Day: December 2, 2025

KARACHI: The Oil Marketing Association of Pakistan (OMAP) has urged the Special Investment Facilitation Council (SIFC) to take decisive action against individuals and politically motivated groups allegedly running malicious campaigns aimed at discouraging foreign direct investment (FDI) in the country. In a letter addressed to Lt Gen Sarfraz Ahmed, National Coordinator at SIFC, OMAP expressed concern over “misleading, factually incorrect and malicious advertisements” being circulated against the petroleum sector. These efforts, it said, are designed to confuse the public, sow doubt, and undermine reputable companies operating fully within Pakistan’s legal…

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ISLAMABAD: A major financial dispute worth Rs23 billion between the National Grid Company (NGC) and the Pak Matiari–Lahore Transmission Company (PMLTC) has been escalated to the China–Pakistan Economic Corridor (CPEC) Review Committee, headed by Minister for Planning, Development and Special Initiatives Ahsan Iqbal. According to sources, Chinese-owned PMLTC has reported that NGC—formerly National Transmission and Dispatch Company (NTDC)—is refusing to pay Provincial Sales Tax on transmission service invoices, despite the levy becoming legally applicable in July 2023. The tax is contractually defined as a pass-through cost under the Transmission Service…

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KARACHI: SPEL Limited (formerly Synthetic Products Enterprises Limited) has commissioned a 575KW solar power project, boosting its total renewable energy capacity to 4.1MW. The development was disclosed in a notice to the Pakistan Stock Exchange (PSX) on Tuesday. “This milestone marks another significant step in our Environmental, Social, and Governance (ESG) commitments,” the company said. “With the addition of the new 575KW project to our existing 3.55MW of green energy, SPEL now meets roughly 24%–29% of its annual electricity requirements through clean, renewable sources. This achievement reflects our dedication to…

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ISLAMABAD: Pakistan and Turkiye are poised to elevate their strategic partnership as they prepare to sign multibillion-dollar agreements this week in the energy and mineral sectors, marking a major breakthrough in bilateral cooperation. A high-level Turkish delegation, led by Minister of Energy and Natural Resources Alparslan Bayraktar, will arrive in Islamabad on Tuesday to formalise partnerships in offshore exploration and mineral development. According to official sources, Turkish Petroleum Overseas Company (TPOC) and Pakistani exploration firms will sign a commercial agreement for the Eastern Offshore Block-C—an initiative recently cleared by the…

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