Day: March 6, 2026

Pakistan Expresses Concern Over Canada–India Uranium Supply Agreement

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New-Project11

ISLAMABAD: Pakistan has expressed concern over a long-term uranium supply agreement between Canada and India, as well as their potential cooperation on small modular reactors and advanced nuclear reactor technologies.Responding to media queries on Thursday, Tahir Andrabi, spokesperson for the Ministry of Foreign Affairs Pakistan, said the arrangement represents another country-specific exception in civil nuclear cooperation.He noted that the development is particularly ironic in light of India’s 1974 nuclear test, which was conducted using plutonium produced in a reactor originally supplied by Canada for peaceful purposes. According to the spokesperson,…

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Petroleum Minister Seeks Data on Captive Consumers Shifted to Grid

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ISLAMABAD: Federal Minister for Petroleum Ali Pervaiz Malik has requested detailed data from Power Minister Sardar Awais Ahmad Khan Leghari regarding captive power consumers who have shifted from gas-based generation to the national electricity grid.Sources in the Petroleum Division of Pakistan told Business Recorder that the data is required to prepare recommendations for the International Monetary Fund (IMF) concerning the captive power levy imposed on industrial gas consumers.According to officials, the Petroleum Division’s team had earlier requested power uptake data for captive power plants (CPPs) that were encouraged to move…

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Senate Panel Questions Expertise of PSO Board Members, Reviews Legal Framework of POL Companies

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ISLAMABAD: A parliamentary sub-committee on Thursday reviewed the legal and regulatory framework governing the boards of petroleum sector companies and raised concerns over the expertise of certain members serving on the board of Pakistan State Oil (PSO).The meeting of the sub-committee of the Senate Standing Committee on Petroleum was held at Parliament House under the convenorship of Senator Manzoor Ahmed Kakar. It was attended by Senator Rana Mehmood-ul-Hassan and Senator Amir Waliuddin Chishti, who joined the session virtually.The committee reviewed the legal framework governing the appointment of boards of directors…

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Hamed Yaqoob Sheikh Appointed Secretary Petroleum Division

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New-Project8

ISLAMABAD: The federal government on Thursday appointed senior bureaucrat Hamed Yaqoob Sheikh as the new Secretary of the Petroleum Division of Pakistan, amid growing speculation about potential fuel supply challenges due to rising tensions in the Middle East.According to an official notification, Sheikh — a Grade 22 officer of the Pakistan Administrative Service — has been transferred with immediate effect. Prior to this appointment, he was serving as Secretary of the National Health Services Regulations and Coordination Division.The move comes at a time when the government is closely monitoring the…

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IMF Raises Objections to Pakistan’s Rs1 Trillion Power Subsidy Plan

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ISLAMABAD: The International Monetary Fund (IMF) has raised objections to Pakistan’s proposal to allocate nearly Rs1 trillion in power subsidies for the next fiscal year, expressing concerns over the rising fiscal burden and persistent inefficiencies in the country’s energy sector.Government sources said the Power Division of Pakistan informed the IMF that it may require around Rs990 billion in subsidies for fiscal year 2026–27, beginning in July. The proposed allocation is about 11 percent, or Rs100 billion, higher than the Rs893 billion earmarked for the current fiscal year.A major portion of…

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