ISLAMABAD: The government on Wednesday introduced the Off the Grid Captive Power Plants Levy Bill, 2025 in the Senate, seeking to impose a new levy on natural gas-based captive power plants operating off the national grid. Deputy Prime Minister and Foreign Minister Ishaq Dar presented the bill as part of the supplementary agenda, drawing objections from Pakistan Tehreek-e-Insaf (PTI) lawmakers. They argued it was inappropriate to table a financial bill on a day reserved to honour the late Senator Prof Sajid Mir. However, Acting Chairman Syedaal Khan clarified that the…
Read MoreDay: May 15, 2025
KATI Applauds Fixed Rs38/Unit Power Tariff for Karachi Industry
KARACHI: The Korangi Association of Trade and Industry (KATI) has lauded the federal government’s decision to fix the electricity tariff at Rs38 per unit (inclusive of taxes) for Karachi’s industrial consumers during May 2025, terming it a crucial relief for businesses struggling with soaring production costs. KATI President Junaid Naqi expressed gratitude to Prime Minister Shehbaz Sharif for his industry-friendly stance and appreciated Federal Energy Minister Awais Leghari for implementing reforms that enabled the supply of national grid electricity to Karachi. Naqi also acknowledged the pivotal role of the Special…
Read MoreGovt Moves to Ensure Crude Supply to ARL; Freight Likely Set at Rs1,490/Barrel
ISLAMABAD: In a bid to address supply shortfalls and bolster fuel production for the armed forces, the Petroleum Division has initiated measures to secure the transport of 5,000 barrels per day (BPD) of crude oil from the Naimat oilfield in Sindh to Attock Refinery Limited (ARL) in Rawalpindi. A summary proposing the freight rate at Rs1,490 per barrel for transporting condensate from United Energy Pakistan’s (UEP) Naimat field has been submitted to the Economic Coordination Committee (ECC). Although the proposal was not considered in the ECC’s Tuesday meeting, it is…
Read MoreOil Industry Ensures Jet Fuel Supply, Emergency Preparedness Amid Pakistan-India Tensions: OCAC
KARACHI: Amid heightened tensions between Pakistan and India, the country’s oil sector activated emergency response protocols to ensure uninterrupted supplies of JP8 jet fuel and maintain national energy security, the Oil Companies Advisory Council (OCAC) revealed in a communication to authorities. In a letter to the Director General (Oil), Petroleum Division, and the Chairperson of the Oil and Gas Regulatory Authority (Ogra), OCAC outlined the proactive measures undertaken by the industry to safeguard critical petroleum supplies and infrastructure during the sensitive period. OCAC highlighted that, in light of the prevailing…
Read MorePakistan Receives Over $1 Billion from IMF Under Extended Fund Facility
KARACHI: The State Bank of Pakistan (SBP) confirmed on Wednesday that Pakistan has received over \$1.023 billion from the International Monetary Fund (IMF) as the second tranche under the 37-month Extended Fund Facility (EFF). This disbursement follows the IMF Executive Board’s completion of the first review of Pakistan’s economic performance under the EFF during its May 9, 2025 meeting. The Board approved the immediate release of SDR 760 million—approximately \$1.023 billion—bringing total disbursements under the facility to \$2.1 billion since its approval in July last year. The SBP noted that…
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