Day: October 23, 2026

Govt Defers Operationalisation of Petroleum Price Stabilisation Fund

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Petroleum-Sector

ISLAMABAD: The government has deferred operationalising the Petroleum Prices Stabilisation Fund amid elevated domestic fuel prices and volatility in international oil markets, as petrol and diesel approach Rs400 per litre amid rising tensions in the Strait of Hormuz. The issue was discussed at a Petroleum Price Committee meeting on October 19, focusing on petroleum product deregulation, reducing market distortions and managing potential windfall gains, a senior official told The News. Under the proposed mechanism, an additional levy would be collected on petrol and high-speed diesel when international crude oil prices…

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Govt Outlines New Energy Vehicles Policy 2025–30 in National Assembly

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electric-vehicles

ISLAMABAD: The government has outlined the New Energy Vehicles (NEV) Policy 2025–30 to promote electric mobility, encourage local manufacturing and reduce reliance on imported components, according to a written reply presented in the National Assembly during Question Hour. Responding to a question by Malik Shakir Awan, the government stated that the policy proposes subsidies of Rs80,000 for electric two-wheelers and Rs400,000 for three-wheelers to make electric vehicles more affordable and accelerate adoption. The policy also envisages the establishment of 40 Level-3 fast-charging stations in the initial phase along motorways and…

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Nepra Faces Pressure Over PQEPCL’s Request for Coal Procurement Extension

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New-Nepra

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) is facing a difficult decision over Port Qasim Electric Power Company Limited’s (PQEPCL) reported request for a further extension of its interim coal procurement arrangement, despite more competitive offers emerging from a fresh bidding process, sources told Business Recorder. Sources said PQEPCL had approached senior Nepra officials for an extension of a few months, although the regulator’s previously permitted interim period had expired. The Power Division is reportedly opposed to another extension, arguing that delays in adopting more competitive procurement terms could…

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LPG Crisis Deepens as OGRA Delays Crackdown on Price Gouging

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New-LPG2

LAHORE/PESHAWAR: Liquefied petroleum gas (LPG) prices have surged across Pakistan amid supply disruptions, with rates reaching Rs750 per kilogram in parts of Khyber Pakhtunkhwa (K-P) and cylinder prices exceeding Rs10,000, adding to the financial burden on households. The Oil and Gas Regulatory Authority (OGRA) has yet to launch a planned crackdown on companies and retailers accused of profiteering, amid concerns that enforcement measures could trigger strikes, disrupt supplies and worsen the ongoing energy crisis. The crisis has intensified over the past five to six days following a decline in LPG…

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OASIS Urges Government to Appoint Technically Qualified MD of SNGPL

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SNGPL-Office

ISLAMABAD: The Organisation for Advancement and Safeguard of Industrial Sector (OASIS) has urged the government to appoint a technically qualified and commercially experienced professional as managing director of Sui Northern Gas Pipelines Limited (SNGPL), stressing that the country’s largest gas utility requires strong engineering expertise alongside financial and managerial skills. In a proposal submitted to the Ministry of Petroleum, OASIS highlighted the complexity of SNGPL’s extensive transmission and distribution network, major infrastructure projects and critical gas-supply operations. The organisation recommended that candidates hold a recognised engineering degree in petroleum, gas,…

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