Day: October 19, 2026

ISLAMABAD: The Board of Management of Pakistan State Oil (PSO) has reportedly approved a renewed five-year Sale Purchase Agreement (SPA) with Pak Arab Refinery Limited (PARCO), significantly increasing monthly allocations of motor gasoline and high-speed diesel (HSD) while sharply reducing furnace oil supplies. Under the proposed agreement, PARCO’s monthly motor gasoline (RON 92) allocation to PSO will rise from 18,000 tonnes to 50,000 tonnes, while HSD supplies will increase from 50,000 tonnes to 105,000 tonnes. In contrast, furnace oil allocations will be reduced from 32,000 tonnes to 5,000 tonnes per…

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BANGKOK: Pakistan has so far managed to withstand the impact of soaring global energy prices triggered by the Iran war, with sufficient energy supplies secured through November, Finance Minister Muhammad Aurangzeb has told Agence France-Presse (AFP). However, he warned that attacks on energy infrastructure in Saudi Arabia and other Gulf countries could prolong the return to economic normalcy. Speaking on the sidelines of the International Monetary Fund (IMF) and World Bank annual meetings in Bangkok, Aurangzeb said the government was now planning for the winter season, when household energy demand…

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ISLAMABAD: Liquefied petroleum gas (LPG) industry stakeholders have urged the government to replace monthly price notifications with weekly or daily adjustments and reconsider the linkage with Saudi Aramco’s Contract Price (CP), as border closures and rising transportation costs drive domestic prices higher ahead of winter. The demand follows the closure of the Rahimdad-250 border post, which has disrupted LPG supplies and increased the risk of hoarding, black marketing and artificial price hikes, particularly in remote and hilly areas where consumers depend heavily on the fuel. Industry representatives argue that Pakistan’s…

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ISLAMABAD: The government has directed federal and provincial authorities to take coordinated action against the alleged hoarding of liquefied petroleum gas (LPG) to create an artificial shortage ahead of winter, as market prices have reportedly surged nearly 50 per cent above the official rate. The Oil and Gas Regulatory Authority (Ogra) has also been asked to coordinate with provincial governments and relevant federal agencies responsible for port operations and clearance to ensure the timely lifting and supply of LPG. The move follows reports that an 11.8-kilogram domestic LPG cylinder is…

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ISLAMABAD: The Board of Directors of Sukkur Electric Power Company (SEPCO) has decided to proceed with the recruitment of a regular chief executive officer (CEO), maintaining that the Power Division neither directed the company to withhold the job advertisement nor formally suspended the Board’s earlier decision to readvertise the position, according to sources. The Board has also sought clarification from the ministry regarding the legal authority under which a letter issued at the Section Officer level could effectively halt the implementation of a Board decision. It emphasised that the company’s…

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