Author: Admin

KE Write-Offs Surge to Rs76bn as Utility Seeks Additional Rs8bn, Drawing Public Backlash

Admin
K-Electric-3

ISLAMABAD: K-Electric’s (KE) cumulative write-off claims have surged to a staggering Rs76 billion, with the utility now seeking an additional Rs8.131 billion in unrecovered billing losses, according to a fresh petition submitted to the National Electric Power Regulatory Authority (Nepra). The new request adds to KE’s previous Rs67.902 billion claim for the 2017-2023 Multi-Year Tariff (MYT) period. A prior public hearing in December 2024 saw overwhelming consumer opposition to KE’s attempt to shift the burden of losses onto electricity users or the federal government. Nepra has now scheduled another public…

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Oil Prices Plunge 4% as U.S. Slaps 104% Tariffs on China, Demand Outlook Dims

Admin
Oil prices

SINGAPORE/BEIJING: Oil prices tumbled to their lowest levels in over four years on Wednesday, rattled by escalating trade tensions between the United States and China, coupled with rising global supply concerns. The downturn follows the U.S. imposition of a staggering 104% tariff on Chinese imports, reigniting fears of a prolonged trade war and weakening fuel demand. Brent crude fell by $2.38, or 3.79%, to $60.44 per barrel, while U.S. West Texas Intermediate (WTI) dropped $2.46, or 4.13%, to $57.12 — both hitting their lowest since February 2021. Brent’s six-month spread…

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Pakistan, Saudi Arabia Explore Deeper Collaboration in Energy and Minerals Sectors

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Saudi-Pak1

ISLAMABAD: A high-level Saudi delegation led by Deputy Minister for Mining Abdulrahman Al-Belushi met with Pakistan’s Federal Minister for Petroleum, Ali Pervaiz Malik, to explore avenues for enhanced collaboration in the energy and minerals sectors. The meeting took place on the sidelines of the Pakistan Minerals Investment Forum 2025, highlighting growing bilateral ties and mutual investment interest. Minister Malik highlighted Pakistan’s immense potential in oil, gas, and mineral resources, reaffirming the government’s commitment to fostering a foreign investor-friendly environment. “We are focused on building an investor-conducive ecosystem, ensuring ease of…

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Jam Kamal Calls for global and local collaboration to unlock 95% unexplored reserves

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Jam-Kamal

ISLAMABAD: Federal Minister for Commerce, Jam Kamal Khan, has called for ramped-up foreign and local investment to unlock Pakistan’s vast untapped mineral resources—nearly 95% of which remain unexplored. Speaking at the inaugural session of the Pakistan Minerals Investment Forum 2025, jointly hosted by the Oil and Gas Development Company Limited (OGDCL) and the Special Investment Facilitation Council (SIFC), Kamal underscored the immense potential lying beneath Pakistan’s soil. “You have a country where 95% of mineral resources are yet to be explored in the way they should be. This is a…

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Pakistan and Turkiye signed a joint bidding agreement to jointly participate in offshore bid round of Pakistan

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ministry-of-pakistan

Minister for Petroleum Ali Pervaiz Malik and Alparslan Bayraktar, Minister of Energy and Natural Resources of Turkiye witnessed the signing ceremony. In a significant development, Pakistan and Turkiye have stepped into cooperation in oil and gas exploration. On the sideslines of Pakistan Minerals Investment Forum 2025, Pakistan and Turkiye have signed a joint bidding agreement to jointly participate in offshore bid round of Pakistan.In February 2025, the Government of Pakistan announced an offshore block bid round, offering forty (40) offshore blocks in the Makran and Indus basins for the grant…

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