Author: Admin

PPEPCA Urges Govt Intervention to Clear Rs1.55trn Overdue Payments to E&P Firms

Admin

ISLAMABAD: The Pakistan Petroleum Exploration and Production Companies Association (PPEPCA) has sought the Ministry of Energy’s urgent intervention to resolve the issue of overdue receivables amounting to Rs 1.547 trillion owed to exploration and production (E&P) companies by Sui gas utilities, official sources told Business Recorder. In a letter addressed to the federal minister for energy, the secretary, and other senior officials, PPEPCA referred to its earlier correspondence dated August 22, 2025, highlighting the continued default by Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company Limited (SSGCL)…

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OCAC Asks Ogra to Revisit Line Fill Financing Cost Recovery Mechanism

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New-OCAC

ISLAMABAD: The Oil Companies Advisory Council (OCAC) has urged the Oil & Gas Regulatory Authority (Ogra) to review and rationalise the existing recovery methodology for line fill financing costs, seeking permission for recovery at the actual financing rate incurred by Oil Marketing Companies (OMCs) to ease growing financial pressure on the industry. In a letter to Ogra’s Executive Director (Finance) Altaf Hussain, OCAC Secretary General Syed Nazir Abbas Zaidi referred to Ogra’s letter dated January 13, 2026, and discussions held during a meeting on January 14, 2026, chaired by the…

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Abandoning Costly Power Procurement to Save $17bn, Says Power Minister

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Awais-Leghari

ISLAMABAD: Federal Minister for Power Sardar Awais Ahmed Khan Leghari has said the government has abandoned the procurement of around 8,000 megawatts of expensive electricity purely on merit, a move expected to save nearly USD 17 billion. Addressing a news conference on Sunday, the minister said losses of power distribution companies are being absorbed by the federal government instead of being passed on to consumers. He added that wide-ranging power sector reforms are underway, leading to improved recoveries and a significant reduction in losses and circular debt. According to Leghari,…

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KE Accuses Power Division of Violating SHC Interim Orders on Tariff Differential Subsidy

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K-Electric

ISLAMABAD: K-Electric (KE) has strongly criticised the Power Division for actions related to the Tariff Differential Subsidy (TDS), terming them a clear violation of interim orders issued by the Sindh High Court (SHC). In a letter to the Additional Secretary (Power Finance), KE CEO Syed Moonis Abdullah Alvi warned the Ministry of Energy (MoE) to immediately cease and desist from implementing or acting upon review tariff determinations that are sub judice. KE maintained that the review tariffs have neither been notified nor attained legal finality and therefore fall squarely under…

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KCCI CALLS EMERGENT MEETING ON SUNDAY KCCI Constitutes Gul Plaza Fire Incident Committee; Appeals for Immediate Relief and Compensation

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Gul-Plaza

KARACHI: In the wake of the tragic fire that engulfed Gul Plaza on M.A. Jinnah Road, resulting in the irreparable loss of precious human lives and the destruction of one of Karachi’s busiest commercial centers, an emergent meeting was held at the Karachi Chamber of Commerce and Industry (KCCI) on Sunday wherein formation of Gul Plaza Fire Incident Committee was announced to coordinate relief activities, assess damages, and formally appeal to the government for compensation and rehabilitation of affected traders.The Committee has been formed by Chairman Businessmen Group (BMG) Zubair…

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