ISLAMABAD: The government is set to notify the amended Exploration and Production (E&P) Policy 2012 today, enabling E&P companies to sell 35% of gas from future discoveries to the private sector through competitive auctions. This policy aims to attract $5 billion in investments to Pakistan’s oil and gas sector. According to the implementation framework approved by ECNEC on November 25,…
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ISLAMABAD: Finance Minister Mohammad Aurangzeb has reiterated Pakistan’s commitment to the International Monetary Fund (IMF) by affirming the discontinuation of gas supply to captive power plants (CPPs), a promise made under the 2021 IMF agreement but left unimplemented by the previous government. During a heated Senate panel session, the finance minister emphasized that failing to honor the 2021 commitment had…
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ISLAMABAD: The diversion of Re-gasified Liquefied Natural Gas (RLNG) to the domestic sector has surged to 450 million cubic feet per day (mmcfd) in January 2025, up from 250 mmcfd in December 2024, within Sui Northern’s jurisdiction. This increase significantly exacerbates the circular debt in the gas sector. The current domestic gas tariff averages Rs1,250 per MMBTU, while the RLNG…
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ISLAMABAD: The Pakistan Atomic Energy Commission (PAEC) has submitted a petition to the National Electric Power Regulatory Authority (Nepra) seeking a levelized tariff of Rs16.7354 per unit (5.97 cents) for the upcoming Chashma Nuclear Power Plant-5 (C-5) project. The 1,200 MW facility is estimated to cost Rs1.124 trillion and will be completed within 81 months. The project financing comprises 19%…
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KARACHI: Engro Holdings Limited, one of Pakistan’s leading conglomerates, has announced the appointment of Abdul Samad Dawood as its new Chief Executive Officer (CEO), effective January 3, 2025. The decision was approved by the company’s Board of Directors (BoD) in a meeting held the same day. In a notice to the Pakistan Stock Exchange (PSX), Engro Holdings expressed its gratitude…
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ISLAMABAD: K-Electric (KE) has raised serious concerns over the exclusion of its five renewable energy projects from the Indicative Generation Capacity Expansion Plan (IGCEP) 2024, currently in its finalization stages. The power utility has communicated its grievances to Federal Minister for Power Sardar Awais Leghari, citing previous correspondence and engagements with the National Transmission and Dispatch Company (NTDC). KE claims…
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LAHORE: Chief Minister Punjab Maryam Nawaz Sharif has unveiled a free Solar Panel Scheme aimed at reducing electricity costs for households across the province. Speaking at the launch, the Chief Minister announced that 100,000 homes will receive solar panel systems, with a total project cost of Rs10 billion. Eligible households consuming an average of 200 units of electricity per month…
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ISLAMABAD: The International Monetary Fund (IMF) has demanded a substantial levy on gas supply to industrial captive power plants (CPPs) as part of Pakistan’s commitments under the $7 billion Extended Fund Facility (EFF). The aim is to eliminate the cost advantage of in-house electricity generation over grid power. A structural benchmark under the EFF requires gas disconnections to CPPs by…
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BEIJING: Recent news reports and social media alerts have highlighted a potential outbreak of human metapneumovirus (HMPV) in China. However, Chinese officials have yet to confirm these claims. Instead, data from the Chinese Center for Disease Control and Prevention (CDC) up to the last week of 2024 indicates a surge in various flu-like illnesses across the country. The latest statistics…
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ISLAMABAD: The government has announced plans to establish a 100 MW solar power project in Gilgit-Baltistan (GB) under the Public Sector Development Programme (PSDP), a move aimed at boosting sustainable energy and regional development. In a meeting chaired by the Minister for Kashmir Affairs and Gilgit-Baltistan, officials outlined a phased approach to implementing the project, pending a feasibility study conducted…
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