Day: September 3, 2025

Solar Power Poised to Reshape Pakistan’s Energy Landscape: Saifur Rehman

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Solar-wind

LAHORE: Federal Tax Ombudsman (FTO) Coordinator Saifur Rehman has said that the rising demand for affordable electricity and the high cost of imported fossil fuels are making renewable energy an increasingly viable and sustainable option for Pakistan. Speaking to a delegation of industrialists led by Zia Ur Rehman, he identified solar energy as the most promising alternative, pointing to Pakistan’s year-round abundance of sunlight as a natural advantage that could reduce reliance on expensive thermal generation. He noted that supportive government measures—such as net metering, tax exemptions on solar equipment,…

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OCAC Calls on Oil Industry to Safeguard Fuel Supply Amid Flood Threat

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New-OCAC

KARACHI: The Oil Companies Advisory Council (OCAC) has urged refineries and oil marketing companies (OMCs) to take precautionary measures to ensure uninterrupted fuel supply and safe operations as Pakistan braces for severe flooding. In a meeting held on September 1 with industry stakeholders, including refineries and OMCs, the council reviewed the evolving flood situation in Punjab and its likely movement toward Sindh, warning of a potential “super flood.” To mitigate risks, the OCAC advised member companies to maximise product upliftment from refineries and pipelines, maintain depot and terminal stocks at…

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Oil Sales Up 5% in First Two Months of FY26 on Price Cuts, Curb in Smuggling

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Petrol-oil

KARACHI: Pakistan’s oil sales rose 5 percent year-on-year (YoY) to 2.5 million tonnes in the first two months of FY26, compared with 2.4 million tonnes in the same period last year, driven by easing petroleum prices, improved automobile sales, and reduced smuggling from Iran. In August alone, sales increased 7 percent YoY and 6 percent month-on-month (MoM) to 1.3 million tonnes. Excluding furnace oil (FO), sales for the month stood at 1.28 million tonnes, up 11 percent YoY and 6 percent MoM, while July–August ex-FO volumes rose 10 percent YoY…

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Dr. Kazim Niaz Appointed Pakistan’s Executive Director at World Bank

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world-bank

ISLAMABAD: Dr. Kazim Niaz, Federal Secretary for Economic Affairs, has been appointed as Pakistan’s Executive Director (ED) at the World Bank in Washington, reliable sources confirmed on Tuesday. The position had remained vacant since the resignation of Dr. Syed Tauqir Hussain Shah earlier this year. Dr. Shah, who had been appointed in November 2023 for a four-year term, stepped down at the request of Prime Minister Shehbaz Sharif to rejoin the government as Principal Secretary to the Prime Minister. He later resigned from that role as well and now serves…

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Saudi Aramco, Iraq’s SOMO Suspend Crude Supply to India’s Nayara Energy After EU Sanctions

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Aramco-new

NEW DELHI: Saudi Aramco and Iraq’s state oil marketing firm SOMO have halted crude oil sales to India’s Nayara Energy following European Union sanctions imposed in July on the Russian-backed refiner, according to three sources cited by foreign media. The suspension forced Nayara—majority-owned by Russian entities including Rosneft—to rely entirely on Russian crude imports in August, shipping data from LSEG and Kpler confirmed. Normally, the refiner sources around 2 million barrels of Iraqi crude and 1 million barrels of Saudi crude each month. The last recorded shipments were discharged in…

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