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Pakistan Unveils NEV Policy to Transition 30% Vehicles to Electric by 2030

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electric-vehicles

ISLAMABAD: The government has launched a New Energy Vehicle (NEV) policy aiming to transition 30% of all new vehicles in Pakistan to electric by 2030. The policy, announced by Industries and Production Minister Rana Tanveer Hussain, includes subsidies, tax breaks, and financing incentives to promote electric vehicles (EVs) and hydrogen-powered transport. Key measures include subsidies of Rs50,000 for electric motorcycles…

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Petroleum Production and Exports Surge in First Four Months of FY25

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petrol-price

ISLAMABAD: Pakistan’s petroleum sector witnessed remarkable growth during the first four months of FY25, driven by a 30.98% surge in crude oil imports, resulting in increased production by local refineries and a significant rise in exports. According to preliminary estimates, this growth in production and exports is expected to positively contribute to the country’s economic progress in the ongoing fiscal…

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Mr. Saquib Fayyaz Magoon, SVP FPCCI, graced the inauguration of IDEAS 2024 at Expo Centre, Karachi.

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Saquib-Fayyaz

He met Khawaja Muhammad Asif, Chief Guest & Federal Minister for Defence and Mr. Jam Kamal Khan, Guest of Honor & Federal Minister of Commerce; Mr. Kamran Tessori, Governor Sindh; Dr. Farooq Sattar and Mrs. Nasreen Jalil, on the sidelines of the internationally and economically-significant exhibition. Lt. Gen. Muhammad Chiragh Haider, HI (M), Secretary (DP) and Brig Iftikhar Opel, SI…

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Pakistan to Slash EV Charging Costs to Boost Electric Vehicle Adoption

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Electric-Vehicle

ISLAMABAD: Pakistan plans to significantly lower electricity tariffs for electric vehicle (EV) charging stations as part of its strategy to decarbonize the transport sector and stimulate EV demand, according to Power Minister Awais Leghari. The government is formulating a pricing structure to make EV charging more affordable for small cars, two-wheelers, and three-wheelers. This initiative aligns with the broader goal…

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SNGPL Holds CPPA-G Accountable for Rs. 148 Billion in Outstanding Receivables

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SNGPL-Office

ISLAMABAD: Sui Northern Gas Pipelines Limited (SNGPL) has attributed the accumulation of Rs. 148 billion in outstanding receivables to delays in payments by the Central Power Purchasing Agency–Guaranteed (CPPA-G). The amount includes dues from Independent Power Producers (IPPs), government-owned plants, and WAPDA, highlighting a severe financial strain on SNGPL’s operations. According to SNGPL, receivables from Guddu Power Plant alone amount…

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Petroleum Division Proposes Third-Party Gas Sales Framework

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Oil-Price

ISLAMABAD: The Petroleum Division has prepared a framework for the sale of up to 100 MMCFD gas by Exploration and Production (E&P) companies to third parties through open auctions. The summary, finalized following an inter-ministerial committee decision led by Deputy Prime Minister Ishaq Dar, will be submitted to the Executive Committee of the National Economic Council (ECNEC) for approval. Initially…

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Schlumberger Wins OGDCL Contract for Tight Gas Evaluation Study

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OGDCL-Wins

ISLAMABAD: Schlumberger (M/s SLB) has been awarded a key contract by the Oil and Gas Development Company Limited (OGDCL) following a competitive international tender for an “integrated study of tight gas prospectivity evaluation.” The rigorous selection process involved 11 global bidders, with Schlumberger chosen for its strong technical expertise and cost-effective proposal. The study will focus on identifying Pakistan’s most…

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Azerbaijan to Invest $3 Billion in Pakistan’s Economy

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Azerbai-jan

ISLAMABAD: Azerbaijan has pledged an investment of up to $3 billion in Pakistan across various sectors, marking a significant boost for the South Asian nation’s economy. Prime Minister Shehbaz Sharif announced the development during a recent cabinet meeting, revealing plans to formalize the investment through memoranda of understanding (MoUs). The move aims to strengthen Pakistan’s economic landscape. The premier also…

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ECC Approves Discounted Winter Power Package to Boost Consumption

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Power Users to Receive Refund

ISLAMABAD: The Economic Coordination Committee (ECC) has approved a subsidy-neutral initiative offering discounted electricity rates for incremental consumption during the winter months (December to February). The package, targeting residential, commercial, and industrial consumers, aims to boost electricity demand amid high tariffs and economic challenges. The initiative is expected to increase consumption by up to 16%, aligning with International Monetary Fund…

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AI and Battery Storage Innovations Key to Reducing Electricity Costs: German Ambassador

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Battery-Storage

Islamabad, November 19, 2024: German Ambassador Alfred Grannas met with Federal Minister for Power, Sardar Awais Ahmed Khan Leghari, to explore the role of artificial intelligence (AI) and battery storage in addressing Pakistan’s energy challenges. Ambassador Grannas highlighted how innovations in AI and battery storage technologies are significantly reducing electricity costs, aiding in Pakistan’s transition to more sustainable energy solutions.…

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