interests (CCI) had given its nod to the amended E&P policy and…
Read More
LAHORE: The prices of solar panels and batteries have seen a significant reduction in Pakistan due to a notable decline in demand. Market sources report that the cost of lithium solar batteries has dropped by up to 20%, with a battery previously priced at PKR 450,000 now available for PKR 380,000. Similarly, batteries that were sold for PKR 300,000 to…
Read More
ISLAMABAD: The Petroleum Division is grappling with a deepening crisis as internal discord over gas allocation policies and other pressing issues escalates. A rift between Petroleum Minister Musadik Malik and senior officials has resulted in the resignation of Additional Secretary Petroleum Zafar Abbas, further complicating matters. The tensions arose following a decision by a high-level committee led by Deputy Prime…
Read More
ISLAMABAD: The 29th UN Climate Change Conference (COP29) in Baku, Azerbaijan, brought together 200 countries to address the critical issues of climate finance and adaptation challenges. Central to the discussions were the New Collective Quantified Goal (NCQG) and Article 6, both offering transformative potential for achieving global climate and development objectives. Building on the 2009 commitment of mobilizing $100 billion…
Read More
