Day: May 21, 2026

AIIB Signals Interest in Pakistan’s Road and Power Sectors, Explores $100–150m Investment Pipeline

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AIIB

ISLAMABAD: The Asian Infrastructure Investment Bank (AIIB) has expressed interest in expanding cooperation with Pakistan in road infrastructure and the power sector, with a potential investment pipeline of $100–150 million, according to official sources. AIIB Vice President Konstantin Limitovskiy held separate meetings with Federal Minister for Communications Abdul Aleem Khan and Power Minister Sardar Awais Ahmed Khan Leghari to discuss ongoing and future infrastructure and energy development projects. During the meeting, Abdul Aleem Khan outlined the government’s plan to complete key transport projects within two years, highlighting the Karachi–Hyderabad and…

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Petroleum Division Proposes Rs1 Trillion Levy Cap, Seeks Fuel Tax Relief Ahead of Budget 2026-27

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Pakistan Petroleum Ltd makes third discovery in Sujawal

ISLAMABAD: The Petroleum Division has proposed reducing the petroleum levy collection target to Rs1 trillion for the next fiscal year and lowering the levy rate on petrol and diesel to Rs50 per litre, citing rising global oil prices and worsening affordability concerns for consumers. In its budget 2026-27 recommendations submitted to the Ministry of Finance, the division warned that high fuel taxes are intensifying inflationary pressures and creating social and economic stability risks. It argued that reliance on petroleum levies should be reduced, particularly amid volatility driven by geopolitical tensions…

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OGDC Secures Eight Offshore Blocks Under Bid Round 2025

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New-OGDCL1

ISLAMABAD, May 21, 2026: Oil and Gas Development Company Limited (OGDC), Pakistan’s largest exploration and production company, has secured eight offshore exploration blocks under the Offshore Bid Round 2025, marking a major expansion of its exploration portfolio. The Government of Pakistan has reopened its offshore exploration frontier after nearly two decades through the signing of Production Sharing Agreements (PSAs) and Exploration Licences (ELs) under the Offshore Bid Round 2025. The signing ceremony was held at the Ministry of Petroleum in Islamabad and was witnessed by Federal Minister for Petroleum Ali…

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Iranian Fuel Smuggling Resurges Amid Regional Tensions, Threatening Local Refineries

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ISLAMABAD: The inflow of smuggled petroleum products from Iran into Pakistan has surged again amid heightened regional tensions, raising serious concerns for local refineries and energy sector stakeholders. Industry sources say the situation has worsened over the past two months, coinciding with disruptions in global energy routes and volatility linked to developments around the Strait of Hormuz. The spike in global oil prices has also increased pressure on Pakistan’s import bill and domestic fuel market. Pakistan’s weekly oil import cost has reportedly jumped from around $300 million to nearly $800…

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Pakistan’s Power Generation Drops 10pc in April as Hydel Output Declines

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Pakistan’s power generation fell 10 per cent year-on-year in April 2026, reaching 9,498 GWh compared to 10,513 GWh in the same month last year, mainly due to a decline in hydel generation. On a monthly basis, however, electricity generation increased by 6 per cent from 8,939 GWh recorded in March 2026. The contraction in annual output was largely driven by a 10 per cent reduction in hydropower generation during the month. Despite the monthly dip in April 2025, overall electricity production during the first ten months of FY26 (July–April) rose…

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