Author: Admin

Power minister defends move to abolish net metering as in line with law amid Senate fury

Admin
Power minister

ISLAMABAD: Power Minister Awais Leghari on Tuesday defended the power regulator’s changes on rooftop solar and net metering during a furious Senate session that criticised the decision, saying the new regulations were aimed at protecting poorer consumers. The government is currently facing political backlash as the National Electric Power Regulatory Authority (NEPRA) abolished exchange of electricity units in solar net metering. At present, the buyback rate for solar net generation is Rs25.9 per unit which may be reduced to Rs11 per unit. The contract period has been reduced from seven to five years. The burden…

Read More

Wafi Energy Pakistan to establish subsidiary in UAE

Admin
wafi energy

Wafi Energy Pakistan Limited (formerly Shell Pakistan Limited), a leading Saudi-based energy company, has approved the establishment of a wholly owned subsidiary in Dubai as part of its strategy to expand business and commercial operations beyond Pakistan. The listed company disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Tuesday. It said that the new company will be established in the Dubai Free Zone of Dubai Multi Commodities Centre (DMСС) and will be will be 100% owned by Wafi. “The Board of Directors of the company…

Read More

Oil prices higher

Admin
Oil price

NEW YORK: Oil prices rose more than 1percent on Monday after the US Department of Transpor-tation issued an advisory to US-flagged vessels to stay as far as possible from Iranian territory while voyaging through the Strait of Hormuz and Gulf of Oman. Brent crude oil futures were up 89 cents, or 1.3percent, at USD68.94 a barrel by 11:24 a.m. EST (1624 GMT). US West Texas Intermediate crude rose 83 cents, or 1.3percent, to USD64.38. The US DOT’s Maritime Administration agency noted that vessels going through the Strait of Hormuz and…

Read More

Oil prices steady as Iran-US tensions and US data eyed

Admin
Oil prices

NEW YORK: Oil prices were little changed on Tuesday as the market waited for direction from news on Iran and Russia and data on the U.S. economy and U.S. oil inventories. Brent futures rose 27 cents, or 0.4%, to $69.31 a barrel at 9:58 a.m. EST (1458 GMT), while U.S. West Texas Intermediate (WTI) crude rose 12 cents, or 0.2%, to $64.48. “The market is still focused on the tensions between Iran and the U.S.,” said Tamas Varga, oil analyst at brokerage PVM. “But unless there are concrete signs of…

Read More

4th Pakistan Climate Conference

Admin
Federal Minister Climate Change Dr Musadik Malik giving OICCI Climate Champion Award 2026 to Nestlé Pakistan CEO Jason Avanceña and team at the 4th Pakistan Climate Conference.

Nestlé Pakistan wins OICCI Climate Champion Award second time in a rowFederal Minister for Climate Change Dr Musadik Malik recognizes Nestlé’s efforts in Pakistan towards Climate & Net Zero, regenerative agriculture and circularity; calls on private sector to come together for coordinated action KARACHI: Nestlé Pakistan’s efforts towards creating shared value for people, planet and business were recognized due to its initiatives on Climate & Net Zero, regenerative agriculture and circularity at the 4th Pakistan Climate Conference, as it won the top Climate Champion Award second time in a row.…

Read More