Author: Admin

Aurangzeb to Lead High-Level Committee on Oil Price Volatility Amid Middle East Conflict

Admin
Oil prices

ISLAMABAD: In response to soaring global oil prices following the Iran-Israel conflict, Prime Minister Shehbaz Sharif has formed a high-level committee led by Finance Minister Senator Muhammad Aurangzeb to monitor economic implications and formulate a mitigation strategy for Pakistan. According to an official communication dated June 13, 2025, the Prime Minister’s Office directed the Petroleum Division to initiate coordinated efforts due to the sharp spike in international oil prices post-Israel’s attack on Iran. The committee comprises key stakeholders including the Ministers for Petroleum, Power, and State Finance; Governor of the…

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ECC Approves Power Purchase Agreements for Karachi Nuclear Power Plants K-2, K-3

Admin
Nuclear-Power

ISLAMABAD – In a key development for Pakistan’s energy sector, the Economic Coordination Committee (ECC) has approved the signing of Tripartite Power Purchase Agreements (TPPAs) for the Karachi Nuclear Power Plants Unit-2 (K-2) and Unit-3 (K-3), each with an installed capacity of 1,145 MW. The agreements will be signed between the Pakistan Atomic Energy Commission (PAEC), National Grid Company (NGC)—formerly NTDC—and the Central Power Purchasing Agency-Guaranteed (CPPA-G), the market operator. According to a briefing by the Power Division, K-2 and K-3 are strategic baseload facilities located in Karachi and operated…

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President Approves Captive Power Plants Levy Bill Amid Industry Concerns

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New-RLNG

ISLAMABAD – President of Pakistan has signed into law the Off the Grid (Captive Power Plants) Levy Bill, 2025, following its approval by both Houses of Parliament. The legislation imposes a phased levy on natural gas and RLNG consumption by captive power plants (CPPs), sparking concern among industrial stakeholders. Introduced by Federal Minister for Petroleum Ali Pervaiz Malik and passed by the National Assembly on May 22, the bill mandates an immediate 5% levy, increasing to 10% by July 2025, 15% by February 2026, and reaching 20% by August 2026.…

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Iran Strikes Tel Aviv and Haifa, Fueling Fears of Full-Scale Middle East WarDozens killed and wounded as G7 summit puts Israel-Iran conflict at top of agenda

Admin
Israel-Iran

TEL AVIV/DUBAI/WASHINGTON – Iranian missiles rained down on Tel Aviv and Haifa on Monday, killing at least 10 people and wounding dozens more in a dramatic escalation of hostilities that has alarmed world leaders and sparked fears of a broader Middle East war. According to Israeli media, three people were killed in central Israel, while emergency responders reported about 30 injured in Haifa, where fires erupted near the city’s power plant. Residential buildings in Tel Aviv were also hit, and live footage showed missiles streaking across the skies over Tel…

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Karachi Faces Urban Flood Threat as Drain Cleaning Delayed Monsoon preparedness stalled by funding bottlenecks; experts warn of severe flooding risk

Admin
Urban-Flood

KARACHI – With the Pakistan Meteorological Department predicting 20–30% above-normal rainfall in Karachi and interior Sindh, the city remains vulnerable to urban flooding due to the delayed cleaning of its storm water drains—an issue compounded by the Sindh government’s slow release of funds. Despite repeated warnings and past flood disasters, the Karachi Metropolitan Corporation (KMC) has yet to receive the necessary funds for cleaning its 586 drains, including 41 major nullahs. Sources told The Express Tribune that the KMC has requested Rs650 million for the 2024 monsoon season, but historically…

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