Day: November 8, 2025

Local Refinery Upliftment Rises 23.5pc in October on Stronger Fuel Demand

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Petroleum-Sector

KARACHI: Upliftment from local refineries surged by 23.5 percent year-on-year (YoY) in October 2025, driven by higher offtake of motor spirit (MS), high-speed diesel (HSD), and furnace oil (FO) amid firm domestic demand and a decline in Iranian fuel inflows, industry data showed. Overall refinery production climbed 58.3 percent YoY to 924,000 tonnes, with MS output up 69.3 percent to 229,000 tonnes, HSD up 74.7 percent to 481,000 tonnes, and FO up 23.2 percent to 183,000 tonnes. Industry officials attributed the robust rise mainly to a low base effect from…

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Nepra Orders Rs0.48 per Unit Refund in November Power Bills

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NEPRA-Office

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has directed all state-run distribution companies and K-Electric to refund consumers Rs0.4812 per unit in November electricity bills, following a review of September’s Fuel Charges Adjustment (FCA) that revealed overbilling by power companies. The refund will apply to all categories of consumers except lifeline, protected, EV charging, and prepaid users, Nepra said in its decision. The regulator found that discrepancies between actual and billed fuel costs led to excess charges in September. In line with a federal Cabinet decision ratified on August…

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Power Division Proposes 23% Cut in Sector Allocation Amid Fiscal Strain

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Power-Division

ISLAMABAD: The Power Division has informed the Prime Minister’s Office (PMO) that the power sector’s allocation for the current fiscal year may face a 23 percent reduction, slashing it from Rs 1.261 trillion to Rs 893 billion, according to official sources. The clarification was issued in response to the PMO’s query about the current status and trajectory of circular debt in the energy sector. Sources said the Power Division rejected reports suggesting a steep rise in circular debt, explaining that while circular debt increased by Rs 87 billion during July–August…

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ECC Approves Circular Debt Settlement Plan, Moves to Wind Up Power Holding Limited

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Circular-Debt

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Friday approved a comprehensive inter-corporate circular debt settlement plan, paving the way for the winding up of Power Holding Limited (PHL) — a company originally established to park legacy debt in the power sector. Chaired by Finance Minister Muhammad Aurangzeb, the ECC also endorsed sovereign guarantees worth Rs660 billion to secure Rs1.225 trillion in commercial loans from local banks. These funds will be used to settle circular debt obligations and facilitate gas diversion for fertiliser plants. According to a statement,…

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Global Lenders Warn Pakistan of Mounting Climate Fragility, Urge Urgent Reforms and Sustainable Financing

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New-IMF

ISLAMABAD: International Financial Institutions (IFIs) have sounded the alarm over Pakistan’s growing climate vulnerability and environmental degradation, cautioning that unchecked population growth and dwindling natural resources could intensify the country’s economic and ecological fragility. The warning emerged during the closing plenary of the 28th Sustainable Development Conference, held on Friday, where experts — including representatives from the World Bank, International Monetary Fund (IMF), and United Nations Development Programme (UNDP) — emphasized the urgent need for policy reforms, sustainable financing, and integrated climate action. World Bank Country Director Dr. Bolormaa Amgaabazar…

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