Day: July 16, 2026

ISLAMABAD: Pakistan’s power sector has failed to meet its circular debt reduction target agreed with the International Monetary Fund (IMF), largely due to unpaid dues by K-Electric (KE) and the weak financial performance of several power distribution companies (Discos). According to official sources, the government had committed to reducing the power sector’s circular debt stock to Rs1.614 trillion by June 30, 2026. However, the actual stock stood at approximately Rs1.835 trillion, leaving a shortfall of more than Rs220 billion despite adjustments made against K-Electric’s claims. Officials attributed the gap primarily…

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ISLAMABAD: Two oil tankers carrying approximately one million barrels of Iranian crude have signalled Karachi as their next destination, an unusual development that analysts believe is more likely linked to operational strategy than any plan to unload cargo in Pakistan. According to Bloomberg, the tankers Rani and Amil changed their destination signals to Karachi on Tuesday after already exiting the Persian Gulf, shortly before the United States reimposed stricter enforcement measures targeting Iranian oil shipments. Maritime analysts believe the vessels are unlikely to discharge their cargoes in Pakistan, as doing…

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LAHORE: Pakistan’s LPG industry has urged the government to immediately revise the official LPG pricing mechanism and restore secure transportation routes through Balochistan, warning that delays could lead to fuel shortages and higher prices as winter demand begins to rise. In a statement issued by the LPG Industry Organising Committee, industry representatives said timely intervention by the Oil and Gas Regulatory Authority (OGRA) and the Petroleum Division is essential to ensure adequate LPG supplies ahead of the seasonal demand surge expected from mid-August. Khawaja Nouman Ahmed, a central leader of…

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ISLAMABAD: PetroChina International has secured Pakistan’s latest spot liquefied natural gas (LNG) contract after submitting the lowest bid to supply a 140,000-cubic-metre LNG cargo at US$20.6999 per million British thermal units (MMBtu). The cargo is scheduled for delivery on July 21–22 and marks Pakistan’s sixth spot LNG procurement through competitive bidding since late February. It is also the highest-priced spot LNG cargo purchased during this period, reflecting continued volatility in global LNG markets driven by regional geopolitical tensions. According to official sources, Pakistan LNG Limited (PLL) received two bids in…

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ISLAMABAD: Pakistan’s fuel supply chain is once again facing mounting pressure as critically low petrol inventories, delayed imports, rising international oil prices, and unresolved financial issues raise concerns over a potential fuel shortage. Industry officials warn that a combination of domestic policy delays and geopolitical tensions—particularly disruptions linked to the Strait of Hormuz and Bab el-Mandeb—has heightened the risk of supply disruptions, placing additional strain on the country’s energy security. According to industry data, Pakistan’s available petrol stocks have declined to approximately 379,442 tonnes, including local refinery production, sufficient for…

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