Author: Admin

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) is facing growing turmoil following the resignation of one of its key members amid investigations into controversial oil pricing claims, while the government moves to amend the regulator’s governing law to facilitate the appointment of civil servants to senior positions. According to sources, OGRA Member (Oil) Zainul Abideen Qureshi resigned after being questioned by the Federal Investigation Agency (FIA) in Karachi regarding payments made to an oil marketing company (OMC) under Price Differential Claims (PDCs) linked to subsidized fuel pricing introduced during…

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KARACHI: The Oil and Gas Regulatory Authority (Ogra) has granted approval to the National Refinery Limited (NRL) to export 60,000 metric tonnes of high-sulphur furnace oil (HSFO) during June 2026. According to an official notification, the decision was taken on the recommendation of the National Committee on Monitoring Committee (NCMC). The export permission is subject to the fulfilment of domestic demand in accordance with the approved refinery production and supply plan. Ogra also directed NRL to optimise its loading operations to ensure timely vessel departure within the designated shipping window.…

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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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