PPL Asia E&P B.V. (PPL Asia), a subsidiary of Pakistan Petroleum Limited (PPL), has received a settlement amount of $6 million from Midland Oil Company (MdOC), a state-owned Iraqi oil entity. PPL, one of Pakistan’s largest exploration and production (E&P) companies, shared the development in its notice to the Pakistan Stock Exchange (PSX) on Monday. “This is further to our…
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ISLAMABAD: IT and Telecom Minister Shaza Fatima Khawaja on Saturday announced that the satellite-based internet-providing company ‘Starlink’ had been registered in Pakistan. Elon Musk responded to messages on social media platform X, confirming that the company was negotiating with the government. The IT minister has responded to queries regarding the status of Starlink’s entry into Pakistan’s internet business on the…
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In a country like Pakistan, where energy reliability is a persistent challenge, Solis introduces the Solarator Series—a cutting-edge range of energy storage inverters designed to ensure uninterrupted power supply, even in areas with frequent load shedding and grid instability.The name Solarator represents its mission: combining “solar” and “generator” to provide a dependable energy solution for your home, business, or industry.Why…
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KARACHI: Sindh Energy Minister Syed Nasir Hussain Shah, during a meeting with a delegation of Thar Coal project-affected individuals on Friday, assured them of the government’s unwavering support in addressing their grievances. The delegation, comprising Bhim Raj, Leelaram, and other community representatives, raised concerns about employment, access to clean water, and basic amenities. Minister Shah reaffirmed the Sindh government’s commitment…
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ISLAMABAD: The Ministry of Finance has raised concerns over the poor financial management in Pakistan’s oil and gas sector, attributing it to the rising circular debt and operational inefficiencies. In its report, the ministry identified key weaknesses in the business strategies of major state-owned enterprises (SOEs), including Pakistan State Oil (PSO), Pakistan Petroleum Limited (PPL), Oil and Gas Development Company…
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ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has sought a comprehensive recovery plan from the Tribal Areas Electricity Supply Company (TESCO) in anticipation of potential government withdrawal of tax exemptions for industrial consumers and the metering of domestic consumers. This inquiry arose during NEPRA’s review of TESCO’s five-year (2025-26 to 2029-30) Investment and Business Plan, which includes an approved…
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Islamabad, January 1, 2025 — Pakistan has officially unveiled the Uraan Pakistan initiative, an ambitious roadmap to propel the country towards becoming a $1 trillion economy by 2035 and a $3 trillion economy by 2047. Built on the transformative 5Es Framework, the initiative emphasizes five key pillars: Exports, E-Pakistan, Environment, Energy & Infrastructure, and Equity, Ethics & Empowerment. Prime Minister…
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ANKARA: Turkey has raised its special consumption tax on fuel by 6%, according to a presidential decree published in the Official Gazette on Tuesday. The move comes as the government aims to manage inflation while maintaining fiscal stability. The tax adjustment, implemented every six months based on the producer price index (PPI), reflects a cumulative five-month PPI increase of 7.12%.…
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ISLAMABAD: The State of the Industry Report 2024, released by the National Electric Power Regulatory Authority (NEPRA), reveals critical inefficiencies in Pakistan’s power sector, exacerbating high electricity costs and impacting consumers nationwide. Despite an installed generation capacity of 45,888 MW, underutilization remains a significant issue, with only 33.88% utilization recorded for FY 2023-24. Consumers bear the financial burden of 66.12%…
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LAHORE: United Arab Emirates (UAE) Ambassador to Pakistan, Hamad Obaid Al Zaabi, emphasized the immense potential for collaboration between Pakistan and the UAE in the renewable energy sector. During a meeting with Punjab Governor Sardar Saleem Haider Khan at the Governor House, the two leaders discussed avenues for enhancing bilateral ties, particularly in economic and energy sectors. Ambassador Al Zaabi…
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