Author: Admin

Pakistan to Lift Gas Connection Ban, New Consumers to Get Dollar-Linked LNG

Admin
SSGC-LPG

ISLAMABAD, Aug 1: Pakistan is preparing to lift its nationwide ban on new gas connections—in place since 2019—by introducing a new supply model based on dollar-linked, unsubsidized liquefied natural gas (RLNG) pricing, a senior government official revealed on Thursday. A summary has been submitted for Prime Minister’s approval, which would enable both household and commercial consumers to apply for new connections. However, the gas supplied will be imported LNG, with its price pegged to international crude oil and subject to foreign exchange fluctuations. While consumers will continue to pay in…

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OGDCL Discovers Oil at Chakar-1 Well in Sindh’s Tando Allah Yar

Admin

KARACHI, Aug 1: Oil & Gas Development Company Limited (OGDCL) has announced a new oil discovery at the Chakar-1 exploratory well located in District Tando Allah Yar, Sindh, according to a notice submitted to the Pakistan Stock Exchange (PSX) on Friday. The discovery was made in collaboration with joint venture partner Government Holdings (Private) Limited (GHPL), which holds a 5% carried interest. Chakar-1 was spudded on June 2, 2025, under the Tando Allah Yar Exploration License, and drilled to a total depth of 1,926 meters targeting the Upper Shale of…

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Cnergyico Strikes Historic Deal to Import First-Ever US Oil into Pakistan

Admin
New-oil

KARACHI/SINGAPORE, Aug 1: In a landmark move, Cnergyico, Pakistan’s largest oil refiner, will import 1 million barrels of US crude oil from global energy trader Vitol this October, marking the country’s first-ever purchase of American oil, company Vice Chairman Usama Qureshi told Reuters on Friday. The cargo of West Texas Intermediate (WTI) light crude will be loaded from Houston this month and is expected to reach Karachi in the second half of October. “This is a test spot cargo under our umbrella term agreement with Vitol,” Qureshi said. “If it…

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Fake Solar Panel Importers Fined Rs111 Billion for Massive Money Laundering Scam

Admin
solar energy

KARACHI, Aug 1: In one of the largest trade-based money laundering crackdowns in Pakistan’s history, the Directorate of Customs Post Clearance Audit has imposed fines totaling Rs111 billion on 13 fake companies involved in fraudulent solar panel imports. According to Shiraz Ahmed, Director of Post Clearance Audit Karachi, the penalty was handed down by Deputy Collector Dr. Iram Zahra after it was confirmed that the companies declared bogus solar panel imports worth Rs1.2 trillion to illegally transfer funds abroad. These firms also received Rs1.4 trillion in their bank accounts, including…

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Trump Slaps 19% Tariff on Pakistani Goods Amid Global Trade Crackdown

Admin
USA-Pak

WASHINGTON, Aug 1: US President Donald Trump has imposed a 19% tariff on imports from Pakistan — revised down from a previously proposed 29% — as part of a sweeping wave of new duties on dozens of countries, following the expiration of his self-imposed tariff deadline. The announcement came just a day after a Pakistani delegation led by Finance Minister Muhammad Aurangzeb concluded a trade agreement in Washington, DC, aimed at reducing tariffs. While the deal’s specific terms remain undisclosed, Trump said the US would assist Pakistan in exploring “massive…

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