Year: 2025

China’s November Refined Oil Exports Dip 2.2% YoY as LNG Imports Jump 13.6%

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refined-oil

BEIJING: China’s exports of refined oil products declined 2.2 per cent year-on-year in November, although shipments rose sharply on a month-on-month basis, according to customs data released on Thursday. Total refined oil exports—including diesel, gasoline, aviation fuel and marine fuel—stood at 5.12 million metric tons in November, up 13.3 per cent from 4.52 million metric tons in October. Cumulatively, China exported 52.65 million metric tons of refined oil during January–November, marking a 3.2 per cent decline compared to the same period last year. Gasoline exports fell sharply to 610,000 metric…

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Privatisation Roadmap Advances for Power Plants, DISCOs and PIA

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Power-sector

ISLAMABAD: The privatisation of key power sector assets—including two power plants and three electricity distribution companies (DISCOs)—along with the sale of a majority stake in Pakistan International Airlines (PIA), moved closer to implementation on Thursday as officials briefed a Senate panel on the government’s roadmap and timelines. The Senate Standing Committee on Privatisation, chaired by Senator Afnanullah Khan, was informed that the Guddu and Nandipur power plants are fully prepared for privatisation. Officials also said preparatory work has been completed for the first-phase sale of Islamabad Electric Supply Company (IESCO),…

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Petroleum Levy Collections Projected to Reach Rs2.2 Trillion by FY2030

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Petrol-Diesel

ISLAMABAD: The federal government has projected petroleum levy collections of Rs1.468 trillion for the ongoing fiscal year 2025-26, with annual revenues expected to rise sharply to Rs2.212 trillion by FY2029-30, according to estimates cited in an International Monetary Fund (IMF) report. Official figures show that more than Rs650 billion has already been collected during the first five and a half months of the current fiscal year, indicating strong momentum in levy receipts. The IMF projections point to a steady upward trend in petroleum levy revenues as part of Pakistan’s broader…

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WB Calls for Gas-Sector Reforms, Unbundling of Utilities to Tackle Circular Debt

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OGRA-GAS

ISLAMABAD: The World Bank has urged Pakistan to develop a comprehensive road map for gas-sector reforms, including the unbundling of public gas utilities, to improve efficiency, reduce losses and rein in the mounting circular debt. At present, two state-owned companies—Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC)—serve consumers nationwide. However, their vast distribution networks have struggled to curb losses, contributing to circular debt that has surged to around Rs2.6 trillion. World Bank Country Director for Pakistan Bolormaa Amgaabazar raised the issue during a meeting with Federal…

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Pakistan, China Move Forward on $2.2bn Integrated Maritime Industrial Complex at Port Qasim

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Port-Qasim

ISLAMABAD: Pakistan and China have advanced discussions on a major maritime industrial project at Port Qasim, with a five-member delegation from China’s Shandong Xinxu Group meeting Federal Minister for Maritime Affairs Muhammad Junaid Chaudhry to review plans for an Integrated Maritime Industrial Complex (IMIC). According to an official statement, the proposed project—estimated to cost between $1.1 billion and $2.2 billion—aims to revitalise Pakistan’s maritime and heavy industrial base. The Chinese delegation was led by Shandong Xinxu Group Chairman Hou Jianxin. The IMIC is envisaged to comprise three core components: revival…

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