Year: 2025

Rs23bn NGC–PMLTC Tax Dispute Referred to CPEC Review Committee

Admin
New-CPEC

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…

Read More

SPEL Commissions 575KW Solar Plant, Expands Green Energy Capacity to 4.1MW

Admin
New-SPEL

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…

Read More

Turkiye, Pakistan Set to Sign Multibillion-Dollar Energy and Mineral Deals This Week

Admin
Pak-Turk

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…

Read More

Oil Sales Slide 10pc in November Amid Weak Demand

Admin
New-OCAC

KARACHI: Pakistan’s total oil sales fell sharply by 10 per cent year-on-year and 5pc month-on-month to 1.418 million tonnes in November, according to data shared by AKD Securities, citing the Oil Companies Advisory Council (OCAC). Despite the monthly decline, cumulative oil sales in the first five months of FY26 edged up by 1pc, reaching 6.808 million tonnes compared to 6.753m tonnes in the same period last year. High-speed diesel (HSD) sales remained weak at 683,000 tonnes in November — down 13pc YoY and 4pc MoM — despite the kharif harvest…

Read More

LPG Prices Hiked by Nearly 4pc for December

Admin
OGRA-GAS

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) on Monday announced a 3.7 per cent increase in the price of Liquefied Petroleum Gas (LPG), raising the cost of an 11.8kg domestic cylinder by Rs87.21 for December to reflect higher international market rates. According to the notification, the maximum sale price of LPG has been set at Rs209 per kg for December, up from Rs201.6 per kg in November — an increase of Rs7.4 per kg. However, retail prices remain significantly higher, with LPG selling for Rs300–315 per kg in various…

Read More