Author: Admin

Federal Budget 2025 – 26FPCCI Demands Withdrawal of Harsh Taxation Measures from the Finance Bill: Atif Ikram Sheikh, President FPCCI

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FPCCI

Karachi: On behalf of the entire business, industry and trade community of Pakistan, Mr. Atif Ikram Sheikh, President FPCCI, has demanded that the government should withdraw harsh and anti-business taxation measures from the Finance Bill before it is passed through the parliament. What the country needs is a pro-business, investment-friendly and growth-oriented fiscal policy framework as the economy has stabilized and poised for growth, he added. Mr. Atif Ikram Sheikh maintained that the tax collection target can only be achieved if industrialists and exporters are taken onboard through a comprehensive…

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OGDCL Announces Significant Oil and Gas Discovery at Faakir-1 Well in Khairpur, Sindh

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OGDCL

ISLAMABAD, June 12, 2025: Oil & Gas Development Company Limited (OGDCL) on Thursday announced a significant oil and gas discovery from its exploratory efforts at the Faakir-1 well, located within the Bitrisim Exploration License area in Khairpur district of Sindh. The well is operated by OGDCL with a 95% working interest, in a joint venture with Government Holdings (Private) Limited (GHPL), which holds the remaining 5% stake.Spudded on December 31, 2024, as an exploratory well, the Faakir-1 well was drilled to a total depth of 4,185 meters in the Sembar…

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Solis Celebrates 20 Years of Innovation at SNEC 2025 with Launch of Next-Gen Hybrid Inverter and AI Energy Platform

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Solis-energy

Shanghai, China – June 12, 2025 – Marking two decades of innovation, Solis, a global leader in PV inverter and energy storage technology, kicked off SNEC 2025 with a spectacular showcase featuring the world debut of its groundbreaking 125kW Wall-Mounted Hybrid Inverter and the intelligent Solis Cloud AI Smart Energy Assistant. The event, held at Hall 5.1H (Booth E680), drew an impressive crowd of solar professionals, media, and clean energy advocates eager to witness the company’s bold vision for the future. 20th Anniversary Milestone: A Vision for the Future Opening…

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OCAC Warns \$6bn Refinery Investment at Risk over GST Exemption on Petroleum

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Refineries-Urge

KARACHI: The Oil Companies Advisory Council (OCAC) has voiced strong concern over the government’s continued General Sales Tax (GST) exemption on petroleum products in the newly announced Finance Bill, warning that it endangers a planned \$6 billion investment under the Pakistan Brownfield Oil Refining Policy 2023. In a letter to the petroleum minister, the OCAC acknowledged the government’s temporary relief allowing partial recovery of GST impact through the Inland Freight Equalisation Margin (IFEM) effective May 16, 2025. However, it deemed the measure inadequate and unsustainable. The council noted that despite…

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Pakistani Energy Consortium Inks Landmark Offshore Deal with ADNOC

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Energy-ADNOC

ISLAMABAD: In a significant boost for Pakistan’s energy sector, a consortium of major Pakistani oil and gas exploration firms has signed a landmark Production Concession Agreement (PCA) with the Abu Dhabi National Oil Company (ADNOC) for offshore hydrocarbon development in the United Arab Emirates (UAE). Mari Energies Limited (MARI) informed the Pakistan Stock Exchange (PSX) that the agreement pertains to Offshore Block 5, located 100 kilometres northeast of Abu Dhabi and spanning 6,223 square kilometres. The PCA was executed with the Supreme Council for Financial and Economic Affairs (SCFEA), ADNOC…

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