Day: July 4, 2026

ISLAMABAD: Pakistan is expected to witness significant growth in electric mobility, with the number of electric vehicles (EVs) on its roads projected to reach 2.2 million by 2030, according to a briefing presented to the Senate Standing Committee on Industries and Production. The committee was informed that under the country’s electric vehicle policy, the adoption of EVs is expected to accelerate over the coming years, driven by government support and increasing local manufacturing. The briefing revealed that more than 12,800 electric vehicles and approximately 160,000 electric motorcycles have already been…

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KARACHI: Pakistan’s refinery product offtake declined 8.1% year-on-year (YoY) in June 2026, driven mainly by a sharp drop in demand for high-speed diesel (HSD) and furnace oil (FO), while refinery production continued to increase, resulting in higher inventory levels across the sector. According to industry data, HSD sales fell 16% YoY to 423,000 tonnes, reflecting lower procurement by oil marketing companies (OMCs) and a resurgence in cross-border fuel smuggling, encouraged by elevated domestic diesel prices. The average ex-refinery price of HSD stood at Rs347 per litre during June, representing a…

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DUBAI: Iran has initiated discussions with Japanese companies to resume crude oil exports following the recent easing of U.S. sanctions, although potential buyers are seeking a longer sanctions waiver and assurances over the safety of shipping routes through the Gulf, according to Iranian and Western sources. The United States authorised limited Iranian oil sales in June as part of broader diplomatic efforts aimed at securing a comprehensive agreement with Tehran. The proposed deal seeks stronger commitments from Iran on nuclear inspections and the protection of freedom of navigation through the…

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LITTLETON, Colorado: The latest edition of the Energy Institute’s 75th Statistical Review of World Energy paints a complex picture of the global energy landscape, highlighting rapid shifts in power generation, clean energy deployment, electricity demand, and carbon emissions. Rather than presenting a single global trend, the data underscores an energy system evolving at different speeds across regions and technologies. China Strengthens Its Position as the Global Energy Powerhouse The report shows that China has firmly established itself as the world’s dominant energy producer and consumer. Between 2010 and 2025, China’s…

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ISLAMABAD: Audit authorities have identified irregular expenditure amounting to Rs25.744 million in the Diamer-Bhasha Dam Project (DBDP), citing the unauthorized attachment of officers to the Chairman Wapda’s office and the payment of their salaries from project funds despite their not performing duties related to the dam project. According to the audit report, the project’s approved PC-I did not include posts for Staff Officers to the Chairman at the Liaison Office in Islamabad. It also sanctioned only one position of Chief Logistic Officer for the Logistics Cell, with no provision for…

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