Day: July 2, 2026

KARACHI: The Overseas Investors Chamber of Commerce and Industry (OICCI), representing nearly 200 of Pakistan’s largest foreign investors, has launched its Corporate Social Responsibility (CSR) Report 2025, highlighting a significant increase in corporate investment towards social and community development across the country. According to the report, OICCI member companies collectively invested Rs15 billion in CSR initiatives during FY2024-25, reflecting a 10% increase over the previous year. These initiatives directly benefited more than 44 million people nationwide. A major portion of the spending—Rs4.5 billion—was dedicated to flood relief, rehabilitation, and recovery…

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ISLAMABAD: Pakistan’s four major oil refineries have strongly opposed the government’s proposal to retrospectively reduce the deemed duty on high-speed diesel (HSD), arguing that such a move would unfairly penalize the industry for delays caused by the government’s own failure to implement the Pakistan Oil Refining Policy for Upgradation of Existing (Brownfield) Refineries 2023. In a joint representation submitted to the Secretary, Petroleum Division, following a meeting chaired by the Minister for Energy (Petroleum Division) on June 23, the chief executives of Attock Refinery Limited (ARL), National Refinery Limited (NRL),…

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ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has approved a salary increase, performance increments, and limited employee bonuses for the Central Power Purchasing Agency (Guarantee) Limited (CPPA-G) for the fiscal year 2025-26, while significantly trimming several of the company’s proposed operational and administrative expenditures. The decision was issued as part of NEPRA’s determination on the CPPA-G Market Operation Fee for FY2025-26. The agency had sought approval for a market operation fee of Rs14.67 per kW per month, including prior-year and miscellaneous adjustments, along with a net revenue requirement of…

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KARACHI: Pakistan Petroleum Limited (PPL) has announced that the relevant regulatory authority has granted a Development and Production Lease for the Adhi Field to the Adhi Joint Venture, according to a notice submitted to the Pakistan Stock Exchange (PSX). The lease covers an area of 212.86 square kilometres located across the Rawalpindi and Chakwal districts of Punjab, enabling the joint venture to continue the development and production of hydrocarbons from one of the country’s key oil and gas assets. Under the joint venture arrangement, Pakistan Petroleum Limited (PPL) serves as…

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ISLAMABAD: The Privatisation Commission has extended the deadline for the submission of Expressions of Interest (EOIs) from investors for the privatisation of Faisalabad Electric Supply Company (FESCO) and Gujranwala Electric Power Company (GEPCO) under the government’s Batch-I DISCOs Privatisation Programme. Under the revised schedule, EOIs for FESCO can now be submitted until August 7, 2026, while the deadline for GEPCO has been extended to August 21, 2026. The Commission clarified that the deadline for the Islamabad Electric Supply Company (IESCO) remains unchanged, with EOIs due by September 7, 2026. According…

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