ISLAMABAD: The prices of major petroleum products, including petrol and high-speed diesel (HSD), are expected to decrease by up to Rs9.20 per litre for the second half of August, driven by declining international prices. According to informed sources, international prices for petrol and HSD have dropped by over $3 per barrel in the past two weeks. This reduction could result…
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WAPDA Prepares for Swat River Diversion at Mohmand Dam Project
The Water and Power Development Authority (WAPDA) is on the brink of a major milestone at the Mohmand Dam Hydropower Project, as the diversion tunnels have been completed, setting the stage for the diversion of the Swat River in the coming days. The river diversion will follow the finalization of the river-closure-dyke, despite the challenges posed by the high-flow season.…
Read MoreSindh Chief Minister Syed Murad Ali Shah Visits Indus Motor Manufacturing Hub, Reaffirms Support for Local Auto Industry
KARACHI (August 12) – Sindh Chief Minister Syed Murad Ali Shah visited Indus Motor Company’s (IMC) manufacturing facility at Port Qasim Authority, emphasizing his government’s commitment to fostering the large-scale production of hybrid electric vehicles (HEVs) in Pakistan. During his visit, Chief Minister Shah toured IMC’s state-of-the-art facility and received a comprehensive briefing on the latest production processes, including the…
Read MoreOGDCL Announces Commencement of Production from Pakistan’s First-Ever Tight Gas Project
ISLAMABAD, August 12, 2024: Oil and Gas Development Company Limited (OGDCL) on Monday announced the successful commencement of early commercial production of Tight Gas from Pakistan’s first-ever Tight Gas project, Nur West Well-1 at the Nur Development & Production Lease (D&PL), located in the Sujawal district of Sindh.The Nur West Well-1 is currently producing 1.5 Million Standard Cubic Feet per…
Read MorePetrol, diesel prices likely to decrease from 15th Aug
Pakistan may see a significant reduction in fuel prices in the coming days, with cuts of up to Rs12 per litre expected across various petroleum products, according to industry sources Preliminary calculations suggest that the price of petrol could decrease by over Rs9 per litre, while high-speed diesel (HSD) may see a reduction of up to Rs8.50 per litre. Kerosene…
Read MoreSolar Panel Prices in Pakistan Hit Record Low Due to Excess Supply
Solar panel prices in Pakistan have dropped to a historic low, with the per-watt cost now ranging between Rs. 30 and Rs. 32. This significant decrease in prices is largely attributed to the oversupply in the local market and a decline in international rates. Earlier this year in April, the per-watt price was around Rs. 39 to Rs. 40. By…
Read MoreGovernment to Extend Financial Close Date for Kohala Hydropower Project by Three Years
ISLAMABAD: The government has decided to extend the Financial Close (FC) date for the 1124-MW Kohala Hydropower Project, a key initiative under the China-Pakistan Economic Corridor (CPEC), by three years, starting from October 1, 2024. This extension, granted under the Letter of Support (LoS), will also include a waiver of the extension fee, subject to certain conditions. The decision was…
Read MorePM Shehbaz to Unveil Economic Liberalisation Plan on August 14
ISLAMABAD: Prime Minister Shehbaz Sharif is set to reveal a new economic plan on August 14, aiming to drive real-time export-led growth and dismantle longstanding economic barriers. The plan, developed by a task force in collaboration with Oxford University’s Professor Stefan Dercon, focuses on economic liberalisation and reducing government intervention in subsidies. Key elements of the “Home-grown Economic Plan” include…
Read MoreGovernment Considers Price Equalisation Levy to Sustain Gas Sector
ISLAMABAD: The government is contemplating the introduction of a price equalisation levy on wellhead gas as part of a broader initiative to reform the petroleum sector. The proposed surcharge aims to cross-subsidise protected residential consumers and key industrial sectors, potentially relieving a burden of Rs10-15 billion annually from the federal budget, which is currently allocated to subsidies within the gas…
Read MoreChinese Firm to Establish Solar Panel Manufacturing Plant in PunjabProducts to Supply Punjab Markets and for Export
LAHORE: A major development in Punjab’s renewable energy sector took place as a Chinese company signed an agreement with the provincial government to establish a solar panel manufacturing and assembly plant in the region. The agreement was signed by Provincial Minister of Industries and Commerce, Chaudhry Shafay Hussain, and Alex Hang, President of the South Pacific Region of AIKO, a…
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