Author: Admin

Pakistan Requests Alternative Supply Route via Yanbu, Saudi Arabia Assures Full Support

Admin
New-Project91

Federal Minister for Petroleum, Ali Pervaiz Malik, held a meeting with H.E. Nawaf bin Said Al-Malki, Ambassador of the Kingdom of Saudi Arabia to Pakistan. During the meeting, both sides discussed matters of mutual interest and bilateral cooperation. The Federal Minister apprised the Ambassador about the current situation and the implications of the closure of the Strait of Hormuz on global energy markets. He stated that Pakistan is closely monitoring the evolving situation on a daily basis, as the majority of Pakistan’s energy supplies transit through the Strait of Hormuz.…

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LESCO Cracks Down on Electricity Theft: Rs74.9m Fines Imposed, 24 Arrested in February

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New-LESCO

LAHORE: The Lahore Electric Supply Company (LESCO) intensified its efforts against electricity theft in February, arresting 24 individuals, levying fines exceeding Rs74.9 million, and charging over two million units to offenders. According to LESCO headquarters, a total of 1,796 cases of electricity theft were detected across all operational circles during the month. Authorities submitted 1,760 FIR requests to police stations, resulting in 547 formal case registrations and 24 arrests. Enforcement operations also recovered over Rs15.8 million during this period. Circle-wise breakdown revealed that the Central Circle recorded the highest number…

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LNG Freight Rates Surge Over 40% Amid Escalating Middle East Conflict

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LNG

SINGAPORE: Daily freight rates for liquefied natural gas (LNG) carriers surged by more than 40% on Monday as escalating tensions in the Middle East disrupted tanker movements through the Strait of Hormuz. According to Spark Commodities, a leading pricing assessment agency for LNG shipping, Atlantic basin rates climbed to $61,500 per day — an increase of 43%, or $18,750, compared to the previous day. In the Pacific basin, LNG freight rates rose to $41,000 per day, marking a 45% jump, or $12,750 higher than the preceding session. The sharp rise…

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Govt Drafts First-Ever Power Sector Indigenisation Plan 2026–35 to Cut Import Dependence

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power-sector-in-pakistan

ISLAMABAD: The federal government is finalising Pakistan’s first-ever Power Sector Indigenisation Plan (PSIP) 2026–35, a comprehensive roadmap aimed at strengthening domestic manufacturing in the power sector, reducing reliance on imports and positioning the country as a competitive player in regional energy supply chains. The plan focuses on the strategic localisation of Electrical Power Equipment (EPE) — including transformers, switchgear, cables, meters and control systems — which are currently imported in large volumes. Phased Strategy for Localisation Drawing lessons from countries such as China, India and Turkey, the framework proposes a…

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Govt Unveils Energy Contingency Plan as Trade Deficit Swells to $25bn

Admin
New-Project90

ISLAMABAD: The federal government has activated an emergency energy contingency plan to ensure uninterrupted fuel and gas supplies amid escalating tensions in the Gulf region, while Pakistan’s trade deficit widened by 25% to $25 billion during the first eight months of the current fiscal year. A ministerial committee tasked with maintaining smooth petroleum supplies briefed Prime Minister Shehbaz Sharif on Tuesday after Qatar signalled it may not be able to supply scheduled liquefied natural gas (LNG) cargoes due to the ongoing Gulf conflict. The prime minister authorised the committee—headed by…

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