Day: April 7, 2026

Oil Industry Rejects ‘Guaranteed Return’ Model, Warns of Fiscal Risks and Market Distortions

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New-oil

ISLAMABAD: Pakistan’s oil industry has firmly opposed proposals to replace the existing fuel pricing mechanism with a guaranteed return model, cautioning that such a shift would effectively require year-round government subsidies and strain public finances. Industry stakeholders argue that the current pricing framework—linked to international benchmarks—is globally accepted and ensures alignment with market dynamics. They warn that abandoning this system in favour of guaranteed returns would reverse reform efforts and create unsustainable fiscal liabilities, particularly in light of guidance from institutions like the International Monetary Fund, which discourages open-ended subsidy…

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Fan Industry Seeks Policy Support for Value Addition, Energy Efficiency in Meeting with Finance Minister

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New-Project12

ISLAMABAD: Representatives of Pakistan’s electric fan industry have urged the government to introduce targeted policy measures to promote value-added manufacturing, improve exports, and accelerate the adoption of energy-efficient technologies. The demands were presented during a virtual meeting with Finance Minister Muhammad Aurangzeb, where industry leaders highlighted key structural challenges and growth opportunities. The delegation, led by the Federation of Pakistan Chambers of Commerce and Industry and the Pakistan Electric Fan Manufacturers Association, emphasised the need to curb the export of raw materials such as copper and aluminium. They argued that…

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Ogra, PSO Criticised for Weak Oil Stock Monitoring; Govt Orders Crackdown on Hoarding

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Nawaz-Sharif

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) and Pakistan State Oil (PSO) faced strong criticism from the government over slow progress in digitising and integrating petroleum stock and supply data, raising concerns about transparency and market oversight. The issue was highlighted during a meeting of a cabinet committee formed by Prime Minister Shehbaz Sharif to monitor petroleum prices amid evolving global and regional challenges. The session, chaired by Finance Minister Muhammad Aurangzeb, pointed to gaps in data reporting and pricing mechanisms—particularly in diesel rate calculations. Participants, including Climate Change…

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India Advances Toward Nuclear Fuel Self-Reliance with Breakthrough Reactor Milestone

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New-Project11

India has taken a significant step toward achieving nuclear fuel self-reliance as its indigenously developed Prototype Fast Breeder Reactor (PFBR) at Kalpakkam successfully reached “criticality”—a key stage where a self-sustaining nuclear chain reaction is established. Prime Minister Narendra Modi described the milestone as a defining moment in the country’s civil nuclear journey, marking progress in the second phase of India’s long-term nuclear programme. He highlighted that the advanced reactor has the capability to produce more fuel than it consumes, underscoring the country’s growing scientific and engineering strength. The development is…

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Opposition Slams Petroleum Price Hike as Government Cites Global Market Pressures

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New-Petrol

ISLAMABAD: A heated debate erupted in the National Assembly as opposition members strongly criticised the recent surge in petroleum prices, while the government defended the move as a necessary response to volatility in the international oil market. The session began with opposition lawmaker Shahid Khattak calling for the suspension of the Question Hour to address the price hike. The demand received broad support across the House, leading to its suspension and a dedicated discussion on the issue. Petroleum Minister Ali Pervaiz Malik informed lawmakers that global oil prices had surged…

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