Year: 2025

Govt Mulls Quarterly Gas Price Revisions to Curb Circular Debt

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Gas-Tariffs

ISLAMABAD: The government is considering a major policy shift to move from biannual to quarterly gas price revisions, aligning the gas sector’s tariff mechanism with that of the power sector in a bid to strengthen the financial health of gas utilities and contain the growing circular debt. Under the proposed system, the Oil and Gas Regulatory Authority (OGRA) will notify revised gas tariffs every three months instead of twice a year. The Petroleum Division has already asked OGRA to propose amendments to existing regulations, with a final report expected to…

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PTA Global Acquires 75% Stake in Lotte Chemical Pakistan for $69 Million

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lotte-chemical

KARACHI: South Korea’s Lotte Chemical has sold a 75 percent stake in its Pakistani subsidiary, Lotte Chemical Pakistan Limited, to Dubai-based PTA Global Holding for $68.94 million (approximately 98 billion won). The divestment comes as part of Lotte’s broader portfolio restructuring under a government-supported initiative aimed at supporting South Korea’s petrochemical sector amid global oversupply and weak demand. Lotte Chemical Pakistan operates a state-of-the-art plant in Karachi with an annual production capacity of 500,000 tons of high-purity terephthalic acid (PTA), a key raw material for polyester fibers, yarns, and PET…

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CM Murad hails German unity as global inspiration, pledges deeper ties

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New-Project117

KARACHI (Nov 12): Sindh Chief Minister Syed Murad Ali Shah lauded the reunification of Germany as a ‘powerful example of determination, hope, and unity’ that transcends deep divisions, inspiring reconciliation, cooperation, and progress worldwide. Addressing a gathering at the German Consulate in Karachi on the occasion of German Unity Day, Mr. Shah underscored Germany’s “long-standing and trusted friendship” with Sindh and Pakistan, highlighting the celebration as a reflection of enduring spirit. The Chief Minister emphasised the critical need for nations to build bridges of cooperation and understanding to confront contemporary…

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Pakistan and France join hands to explore opportunities in minerals

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New-Project116

ISLAMABAD, November 12,2025: The Government of Pakistan, in collaboration with the Embassy of France in Pakistan, hosted a high-level webinar titled “Pakistan’s Minerals Economy: Gateway to Growth” to highlight the country’s vast mineral resources and promote investment opportunities for French companies and investors in the minerals and mining sector.The event was co-chaired by Federal Minister for Petroleum Ali Pervaiz Malik and French Ambassador to Pakistan Nicolas Galey at the Oil and Gas Development Company Limited (OGDC) Headquarters in Islamabad. Mr. Benjamin Gallezot, Interministerial delegate for supplies of strategic minerals and…

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Pakistan and France join hands to explore opportunities in minerals

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Pakistan and France

ISLAMABAD, November 12,2025: The Government of Pakistan, in collaboration with the Embassy of France in Pakistan, hosted a high-level webinar titled “Pakistan’s Minerals Economy: Gateway to Growth” to highlight the country’s vast mineral resources and promote investment opportunities for French companies and investors in the minerals and mining sector.The event was co-chaired by Federal Minister for Petroleum Ali Pervaiz Malik and French Ambassador to Pakistan Nicolas Galey at the Oil and Gas Development Company Limited (OGDC) Headquarters in Islamabad. Mr. Benjamin Gallezot, Interministerial delegate for supplies of strategic minerals and…

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