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PM Lauds $20bn World Bank Partnership to Drive Economic Growth and Resilience

Admin
world-bank

ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday hailed the $20 billion Country Partnership Framework (CPF) with the World Bank as a groundbreaking initiative to address Pakistan’s developmental challenges and boost economic growth. Speaking at the launch ceremony, he described the decade-long collaboration as a transformative partnership promoting employment, IT-led development, and climate resilience. The prime minister emphasized that the CPF…

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Senate Committee Highlights Energy Sector Challenges, Calls for Reforms

Admin
Wind-Power

KARACHI: The Senate Standing Committee on Petroleum held a pivotal meeting at the Pakistan State Oil (PSO) headquarters on Thursday to address the pressing challenges facing the country’s energy sector. PSO Managing Director Syed Muhammad Taha emphasized the urgency of empowering the company’s board of management with regulatory powers to ensure its sustainability and competitiveness. Highlighting the severity of the…

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OGDCL boosts working interest in Qadirpur gas field to 83% 

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ojdcl

Oil and Gas Development Company Limited (OGDCL) has announced a significant increase in its working interest in the Qadirpur Development and Production Lease (D&PL) through a farm-in agreement with KUFPEC Pakistan B.V.  The energy giant disclosed this development through a notice to the Pakistan Stock Exchange (PSX) on Thursday. The move enhances OGDCL’s stake in the gas field from 75%…

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Pakistan seeks Swedish, EU Green fund assistance for EV conversion

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fund

Minister for Power Awais Ahmed Khan Leghari has invited Sweden Green Fund to assist Pakistan’s small vehicles conversion into electric technology by providing technical and financial assistance. The Minister put the proposal in a meeting with Swedish Ambassador Alexandra Berg Von Linde, who called on him in Islamabad today. Elaborating about the proposal for conversion of existing fossil fuel vehicles…

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Planning for power

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power

Integrated economic planning for Pakistan’s power sector requires a comprehensive approach that addresses the multifaceted challenges faced by the sector today. At its core, this planning should aim to synchronise policies, investments, and operational decisions across all segments of the power sector – generation, transmission, and distribution – while aligning them with the broader objectives of economic growth, industrial competitiveness,…

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Mari Energies Clarifies False News of Fire at Daharki Plant

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New-Mari1

Mari Energies Limited has issued a clarification regarding the false news circulating on social media about a fire at their Daharki plant. The company has confirmed that no such incident has occurred at any of its sites. As a responsible and transparent organization, Mari Energies assures the public and stakeholders that their operations continue to adhere to the highest safety…

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Consumers Likely to Receive Extended Installment Options for Electricity Bills

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New-NEPRA

Islamabad: Efforts are underway to ease the financial burden on electricity consumers across the country. The National Electric Power Regulatory Authority (NEPRA) has proposed allowing consumers to pay their electricity bills in multiple installments within a single fiscal year. This initiative aims to address consumer difficulties while balancing the revenue requirements of distribution companies (DISCOs). NEPRA has also recommended amendments…

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Indian Foreign Minister: No Talks on Trade with Pakistan in the Past Year

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New-Project24

Washington: Indian Foreign Minister S. Jaishankar stated during a press conference at the Indian Embassy in Washington on Wednesday that there have been no discussions on trade with Pakistan over the past year. He clarified that it was Pakistan, not India, that decided to halt trade back in 2019. Jaishankar added that India had granted Pakistan “Most Favored Nation” (MFN)…

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Solar Power Surpasses Coal in EU Electricity Mix for the First Time

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Solar-Panels

Jan 23 (Reuters): Solar energy has overtaken coal in the European Union’s electricity mix for the first time, according to data released by energy think tank Ember on Thursday. Solar power accounted for 11% of the EU’s electricity generation in 2024, up from 9.3% in 2023, while coal’s share fell below 10%—a historic low since Ember began tracking these figures…

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Pakistan’s Oil and Gas Production Declines Amid Weak Demand

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oil and gas

Karachi: Pakistan’s oil and gas production recorded a significant decline during the first half of the current financial year, with oil output dropping by 10% and gas production falling by 7%, according to data released on Wednesday. The decline was largely attributed to forced curtailments at major fields like Nashpa and the TAL block, driven by reduced gas demand. Key…

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