Day: September 25, 2025

Iran Defies Snapback Threat, Vows Oil Sales to China Will Continue

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Iran-China

DUBAI: Iran’s Oil Minister Mohsen Paknejad said Wednesday that Tehran will continue selling oil to China even if United Nations sanctions are reimposed under the snapback mechanism. His remarks came as European powers push to resolve a standoff over Iran’s nuclear program at the sidelines of the UN General Assembly. Foreign ministers of France, Britain, and Germany (the E3), along with EU foreign policy chief Kaja Kallas, met with Iran’s top diplomat on Tuesday to prevent the reimposition of sanctions. The E3 triggered the 30-day snapback process on August 28,…

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Govt Secures Rs1.23tr Circular Debt Deal Without Extra Burden on Consumers

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New-DEBT

ISLAMABAD: The government on Thursday announced the successful conclusion of a landmark Rs1.225 trillion circular debt resolution plan, assuring that the arrangement will not impose any additional burden on power consumers. Repayments, it clarified, will be serviced through the already levied surcharge of Rs3.23 per unit. In a statement, the Ministry of Finance said the breakthrough was achieved through coordinated efforts of the Prime Minister’s Task Force on Power, the Ministry of Energy, the State Bank of Pakistan, the Pakistan Banks Association, and 18 commercial banks. The agreement covers the…

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PSO Flags Supply Chain Risks Over Unplanned Diesel Allocations

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PSO-Head

KARACHI: Pakistan State Oil (PSO) has raised alarm over what it described as “extraordinary and unplanned” allocations of high-speed diesel (HSD), warning that the practice is severely disrupting its supply chain planning and exposing the market to risks. In a letter to the Oil and Gas Regulatory Authority (Ogra), the state-owned oil marketing company said it would not accept volumes beyond its regular October allocation, accusing refineries and oil marketing companies (OMCs) of creating distortions by failing to lift their commitments and producing more than declared levels. PSO said it…

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Climate Crisis: Global South Cannot Afford Hollow Slogans, Warns Sherry Rehman

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Sherry-Rehman

ISLAMABAD: Chairperson of the Senate Standing Committee on Climate Change, Senator Sherry Rehman, has cautioned that the Global South cannot endure another climate summit of “slogans without substance,” stressing that the crisis is real and existential for vulnerable nations. Delivering keynote addresses at the London School of Economics Environment Week on the Road to COP30, she said: “Our house is burning. As micro-emitters, many developing countries did not create this ball of fire, yet we are paying the highest price.” Rehman called for urgent reforms in climate financing, arguing that…

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NA Panel Criticises Discos Over Rampant Unannounced Loadshedding

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Load-shedding

ISLAMABAD: The National Assembly’s Committee on Cabinet Secretariat on Wednesday condemned the widespread unannounced loadshedding by electricity distribution companies (Discos), terming it a violation of policies and directions set by the National Electric Power Regulatory Authority (Nepra). Committee Chairman Malik Ibrar Ahmad announced that officials from the Power Division will be summoned in the next meeting to explain the issue. The panel was informed that load management was being carried out under the Aggregate Technical and Commercial (AT&C) Loss Policy on the instructions of the Power Division. Mr Ahmad, however,…

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