Day: October 7, 2026

PSO Cuts Trade Receivables by Rs22.7bn in FY26

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New-PSO

KARACHI: Pakistan State Oil (PSO) reduced its trade receivables by Rs22.7 billion to Rs414.8 billion in FY26, mainly due to a decline in outstanding amounts owed by government entities, helping the state-owned oil company lower its finance costs by 24 per cent despite continued liquidity pressures. According to PSO’s FY26 annual report, trade receivables stood at Rs414.8 billion at the end of the financial year, compared with Rs437.5 billion in FY25. Net receivables from SNGPL, GENCOs and PIA Holding Company stood at Rs357.5 billion. SNGPL remained the largest contributor, with…

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IEA to Finalise Diesel Stock Release Details Next Week as Market Confusion Grows

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New-Project22

ROME/LONDON: The International Energy Agency (IEA) is expected to determine the details of a planned diesel and crude oil release from emergency reserves next week as uncertainty grows over the volumes Europe and the United States intend to make available to ease fuel shortages and record-high prices. The surge in diesel prices has emerged as a major global economic and political concern because the fuel is critical to trucking, agriculture and industrial activity. Conflicts involving Iran and Ukraine have disrupted exports and damaged refining capacity, contributing to the sharp increase…

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Punjab Plans Province-Wide Expansion of Biogas Production

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New-Project21

LAHORE: The Punjab government has drawn up an ambitious province-wide plan to expand biogas production and has submitted a summary to the provincial cabinet seeking approval for private investment in commercial-scale projects. The initiative aims to attract private investors to convert livestock waste into a source of indigenous and renewable energy, while reducing reliance on conventional fuels. Under the proposed programme, the Energy Department plans to develop biogas projects across Punjab based on the availability of livestock and waste resources. The programme will combine large-scale commercial plants with smaller community-…

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Lucky Cement-Led Consortium Pre-Qualified for GEPCO Privatisation Due Diligence

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Lucky-Cement

ISLAMABAD: A consortium comprising Lucky Cement Limited, Hub Power Holdings Limited, Kohat Cement Company Limited and Metro Ventures (Private) Limited has been pre-qualified to conduct due diligence on Gujranwala Electric Power Company Limited (GEPCO) as part of the government’s privatisation process. Lucky Cement informed the Pakistan Stock Exchange (PSX) in a filing on Wednesday that the consortium had submitted an Expression of Interest (EoI) and Statement of Qualification for the proposed acquisition of a 51% to 100% equity stake in GEPCO, along with management control. The consortium, along with other…

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Govt Prioritises Domestic Consumers in Winter Gas Load Management Plan

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New-Gas

ISLAMABAD: The government has decided to give top priority to domestic consumers in the allocation of locally produced gas during the upcoming winter season, while prioritising regasified liquefied natural gas (RLNG) for power generation and industrial users. The decision was taken during a meeting chaired by Prime Minister Shehbaz Sharif in Islamabad to review preparations for managing gas demand and supply during the winter months. The prime minister directed relevant authorities to formulate a comprehensive gas load management plan and take advance measures to address potential supply challenges. He also…

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