ISLAMABAD: Minister for Petroleum, Dr. Musadik Masood Malik, has accused the private sector of reaping substantial profits from the import of discounted Russian oil without passing the benefits to the general public. This claim was made during a recent meeting led by Minister for Planning, Development, and Special Initiatives, Ahsan Iqbal, to finalize the agenda for an upcoming high-level meeting…
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ISLAMABAD: Prime Minister Shehbaz Sharif announced that from August 14, 2024, Chinese citizens will be granted visa-free entry to Pakistan. He highlighted the mutual benefits of relocating Chinese industries to Pakistan through joint projects during a meeting with a high-level 12-member Chinese delegation led by Minister Wang Fukang. Prime Minister Sharif emphasized the significance of joint projects for both nations,…
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ISLAMABAD: Pakistan, being a net importer of crude oil and refined products, lacks sufficient feedstock to fully utilize its refining capacity, necessitating the import of crude oil, according to industry experts. This response comes amidst news that Pakistan State Oil (PSO) has lost 5% of its market share to Gas & Oil Pakistan Limited (GO). Experts explained that the country’s…
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ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has uncovered that millions of consumers across Pakistan were subjected to inflated electricity bills between April and June. This occurred as they lost access to subsidized rates and slab benefits, a direct result of extended pro rata billing practices. A report by the Power Information Technology Company (PITC) revealed that power companies,…
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The Government of Sindh for the very first time held an interactive session, participated by the relevant stakeholders, to showcase the massive potential of the province to produce clean electricity by combining wind and solar renewable sources that are abundantly available in the provincial territory. The Sindh government’s Energy Department teamed up with the Energy Update to present to the…
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System to be installed at 27 key sites for real-time discharge monitoring Pakistan Water and power Development Authority (WAPDA) has awarded contract worth Rs. 21.534 billion for installation of telemetry system at 27 key points on Indus Basin Irrigation System (IBIS) for real-time discharge monitoring. The contract has been awarded to a Joint Venture (JV) comprising CDigital and HBCC along…
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ISLAMABAD: As citizens struggle with soaring electricity bills, a high-level business delegation is set to meet President Asif Ali Zardari on Thursday to address concerns about the excessive capacity charges levied by independent power producers (IPPs) and their impact on the economy. Led by Gohar Ejaz, Chairman of the Economic Policy and Business Development Think Tank, the delegation from the…
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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has cautioned against the forced renegotiation of power sector contracts, emphasizing the potential future repercussions. Nepra Member Law Amina Ahmed stressed the legal and practical constraints of revisiting closed transactions with independent power producers (IPPs) at a public hearing regarding an additional Rs2.63 per unit fuel cost for electricity consumed in June.…
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ISLAMABAD: Amidst accusations of widespread overbilling by power distribution companies, including K-Electric, Prime Minister Shehbaz Sharif has extended the deadline for payment of July and August electricity bills by 10 days. An inquiry by the National Electric Power Regulatory Authority (Nepra) revealed that all distribution companies had been overcharging consumers from April to June 2024. In response, Nepra ordered the…
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Islamabad, Pakistan – In a move to provide relief to citizens, Prime Minister Muhammad Shehbaz Sharif has approved a reduction in the prices of petroleum products, effective immediately. According to a notification issued by the Ministry of Finance, the price of diesel has been decreased by Rs 10.86 per liter, while the price of petrol has been reduced by Rs…
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