Author: Admin

Finance Minister Flags Rs6trn SOE Losses, Announces Privatisation Drive

Admin
Muhammad-Aurangzeb

ISLAMABAD: Finance Minister Muhammad Aurangzeb on Tuesday expressed alarm over government data showing state-owned enterprises (SOEs) have incurred losses nearing Rs6 trillion, vowing to privatise eight entities within the year as part of broader reforms. Speaking in the Senate on a calling attention notice, Aurangzeb said the Biannual Performance Report from the Finance Division revealed SOE losses of Rs5.89 trillion in the first half of FY2024-25. “This is alarming indeed,” he said, noting that last year’s national revenue stood at Rs12 trillion — meaning nearly half was wiped out by…

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OPEC Raises 2026 Oil Demand Forecast, Signals Tighter Market Ahead

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New-OPEC

LONDON: The Organisation of the Petroleum Exporting Countries (OPEC) has raised its global oil demand forecast for 2026 while lowering its projection for supply growth from the United States and other non-OPEC+ producers, pointing to a potentially tighter market. In its latest monthly report, OPEC said it now expects world oil demand to rise by 1.38 million barrels per day (bpd) next year — an upward revision of 100,000 bpd from its previous estimate — while leaving its 2025 demand outlook unchanged. The group also slightly upgraded its forecast for…

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OICCI Urges Scaled-Up Climate Finance, Greater Private Sector Role in Resilience

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OICCI-Project

KARACHI: The Overseas Investors Chamber of Commerce and Industry (OICCI) has called for urgent mobilisation of large-scale climate finance, stressing that the private sector must play a central role in strengthening Pakistan’s climate resilience. The appeal came at the launch of OICCI’s 3rd Pakistan Climate Conference Report, “Creating an Enabling Environment for Private Sector Participation in Climate Resilience.” Despite contributing less than 0.9% to global greenhouse gas emissions, Pakistan ranks first on the Climate Risk Index 2025 and continues to face disproportionate impacts. In 2022 alone, climate-induced disasters caused over…

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Pakistan Hails IWT Ruling as Victory in Water Dispute with India

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Pak-Ind

ISLAMABAD: Pakistan has welcomed an international court ruling directing India to strictly follow the Indus Waters Treaty (IWT) in the design of hydroelectric power projects on rivers allocated to Pakistan, calling it a clear endorsement of Islamabad’s stance. The Hague-based Permanent Court of Arbitration (PCA), in a decision posted Monday, affirmed its jurisdiction over the dispute and ruled that India’s projects on the Western Rivers must conform “strictly” to the treaty’s technical specifications, rather than to ideal engineering practices. Pakistan’s Attorney General Mansoor Usman said the verdict largely upheld Pakistan’s…

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Nepra Slaps Rs95m Fine on Sepco, Hesco Over Losses, Poor Recoveries, and Safety Lapses

Admin
New-NEPRA

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has imposed a combined fine of Rs95 million on two Sindh-based power distribution companies — Sukkur Electric Power Company (Sepco) and Hyderabad Electric Supply Company (Hesco) — for exceeding transmission and distribution (T\&D) loss targets, weak recovery performance, and safety violations. Sepco was fined Rs50 million for failing to curb T\&D losses and improve recoveries during FY24, while Hesco faced a Rs25 million penalty for similar shortcomings. In addition, Nepra levied two separate fines of Rs10 million each on Sepco for failing…

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