Lahore, January 18, 2025: A high-level meeting with Liquefied Petroleum Gas (LPG) bowzers, storage tanks, and bullet manufacturers was convened today at the Regional Office of the Oil and Gas Regulatory Authority (OGRA) in Lahore. The meeting was chaired by Mr. Zain Ul Abideen, Member Oil, OGRA, and attended by senior directors and officers from the LPG and Enforcement departments.…
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Islamabad, January 18, 2025 – The longstanding monopoly of Sui gas companies in the purchase and sale of gas has officially ended as the Petroleum Division notified the implementation framework for third-party gas sales. This landmark move, endorsed by the Executive Committee of the National Economic Council (ECNEC), allows private companies to purchase up to 100 mmcfd of gas annually,…
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Islamabad, January 18, 2025 – Nuclear power emerged as Pakistan’s top electricity source in December 2024, contributing over 26% to the national grid at an exceptionally low cost of just over half a US cent per unit. This milestone highlights the growing role of nuclear energy in the country’s shift towards cleaner and more affordable power generation. In December, nuclear…
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Islamabad, January 18, 2025 – The World Bank will conduct an Implementation Support and Progress Review Mission for the Dasu Hydropower Project (DHP) Stage 1 from February 10 to March 5, 2025. The mission will evaluate the project’s progress and address implementation challenges. The 242-meter (794 ft) tall dam, designed to support a 4,320 MW hydropower station, is being constructed…
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Islamabad – The Economic Coordination Committee (ECC) of the Cabinet has approved a policy shift in electricity tariff rebasing, setting January 1 as the annual implementation date instead of July. The decision aims to mitigate public dissatisfaction caused by simultaneous tariff adjustments during peak summer months. The meeting, chaired by Finance Minister Senator Muhammad Aurangzeb, approved policy guidelines for the…
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Pakistan stands at a crossroads with the US as Donald Trump is all set to reenter the White House Choppy waters lie ahead. Pakistan was struggling to recalibrate its foreign policy in a transformed regional and global reality even before United States forces completed their withdrawal from Afghanistan on August 30, 2021. Now, with Donald Trump set to assume the…
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Islamabad – The government has issued a statutory order (SRO) permitting exploration and production (E&P) companies to sell up to 35% of newly discovered gas reserves to private entities. This marks a significant increase from the previous cap of 10%, with an annual ceiling of 100 mmcfd. The decision, facilitated by the Special Investment Facilitation Council (SIFC) and a committee…
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Islamabad – Public sector power companies have proposed a Rs1.04 per unit negative fuel cost adjustment (FCA) for electricity consumed in December 2024, potentially refunding Rs3.9 billion to consumers in February if approved by the National Electric Power Regulatory Authority (Nepra). The Central Power Purchasing Agency (CPPA) filed the petition, highlighting a 1.3% year-on-year increase in power demand and a…
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Islamabad – The Economic Coordination Committee (ECC) of the cabinet has endorsed a proposal to shift the annual electricity tariff re-basing timeline from July 1 to January 1, aiming to alleviate consumer burden during high-consumption summer months. The power division’s proposal seeks to stagger the cumulative impact of quarterly tariff adjustments (QTAs), fuel cost adjustments (FCAs), and annual tariff revisions…
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Riyadh, January 18, 2025 – Football superstar Cristiano Ronaldo is poised to become the highest-paid footballer in the world as he signs a new contract with Saudi Arabian club Al-Nassr. The official announcement is expected today, confirming a deal that will earn the 39-year-old icon a staggering 550,000 euros per day—equivalent to approximately 160 million Pakistani rupees. Reports indicate that…
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