Day: June 30, 2026

ISLAMABAD/KARACHI: Pakistan has issued an emergency tender to procure a spot cargo of liquefied natural gas (LNG) as escalating security concerns in the Strait of Hormuz threaten regional energy supplies and disrupt one of the world’s most critical maritime trade routes. State-owned Pakistan LNG Limited (PLL) has invited international suppliers to submit bids for the supply of a single LNG cargo on a Delivered Ex-Ship (DES) basis at Port Qasim, according to a tender published through the Public Procurement Regulatory Authority (PPRA). The tender seeks approximately 140,000 cubic metres of…

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ISLAMABAD: The Petroleum Division has defended the appointment of senior serving public officials to the Board of Pak-Arab Refinery Company (PARCO), describing the practice as an internationally recognized corporate governance model designed to safeguard the government’s strategic and commercial interests. The clarification follows recent media reports questioning the reappointment of senior government officials to the PARCO Board, coinciding with an audit report by the Auditor General of Pakistan (AGP), which noted that PARCO had not provided its financial records for audit during FY2024-25. In a statement issued on Monday, the…

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ISLAMABAD: State-owned Sui Northern Gas Pipelines Limited (SNGPL) has sought an extension of the federal government’s sovereign guarantee until June 30, 2030, citing mounting financial pressures caused by accumulated receivables, frozen gas tariffs, and the diversion of expensive re-gasified liquefied natural gas (RLNG) to subsidized domestic consumers. According to official sources, SNGPL has informed the government that it is currently unable to repay a Rs50 billion commercial loan obtained to clear outstanding payments owed to Pakistan State Oil (PSO) for RLNG supplies. The Petroleum Division has attributed Rs819 billion in…

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NEW DELHI: The Delhi government has approved a new Electric Vehicle (EV) Policy that offers generous financial incentives to encourage residents to replace older vehicles with electric alternatives, as part of a broader strategy to combat the capital’s severe air pollution. Under the policy finalized on Monday, car owners who scrap vehicles purchased before April 1, 2020, and replace them with a battery electric vehicle (BEV) will receive a cash incentive of 90,000 Indian rupees (approximately US$1,060). The four-year policy, with an estimated outlay of 150 billion Indian rupees (US$1.59…

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KARACHI: The Federal Investigation Agency (FIA) has registered a criminal case against several senior executives of Gas & Oil Pakistan Limited (GO Petroleum) and associated officials over their alleged involvement in a multi-billion rupee customs fraud involving the illegal removal and sale of imported petroleum products without payment of customs duties, taxes, petroleum levy, and other statutory charges. The case, registered by the FIA’s Corporate Crime Circle, names the Chief Executive Officer of GO Petroleum, the CEO of Terminal One Limited (TOL), the terminal manager, a signatory of GO Petroleum’s…

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