Day: September 30, 2025

Petrol, diesel prices hiked by over Rs4 per litre

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Petroleum-prices

Govt revises fuel rates effective October 1, 2025, on OGRA’s recommendation ISLAMABAD: In yet another blow to inflation-hit consumers, the government on Tuesday raised the prices of petroleum products for the first fortnight of October 2025, increasing both petrol and high-speed diesel (HSD) by more than Rs4 per litre. According to a notification issued by the Finance Division, the price of HSD has been increased by Rs4.04 to Rs276.81 per litre, while petrol (MS) will now cost Rs268.68 per litre, up by Rs4.07. The revised prices will take effect from October…

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Pakistan Reaffirms Clean Energy Commitment at COMSATS Forum

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New-Project42

The Commission on Science and Technology for Sustainable Development in the South (COMSATS), in collaboration with a number of national and international partner organizations, held international Seminar on The Future of Energy: Innovations in Renewable and Clean Energy Technologies. Federal Minister for power Sardar Awais Ahmed Khan Leghari, graced the inaugural ceremony of the event, as Chief Guest, held at COMSATS University Islamabad (CUI). Ambassadors and diplomats of Palestine, Philippines, Somalia, Syria, Sudan, and Zimbabwe also attended the inauguration. The Federal Minister noted that although Pakistan contributes less than 1%…

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Experts Urge Responsible Mining to Unlock Pakistan’s Minerals Economy

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Reko-Diq

KARACHI: Pakistan must embrace responsible mining standards to realise the full potential of its vast mineral wealth, experts emphasised at a webinar hosted by Renewables First on “Building Pakistan’s Mineral Economy.” With momentum growing after the revival of the Reko Diq project, panellists highlighted the need for fiscal reforms, harmonised policies, credible geological data, and strong community engagement to attract global investment. White & Case LLP partner Kamran Ahmad termed Reko Diq a “game changer,” saying its financing framework sets a precedent for other ventures. Dr Hamid Ashraf of the…

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Pakistan Moves to Settle Rs320bn CPEC Plant Dues With Rs565bn Financing

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CPEC-IPPs

ISLAMABAD: Pakistan has secured Rs565 billion under a Rs1.225 trillion financing package with 18 commercial banks, paving the way for long-delayed settlements with seven China-Pakistan Economic Corridor (CPEC) coal-based Independent Power Producers (IPPs). Of the total raised, Rs660 billion has already been allocated to clear Power Holding Company (PHL) debt, while the remaining Rs565 billion is earmarked for payments to CPEC coal plants and 49 wind and solar IPPs. The government is pressing Chinese operators for a Rs170 billion waiver in late payment interest (LPI), reducing the Rs320 billion outstanding…

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OGDC Receives Rs7.73bn Third Interest Instalment Under Circular Debt Plan

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ogdc-new

ISLAMABAD: Oil and Gas Development Company Limited (OGDC), Pakistan’s largest exploration and production firm, has received the third interest payment of Rs7.73 billion from Power Holding (Private) Limited (PHL) under the government’s circular debt settlement plan. In a notice to the Pakistan Stock Exchange (PSX) on Tuesday, OGDC stated the instalment is part of twelve equal monthly payments of Rs7.725 billion each, amounting to Rs92 billion in total interest, scheduled to be repaid from July 2025. The company confirmed steady progress under the government’s initiative to curb circular debt in…

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