The recent escalation of attacks on commercial ships in the Red Sea by Yemen’s Houthi rebels has triggered global concerns, particularly regarding fuel prices. With major shipping routes under threat, oil transportation has been disrupted, leading to fears of a surge in petrol prices. Impact on Global Oil Supply The Red Sea is a crucial transit point for oil shipments…
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Market faces downward pressure amid IMF concerns The Pakistan Stock Exchange (PSX) faced selling pressure on Monday as the benchmark KSE-100 Index lost over 2,000 points, with analysts attributing the downturn to concerns related to the International Monetary Fund (IMF) loan. The market remained under pressure throughout the trading session, dragging the KSE-100 to an intra-day low of 116,257.51. At…
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Oil prices strengthened in choppy trade on Monday as investors weighed the impact of fresh U.S. sanctions on Iranian exports against talks to end the war in Ukraine, which could increase supply of Russian crude to global markets. Brent crude futures rose 32 cents, or 0.44%, to $72.48 a barrel by 1252 GMT. U.S. West Texas Intermediate crude was up…
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Tariq Corporation Limited (TCORP), engaged in the manufacturing of sugar and its by-products, has become the latest company to adopt renewable energy, as it announced plans to set up a 200KW solar power system at its facility. The listed company shared the development in its notice to the Pakistan Stock Exchange (PSX) on Monday. “We are pleased to inform you…
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ISLAMABAD: The Private Power and Infrastructure Board (PPIB) has urged Chief Secretary Sindh to intervene in the delayed issuance of bank challans required for the second-term land lease rental payment of UEP Wind Power Private Limited (UEPL). In a letter to the Chief Secretary, PPIB Managing Director Shah Jahan Mirza referenced UEPL’s February 27, 2025, request, highlighting prolonged delays despite…
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ISLAMABAD: K-Electric (KE) has pointed towards the Power Division’s inaction as a key factor behind potential delays in the *conversion of the Jamshoro Power Plant to Thar coal, despite KE having a consultant onboard for the *Bankable Feasibility Study (BFS). While KE has completed its part by hiring a consultant *selected by the Power Division’s committee, the *lack of an…
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ISLAMABAD: The International Monetary Fund (IMF) has blocked the government’s proposed reduction in electricity tariffs, delaying the staff-level agreement (SLA) on the first biannual review of the $7 billion Extended Fund Facility (EFF). Media reports suggested that Prime Minister Shehbaz Sharif was expected to announce an Rs8 per unit reduction in electricity rates during his March 23 address to the…
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Karachi: The federal government had no choice but to revise Pakistan’s Net-Metering regime, as an unchecked surge in on-grid rooftop solar power installations could have severely impacted the national grid. This was the consensus among energy experts at a webinar titled “Net-Metering Debate: Facts vs. Claims”, organized by Energy Update in collaboration with the Pakistan Solar Association (PSA) and the…
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