Day: June 19, 2025

Pakistan Russia Energy Ministers Advance the Energy ties, Minister Ali Pervaiz invites Russian Company to invest in Minerals

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New-Project38

The Federal Minister for Energy Mr. Ali Pervaiz Malik, is visiting Russia, leading a delegation to participate in International Economic Forum 2025 being held in St. Petersburg, Russia from 18-21 June 2025. 2.    On the sidelines of the forum, the Minister held meetings with his counterpart and Chair of Pakistan-Russia Inter Governmental Commission (IGC) and Minister of Energy Mr. Sergei Tsivilev. During the meeting both sides held detailed discussions on areas of cooperation between two countries including energy, connectivity, trade and investment, banking and insurance, mining and people to people…

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ARL Inks Agreement with Italian Firm STP for Refinery Upgrade FEED and Consultancy

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New-ARL

ISLAMABAD – Attock Refinery Limited (ARL) on Wednesday signed a key agreement with Italy-based STP Studi Technologie Progetti for Front End Engineering Design (FEED) and Project Management Consultancy (PMC) for its major refinery upgradation project. The agreement was signed by ARL CEO Adil Khattak and STP CEO Carlo Gustavo Lombardi, marking a significant step towards enhancing ARL’s operational efficiency and commitment to environmentally friendly fuel production, according to a press release. The upgradation project, estimated to cost up to \$600 million, aims to boost product quality and compliance with modern…

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Careem Exits Ride-Hailing in Pakistan, Shifts Focus to Regional Tech Platform

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New-Careem

KARACHI – In a long-anticipated move, Careem has officially suspended its ride-hailing operations across Pakistan, notifying users via email and push notifications on Wednesday. The decision, which takes effect from July 18, marks the end of an era for the Dubai-based company that began operations in Pakistan in 2015. Social media was abuzz with surprise and disappointment from users, particularly women, who viewed Careem as a safer ride option. However, tech experts say the exit had been expected. “This is just a formal confirmation,” said Mutaher Khan, co-founder of Data…

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SIFC Reviews \$6bn Refinery Upgrade Plans Amid IMF Pushback on Tax Proposals

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Refinery-Upgrades

ISLAMABAD – The Special Investment Facilitation Council (SIFC) on Wednesday deliberated on the future of \$6 billion refinery upgrade projects, following the IMF’s rejection of key government tax proposals aimed at supporting the oil refining sector. The government had earlier sought to restore zero-rated tax status and impose a 10% sales tax on petroleum products (POL) to facilitate refinery modernization. However, the IMF turned down both proposals, urging the government to submit alternative measures. Sources familiar with the meeting said the authorities would continue to engage IMF officials until the…

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Pakistan to Launch Rs100bn Electric Vehicle Policy, Targets 30% EV Sales by 2030

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Electric-Vehicle

ISLAMABAD – The federal government is set to unveil the ambitious National Electric Vehicle (NEV) Policy 2025–30 today (Thursday), marking a major leap toward clean mobility, energy efficiency, and industrial self-reliance. Announced by Special Assistant to the Prime Minister Haroon Akhtar Khan, the policy outlines over Rs100 billion in subsidies and introduces a new levy on internal combustion engine (ICE) vehicles to help finance the transition to electric mobility. In its first phase, the policy allocates Rs9 billion in FY2025–26 to support the rollout of 116,053 e-bikes and 3,171 e-rickshaws…

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