Day: April 29, 2026

ISLAMABAD: In a significant policy shift, the International Monetary Fund has allowed Pakistan to revise the pricing formula for captive gas levy, paving the way for a reduction of up to 60% in gas costs for industrial users generating in-house power. Under the new mechanism, the levy will be calculated using a weighted average of peak and off-peak B3 industrial tariffs, instead of relying solely on peak rates notified by the National Electric Power Regulatory Authority. This adjustment could bring the levy down from Rs1,303 per mmBtu to around Rs522…

Read More

ISLAMABAD: In a significant development for global energy markets, the United Arab Emirates has announced its decision to withdraw from the Organization of the Petroleum Exporting Countries, dealing a major blow to the influential oil producers’ alliance. UAE Energy Minister Suhail Mohamed al-Mazrouei confirmed the move, stating it was a strategic policy decision based on a reassessment of the country’s current and future production plans. The UAE will formally exit both OPEC and OPEC+ from May 1, without prior consultation with other member states. The decision comes amid heightened geopolitical…

Read More

ISLAMABAD: Global energy prices are expected to surge by 24% in 2026, reaching their highest levels since the Russia-Ukraine War, as escalating tensions in the Middle East disrupt supply chains and commodity markets, according to the latest Commodity Markets Outlook by the World Bank Group. The report forecasts an overall 16% rise in global commodity prices, driven by sharp increases in energy, fertilisers, and key metals. Brent crude is projected to average $86 per barrel in 2026, up significantly from $69 in 2025, following major supply shocks linked to attacks…

Read More

ISLAMABAD: In a major relief for solar consumers, the National Electric Power Regulatory Authority (Nepra) has abolished the licence requirement and Rs1,000 per kilowatt fee for net-metering systems up to 25kW, reversing a controversial policy introduced earlier this year. The decision follows directives from the Power Division, which faced strong public backlash over what critics termed “taxing sunlight.” A notification issued by Nepra confirmed that the amended regulations would be effective from February 9, 2026, restoring a more consumer-friendly framework for small-scale solar adoption. Under the revised rules, only prosumers…

Read More

ISLAMABAD: In a striking contradiction, the National Electric Power Regulatory Authority (Nepra) has reiterated that revenue-based loadshedding is illegal, yet the Power Division has made it clear the practice will continue to contain the country’s mounting circular debt. During a public hearing on a marginal fuel cost adjustment of Rs0.27 per unit, officials confirmed that discontinuing revenue-based loadshedding could add over Rs400 billion to the circular debt, which has already surged to approximately Rs1.8 trillion from Rs1.6 trillion within nine months. Amina Ahmed openly termed the practice unlawful, raising concerns…

Read More