Day: November 1, 2025

Government Receives 23 Bids After 18 Years for Offshore Oil and Gas Exploration

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New-oil

ISLAMABAD: In a major development for Pakistan’s energy sector, the government has received 23 bids for 40 offshore exploration blocks — the first such response in 18 years — marking renewed investor interest in the country’s offshore hydrocarbon potential. According to an official statement by the Petroleum Division, bids were received for 23 offshore blocks, covering an area of about 53,510 square kilometres. Among the bidders are leading national energy companies, including the Oil and Gas Development Company Ltd (OGDCL), Pakistan Petroleum Ltd (PPL), Mari Energies Ltd (MEL), and Prime…

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Air Karachi Inaugurates Operations Office at Old Airport, Marks Major Step Toward Launch

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Air-Karachi

KARACHI: Pakistan’s newest airline, Air Karachi, officially inaugurated its operations office at the Old Airport, Karachi, on Friday, marking a significant milestone in its journey toward full-scale operations. The ceremony was attended by prominent dignitaries, including PIA CEO Amir Hayat, Director General Civil Aviation Nadir Shafiq, diplomats, shareholders, and members of the Board of Directors. Speaking on the occasion, Secretary of Defence Lt. Gen. (Retd) Muhammad Ali, HI (M), lauded the initiative, stating, “We are striving to take Pakistan to the position envisioned by our founding leaders. The business community’s…

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Govt Increases Petrol Price by Rs2.43 and HSD by Rs3.02 per Litre

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New-OGRA1

ISLAMABAD: The federal government has announced an increase in petroleum product prices of up to Rs3.02 per litre for the fortnight beginning November 1, 2025, following recommendations from the Oil and Gas Regulatory Authority (OGRA) and relevant ministries. According to a statement issued by the Finance Division, the price of High-Speed Diesel (HSD) has been raised by Rs3.02 per litre, bringing the new ex-depot price to Rs278.44 per litre, compared to Rs275.42 in the previous fortnight. Similarly, the price of petrol has been increased by Rs2.43 per litre, now fixed…

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Pakistan, Kuwait Sign $25 Million Loan Agreement for Mohmand Dam Hydropower Project

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Mohmand-Dam

ISLAMABAD: Pakistan and Kuwait on Friday signed a second loan agreement worth Kuwaiti Dinar 7.5 million (approximately $25 million) to finance the Mohmand Dam Hydropower Project, further deepening bilateral economic cooperation between the two nations. The agreement was formalised at the Ministry of Economic Affairs in Islamabad between the Government of Pakistan and the Kuwait Fund for Arab Economic Development (KFAED). The document was signed by Muhammad Humair Karim, Secretary, Ministry of Economic Affairs, on behalf of Pakistan. The signing ceremony was attended by Fahad Hesham H. A. S. Aldousari,…

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Pakistan, US Explore Cooperation in Minerals and Mining Sector

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National-Minerals

ISLAMABAD: Federal Minister for Finance and Revenue Muhammad Aurangzeb met with Robert Louis Strayer II, President of the Critical Minerals Forum (USA), and Natalie Baker, Chargé d’Affaires of the United States, at the Ministry of Finance on Friday to discuss potential collaboration in Pakistan’s minerals and mining sector. Senior officials from the Ministry of Finance and related departments also participated in the meeting, which focused on strengthening supply-chain security, fostering sustainable investment, and exploring joint opportunities in Pakistan’s critical minerals domain. Welcoming the US delegation, Minister Aurangzeb highlighted Pakistan’s improving…

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