ISLAMABAD: Muhammad Ali, Special Assistant to Prime Minister (SAPM) on Power, has announced significant progress in renegotiating agreements with Independent Power Producers (IPPs) to address longstanding inefficiencies in Pakistan’s power sector. Speaking on Geo News’ special talk show “Aakhri Mauqa: Pakistan Kay Liye Kar Dalo”, Ali disclosed that 15 out of 18 IPPs established under the 1994 and 2002 power…
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KARACHI: The price of liquefied petroleum gas (LPG) in Karachi has risen by Rs10 per kilogram, bringing it to Rs290 per kg, adding to the burden on consumers. This price is Rs36 higher than the official rate of Rs254 per kg set by the Oil and Gas Regulatory Authority (OGRA). Shopkeepers attribute the hike to increased rates by marketing companies,…
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ISLAMABAD: The government has announced a reduction in the price of high-speed diesel (HSD) by Rs3.05 per litre while keeping petrol prices unchanged for the fortnight ending December 31, 2024. This decision aligns with fluctuations in international oil prices over the past two weeks, as calculated by the Oil and Gas Regulatory Authority (Ogra). The ex-depot price of HSD now…
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Mari Petroleum has overtaken Oil & Gas Development Company (OGDC) to become the largest company on the Pakistan Stock Exchange (PSX) by market capitalization. Mari’s market value surged to Rs984 billion ($3.5 billion), driven by a 7% year-on-year increase in hydrocarbon sales. The company’s share in the gas market rose to 29%, with a profit-after-tax of Rs77.28 billion in FY24,…
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Prime Minister Shehbaz Sharif has ordered a further reduction in electricity prices, emphasizing the need to prioritize low-cost power projects to provide relief to consumers. The premier’s directive comes as part of the government’s efforts to mitigate the impact of high electricity prices on consumers and industries. According to sources, the prime minister has instructed the relevant authorities to explore…
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The Lahore Chamber of Commerce and Industry (LCCI) has appealed to the government to eliminate fixed charges and taxes on electricity bills, citing the immense burden on industries and businesses. In a statement, LCCI President Kashif Anwar emphasized that the fixed charges and taxes on electricity bills are a significant obstacle to the growth of industries and businesses in Pakistan.…
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Government Seeks Consensus Amidst PPP Protest ISLAMABAD: The government is actively pursuing a uniform gas pricing mechanism across Pakistan, sparking protests from the Pakistan Peoples Party (PPP). According to sources, the proposed pricing structure aims to deregulate the petroleum sector, eliminating disparities between local and imported gas prices. This move is expected to have significant implications for the energy sector.…
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ISLAMABAD, December 13, 2024: Oil and Gas Development Company Limited (OGDCL), Pakistan’s leading exploration and production company, on Friday announced a significant gas and condensate discovery in the Samanasuk Formation, an exploratory zone, at the Bettani-02 (Slant) well located in the Laki Marwat district of Khyber Pakhtunkhwa. OGDCL is the operator of the Wali Exploration License with a 100% working…
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ISLAMABAD – The National Institute of Maritime Affairs (NIMA) hosted a Roundtable Conference titled US-China Maritime Competition in the Indian Ocean Region Under the Trump Administration and Options for Pakistan, aimed at providing policy recommendations to key stakeholders. Senator Mushahid Hussain Sayed graced event as Chief Guest, with Vice Admiral Khan Hasham bin Siddique delivering the keynote address. Dr. Baber…
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ISLAMABAD: The price of 24 karat per tola gold increased further by Rs.2,300 and was sold at Rs 282,800 on Thursday against its sale at Rs 280,500 on previous trading day, All Sindh Sarafa Jewellers Association reported. The price of 10 grams of 24 karat gold also increased by Rs.1,971 to Rs.242,455 from Rs 240,484 whereas that of 10 gram…
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