Day: April 3, 2025

OGDCL Announces Revival of Oil & Gas Production from Chak # 2-2 Well in Sanghar, Sindh

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ISLAMABAD, April 03, 2025: Oil and Gas Development Company Limited (OGDCL) on Thursday announced the successful revival of oil and gas production from Chak # 2-2 Well, a joint venture in the Sinjhoro Block, located in the Sanghar district of Sindh. This achievement underscores OGDCL’s commitment to enhancing the country’s hydrocarbon resources and ensuring energy security.The Sinjhoro Block comprises OGDCL as the Operator with a 62.5% working interest, alongside Government Holdings (Private) Limited (GHPL) with 22.5%, and Orient Petroleum Inc. (OPI) holding a 15% share.Following a sidetrack and recompletion in…

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PM Shehbaz Announces Rs7.41 Per Unit Power Rate Cut to Revive Economy

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New-Project

Islamabad: In a major relief for consumers and businesses, Prime Minister Shehbaz Sharif on Thursday unveiled a substantial reduction in electricity tariffs, slashing rates by Rs7.41 per unit for residential users and Rs7.59 per unit for commercial consumers. “With this reduction, electricity will now be provided at Rs34.37 per unit for residential consumers,” the premier announced during a ceremony, emphasizing that lower power costs are crucial for boosting industrial growth, agriculture, trade, and exports. The move follows a *15% month-on-month decline in power generation, which hit a five-year low of…

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Sindh Energy Department Defends Performance, Blames Centre for Slow Renewable Energy Growth

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renewal-energy

KARACHI: The Sindh Energy Department has defended its performance in response to recent criticism, attributing the slow expansion of renewable energy across provinces to faulty planning at the federal level. A handout issued by the department highlights systemic barriers imposed by the *single-buyer model, under which the *Central Power Purchasing Agency (CPPA) controls electricity procurement. This structure prevents Sindh from independently selling power from its renewable projects, restricting its ability to develop large-scale grid-connected initiatives. Sindh’s Renewable Energy Initiatives Despite federal constraints, Sindh leads the nation in renewable energy production…

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KP Chief Minister Pushes for Net Hydel Profit Dues with PM

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KP-punjab

PESHAWAR: Khyber Pakhtunkhwa (KP) Chief Minister Ali Amin Gandapur has formally raised the issue of outstanding Net Hydel Profit (NHP) dues with Prime Minister Shehbaz Sharif, urging an urgent resolution. In a letter to the Prime Minister, the Chief Minister cited *Article 161(2) of the Constitution, which mandates that revenues from *hydropower generation be allocated to the respective provinces. He emphasized that the Council of Common Interests (CCI) is responsible for determining the NHP rate, referring to the *1991 Qazi Committee Methodology (KCM), which led to the *first payment of…

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Trump’s Sweeping Tariffs Escalate Global Trade War

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Donald-Trump

Former U.S. President Donald Trump has imposed a 10% tariff on most imports and significantly higher duties on numerous countries, further intensifying a global trade war that threatens economic stability. Announced in the *White House Rose Garden, the sweeping tariffs rattled financial markets and drew sharp criticism from world leaders. *Forbes reported that the U.S. has imposed a *29% reciprocal tariff on Pakistan, responding to Pakistan’s *58% tariff on U.S. goods. The move caused *Japan’s Nikkei to hit an eight-month low, while **U.S. and European stocks tumbled, erasing nearly *$5…

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