Author: Admin

MariEnergies Secures 10 New Onshore Exploration Blocks in DGPC Bid Round

Admin
New-Mari1

ISLAMABAD: Mari Energies, formerly known as Mari Petroleum Company Limited, has provisionally secured 10 onshore exploration blocks in Pakistan following the recent competitive bidding round conducted by the Directorate General of Petroleum Concessions (DGPC) on April 30, 2025. In a notice to the Pakistan Stock Exchange (PSX), the company confirmed that it will independently operate seven of the awarded blocks, while the remaining three will be developed through joint ventures (JVs). These JV arrangements include partnerships with Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), and Prime…

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Govt Submits Roadmap to IMF, World Bank for Targeted Power Subsidies under BISP

Admin
New-IMF1

ISLAMABAD: The Government of Pakistan has submitted a detailed roadmap to the International Monetary Fund (IMF) and the World Bank outlining its plan to transition to targeted power subsidies for low-income households through the Benazir Income Support Programme (BISP), sources revealed to Business Recorder. This major policy shift is part of broader energy sector reforms aimed at curbing inefficiencies, reducing blanket subsidies, and promoting climate-resilient practices. Currently, indiscriminate tariff differentials and cross-subsidies disproportionately benefit wealthier consumers and strain the power sector’s financial sustainability. The reform design—developed collaboratively by the Power…

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Power Division to Resubmit Net-Metering Amendments Proposal to ECC Amid Rising Financial Concerns

Admin
Net-Metering

ISLAMABAD: The Power Division is preparing to resubmit its controversial proposal to amend Pakistan’s net-metering regulations to the Economic Coordination Committee (ECC), following a green light from the Cabinet Division. According to official correspondence, while the ECC had approved the proposed changes in its March 13, 2025 meeting, the Federal Cabinet deferred ratification and directed broader stakeholder consultation due to strong public and parliamentary backlash. Now, with shifting circumstances, the Cabinet Division has advised resubmission of the summary for ECC reconsideration. The proposed amendments seek to cap net-metering contract validity…

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Türkiye Reaffirms Unwavering Support for Pakistan, Says President Erdogan

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Turkiye-pak

ISLAMABAD: Turkish President Recep Tayyip Erdogan has reaffirmed Türkiye’s steadfast support for Pakistan, vowing to stand by the country in both good and challenging times, as it has in the past and will continue to do in the future. In a post on X (formerly Twitter), President Erdogan highlighted the deep-rooted ties between the two nations, calling the Türkiye-Pakistan brotherhood “one of the best examples of true friendship” that is rarely seen globally. He emphasized Ankara’s commitment to Pakistan’s peace, stability, and prosperity. Erdogan also commended Pakistan’s “sensible and patient”…

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K-Electric Seeks Rs5.02 Per Unit Tariff Reduction Under Fuel Adjustment

Admin
K-Electric

ISLAMABAD: K-Electric (KE) has approached the National Electric Power Regulatory Authority (Nepra) seeking a reduction of Rs5.02 per unit in power tariff under the Fuel Charges Adjustment (FCA) mechanism for March 2025. In a petition filed with Nepra, KE calculated the requested negative adjustment based on the interim reference tariff of March 2023. If approved, this would translate into a relief of Rs6.79 billion for KE consumers. A public hearing on the matter has been scheduled for May 22 at Nepra Tower, where stakeholders will deliberate on the proposed FCA…

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