Author: Admin

Financial Crisis Chokes United Energy, Triggers Layoffs and Raises Energy Security Concerns

Admin
New-Project109

ISLAMABAD: Chinese-owned United Energy Pakistan Limited (UEP), one of Pakistan’s largest foreign oil and gas producers, is facing a severe financial crisis due to nearly $300 million in unpaid receivables and prolonged delays in tax refunds, sources told Profit. The cash-flow crunch has already forced the company to lay off around 70 employees and threatens its operational sustainability. A subsidiary of Hong Kong-based United Energy Group, UEP operates major upstream oil and gas assets in Sindh and also runs a 99 MW wind power project at Jhimpir under CPEC. Despite…

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2025 Proves Devastating Year for World’s Poorest Countries: Report

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New-Project108

WASHINGTON: The year 2025 has emerged as one of the harshest in recent history for poor and conflict-affected countries, as prolonged wars, climate shocks and deep cuts in global aid converged to create what humanitarian agencies describe as a “new world disorder.” According to the Peace Research Institute Oslo (PRIO), 61 wars were ongoing across 36 countries in 2024—the highest since World War II—and most of these conflicts dragged on into 2025, intensifying displacement, hunger and instability. Save the Children estimates that wars left 60 million children starving this year,…

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Death of Ex-SBP Governor Dr Shamshad Akhtar Condoled

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New-Project107

KARACHI: The Board of Management and staff of the State Bank of Pakistan (SBP) have expressed profound sorrow and grief over the sad demise of former SBP Governor Dr Shamshad Akhtar. In a statement, the SBP said Dr Shamshad Akhtar made history as the first female Governor of the State Bank of Pakistan. Her tenure was marked by exemplary leadership, integrity and an unwavering commitment to public service. The statement added that she rendered outstanding services to Pakistan and the international community through senior leadership roles at the Asian Development…

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Russia Nearly Doubles LPG Exports to Central Asia, Afghanistan in 2025

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New-LPG

MOSCOW: Russia has almost doubled its exports of liquefied petroleum gas (LPG) to Central Asian countries and Afghanistan during the January–November period this year, reaching 1.016 million metric tons, industry sources told Reuters on Friday. The surge comes as Moscow redirects LPG supplies away from Europe following the European Union’s restrictions on Russian LPG imports imposed in December 2024 over the Ukraine conflict. LPG, which includes propane and butane, is widely used for transport fuel, heating and petrochemical production. Traders said shipments to Afghanistan, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan now…

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IESCO Delivers Strong Performance in FY25, Says CEO

Admin
Power-Tariff

ISLAMABAD: Islamabad Electric Supply Company (IESCO) recorded an outstanding performance during FY25 by fully implementing reforms and directives issued by the Government of Pakistan and the Ministry of Energy (Power Division), Chief Executive Engineer Ch Khalid Mahmood said on Sunday. He said IESCO prioritized digitalization and transparency by rolling out the “Apna Meter Apni Reading” mobile application across the region and upgrading 118 call centre services to provide timely and efficient customer support. Emphasis was placed on modern technology in customer services, operations, construction and grid management. During the anti-electricity…

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