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Year: 2025

FM reiterates govt’s unwavering commitment to resolving taxation, energy issues

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FM-Aurangzeb-On-Economic-Digitization-696x342-1.webp

ISLAMABAD: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, has reiterated the government’s unwavering commitment to resolving critical issues related to taxation, energy, and financing, as part of its efforts to ensure the long-term viability and future growth of Pakistan’s industrial sector. He made this statement during a meeting held today at the Finance Division with the leadership of…

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Pakistan’s industry paying double power costs of US, China, India: report

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power-sector

ISLAMABAD: Pakistan’s industrial sector is paying almost double the electricity prices compared to China, India and the United States, and even higher than the European Union, adversely impacting its export competitiveness. According to the latest ‘Electricity 2025 — Analysis & Forecast to 2027’ report by the Paris-based International Energy Agency (IEA), the average 2024 electricity rates in the United States and India…

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Centre hindered Sindh’s efforts towards sustainable energy: CM

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solar energy project

• Says federal govt doesn’t want to build additional power plants• Distributes solar panels in Karachi KARACHI: Recounting the hurdles faced by the Sindh government in promoting renewable energy and developing the Thar coal project, Chief Minister Syed Murad Ali Shah on Wednesday said that the federal government had continued to prioritise imported coal-based power plants and refused to grant…

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Pakistan industries pay almost twice the power costs of China, India, and US: report

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power tariff

Pakistan’s industrial sector is paying almost twice the electricity costs compared to China, India, and the United States, putting its export competitiveness at a disadvantage.  A report by the International Energy Agency (IEA) shows that power tariffs for energy-intensive industries in Pakistan averaged 13.5 cents per kilowatt-hour (kWh) in 2024, surpassing those in major economies and even exceeding rates in…

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Oil eases in choppy trading on U.S. tariffs, OPEC+ plans to raise output

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Oil prices

HOUSTON: Oil prices eased slightly in choppy trade on Thursday with Brent still below $70 under pressure from trade tariffs between the U.S., Canada, Mexico and China, and OPEC+ plans to raise output. Those factors and a larger than expected build in U.S. crude inventories had sent Brent as low as $68.33 on Wednesday, its weakest since December 2021. Brent…

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KP Governor, WAPDA Chairman Discuss Ongoing and Upcoming Water Projects

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Faisal-Kareem

Khyber Pakhtunkhwa Governor Faisal Karim Kundi met with WAPDA Chairman Lieutenant General (retd) Sajjad Ghani to discuss various ongoing and upcoming water projects in the province. The meeting also included Ahmad Karim Kundi, Parliamentary leader of Pakistan Peoples Party (PPP) in Khyber Pakhtunkhwa Assembly. The projects discussed during the meeting included: The WAPDA chairman assured the governor that all projects…

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Sindh empowers low-income households with solar energy, says CM Sindh

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Sindh-Solar

200,000 solar units being provided to low-income families 270 solar power plants being installed to provide Rs9.80/unit KARACHI Sindh Chief Minister Syed Murad Ali Shah has said that the Sindh government has begun distributing Solar Home Systems (SHS) to 200,000 low-income households, and chairman Bilawal Bhutto has instructed him to procure another 300,000 solar units for further distribution. This initiative…

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Oil down on OPEC+ output increase, tariffs start and US pause on Ukraine aid

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oil price

LONDON: Oil prices extended losses on Tuesday following reports that OPEC+ will proceed with a planned output increase in April and as U.S. tariffs on Canada, Mexico and China came into effect, as well as Beijing’s retaliatory tariffs. Brent futures were down $1.05, or 1.5%, at $70.57 a barrel by 1133 GMT while U.S. West Texas Intermediate (WTI) crude was…

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Saudi Aramco profits down 12.39 percent in 2024: statement

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Saudi Aramco profits

RIYADH: Saudi Aramco’s net profits dropped 12.39 percent to $106.25 billion in 2024, the world’s biggest oil exporter said on Tuesday, following a year of lower prices and output cuts. Profits fell on lower revenues “primarily attributable to lower prices and volumes sold of crude oil, as well as lower refined and chemical product prices”, it said. Expected dividends for…

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