Year: 2025

ISLAMABAD: The Petroleum Division has asked the Power Division to present a firm plan for lifting Regasified Liquefied Natural Gas (RLNG) at a rate of Rs2,000 per MMBTU, as part of the government’s broader initiative to reduce mounting “take-or-pay” liabilities from LNG import contracts. The move aligns with Islamabad’s ongoing efforts to rationalize capacity payments to both Independent Power Producers (IPPs) and government-owned plants. Sources in the Petroleum Division told Business Recorder that concerns have intensified over the forced shutdown of domestic gas fields to accommodate surplus, high-cost RLNG, especially…

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ISLAMABAD: Planning Minister Ahsan Iqbal has revealed that Pakistan received merely $600 million in foreign aid following the devastating 2022 floods that inflicted over $30 billion in damages and losses across the country. Speaking at a press conference on Friday, the minister said that apart from this limited assistance, all other international commitments came in the form of loans — most of them repurposed from previous arrangements. “This is an irony,” he remarked, recalling that the global community had pledged a $100 billion climate-finance fund but “did not provide even…

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ISLAMABAD, October 18, 2025: The Oil and Gas Regulatory Authority (OGRA) has reaffirmed that it is acting strictly within its legal mandate as assigned by the Federal Government to ensure the elimination of solvent mixing in petroleum products. Under Section 30 of the OGRA Ordinance, 2002, all licensees are required to furnish information relating to their licensed operations and products. The Authority’s recent data requisition from Oil Marketing Companies (OMCs) regarding solvent oil is part of a broader effort to ensure that products meant for industrial use are not diverted…

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