Year: 2026

ISLAMABAD: Pakistan has purchased its most expensive liquefied natural gas (LNG) cargo in nearly four years as energy supply pressures intensify following disruptions linked to the effective closure of the Strait of Hormuz, according to Bloomberg. State-owned Pakistan LNG Limited secured the cargo for June 6–7 delivery from BP Plc through a tender that closed on Thursday, traders familiar with the matter said. The emergency purchase was reportedly made after a scheduled LNG shipment from Qatar was cancelled amid heightened geopolitical tensions in the region. The cargo was priced at…

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ISLAMABAD: Pakistan’s infrastructure sector is exposed to a high risk of corruption and governance weaknesses despite having a largely robust regulatory framework, according to a new assessment released by Transparency International (TI) Pakistan on Friday. The report highlights that weak enforcement of rules, politically influenced project selection, fiscal constraints, and increasing reliance on non-competitive contracting practices are undermining transparency and efficiency in infrastructure planning and execution. Titled “Infrastructure Corruption Risk Assessment (ICRAT): Assessment of Governance Gaps in Infrastructure Planning and Implementation in Pakistan,” the report assigns Pakistan an overall risk…

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ISLAMABAD: Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar on Friday chaired a meeting of the Steering Committee overseeing the privatisation process of electricity distribution companies (Discos), and reviewed progress on the first batch of entities. The committee was briefed by the Privatisation Commission on the current status and progress of Batch-I Discos, including IESCO, FESCO, and GEPCO. The meeting expressed satisfaction over the pace of work and directed the Commission to complete the process within the agreed timelines. Senator Dar emphasised that while privatisation is aimed at…

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ISLAMABAD: The federal government has earmarked Rs91 billion for 49 ongoing and new power sector development projects under the Public Sector Development Programme (PSDP) 2026-27, according to official budget documents. Out of the total allocation, Rs86.823 billion has been reserved for ongoing schemes, including Rs75.431 billion in foreign funding (rupee cover) and Rs11.392 billion in local financing. After the inclusion of three new schemes worth Rs4.177 billion, the overall foreign funding component will rise to Rs79.607 billion, while local financing remains unchanged. The funding will support key transmission, distribution, and…

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ISLAMABAD: The Oil Companies Advisory Council (OCAC) has voiced strong opposition to a proposed government move to recover inventory valuation gains from oil marketing companies (OMCs), warning that such a measure could undermine energy security, market stability, and the sustainability of Pakistan’s petroleum supply chain. In a letter addressed to the Secretary Petroleum Division, the OCAC expressed concern over media reports suggesting that a high-level committee had been formed to review the cross-subsidy mechanism and examine the recovery of inventory gains arising from fluctuations in international oil prices. The council…

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