Day: March 14, 2026

Pakistan Seeks IMF Approval for Rs1.5 Trillion Gas Circular Debt Settlement Plan

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Circular-Debt

ISLAMABAD: The government of Pakistan has sought approval from the International Monetary Fund (IMF) for a plan to retire Rs1.5 trillion in gas sector circular debt within three years, using dividends from major public sector gas companies, LNG savings and funds collected through petroleum levies. The proposal was discussed during the latest review talks under Pakistan’s $7 billion bailout programme, though negotiations ended without a final decision. Government officials said Islamabad hopes to secure the IMF’s approval before June so that provisions can be included in the upcoming federal budget…

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PM Shehbaz Holds Petroleum Prices Steady Despite Global Oil Market Surge

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Shehbaz-Sharif

ISLAMABAD: Prime Minister Shehbaz Sharif has decided not to increase the prices of petroleum products despite a rise in international oil prices, aiming to provide relief to consumers and reduce the financial burden on the public. According to a statement issued by the Prime Minister’s Office, the premier said the decision reflects the government’s commitment to supporting citizens during a period of economic uncertainty. “Prices are not being increased to reduce the burden on the common man,” the prime minister said, adding that he remained committed to providing maximum possible…

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LHC Stays Recovery of Electricity Duty from Oil and Gas Firms

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LHC-Petrol

RAWALPINDI: The Lahore High Court (LHC) has granted interim relief to major oil and gas companies by staying the recovery of electricity duty, a move that could significantly affect the provincial government’s tax collection strategy. A division bench comprising Justice Jawad Hassan and Justice Tariq Mahmood Bajwa issued the order while hearing constitutional petitions filed by Pakistan Oilfields Limited (POL) and Attock Refinery Limited (ARL). The petitions challenged the constitutional validity of amendments introduced through the Punjab Finance (Amendment) Act, 2025. Representing the petitioners, Asad Ladha, Advocate, argued that the…

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Solar, Wind and Local Energy Sources Strengthen Pakistan’s Energy Security: Power Minister

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Solar-wind

KARACHI: Pakistan’s increasing reliance on domestic energy sources — including solar, wind, hydropower, nuclear and local coal — has significantly reduced the country’s vulnerability to disruptions in global liquefied natural gas (LNG) supplies, Federal Power Minister Awais Leghari said. In an interview with Reuters, the minister noted that Pakistan has been steadily shifting toward indigenous power generation to enhance energy security and reduce dependence on imported fuels. “Pakistan has been steadily increasing reliance on indigenous energy resources, and about 74 percent of our electricity generation now comes from local sources,”…

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South Asia Faces $107 Billion LNG Risk Amid Middle East Conflict and Market Volatility

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China-LNG

Rising geopolitical tensions and shipping disruptions in the Middle East are exposing South Asia’s massive investments in liquefied natural gas (LNG) infrastructure to significant economic and energy security risks, according to a new report by Global Energy Monitor (GEM). The report, based on data from GEM’s Asia Gas Tracker, reveals that India, Bangladesh, and Pakistan have collectively announced or are developing LNG terminals and gas pipelines worth approximately $107 billion. The region currently accounts for 17 percent of global LNG import capacity under development, equivalent to 110.7 million tonnes per…

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