Author: Admin

ISLAMABAD: Pakistan has provided written assurances to the International Monetary Fund (IMF) that it will phase out the existing electricity subsidy system for consumers using up to 200 units and replace it with a targeted subsidy mechanism from January 2027. Under the proposed framework, subsidies for low-income electricity consumers will be channelled through the Benazir Income Support Programme (BISP) using data from the National Socio-Economic Registry (NSER). The move is aimed at preventing misuse of subsidised electricity tariffs and ensuring that financial assistance reaches deserving households. The decision is expected…

ISLAMABAD: In an effort to tighten control over fuel imports and reduce pressure on Pakistan’s external account, the federal government has barred private oil marketing companies (OMCs) from importing high-speed diesel (HSD), allowing only state-owned Pakistan State Oil (PSO) to continue diesel procurement. The decision was taken during a recent meeting of the National Coordination and Management Council (NCMC), effectively centralising HSD imports under PSO. Officials said the restriction would remain in place until stability returns to the Middle East, where ongoing tensions have contributed to volatility in global oil…

KARACHI: The Oil and Gas Regulatory Authority (Ogra) has directed oil marketing companies (OMCs) to submit complete data and supporting documentation related to price differential claims (PDCs) within 10 days to facilitate timely reimbursement and improve transparency in the settlement process. In a circular issued to OMCs operating across the country, the regulator stated that expeditious settlement of PDCs requires evidence-based scrutiny and verification. Ogra stressed that companies must comply with the prescribed mechanism in both letter and spirit and ensure that all claims are submitted with the required supporting…

KARACHI: In a major step towards industrial energy self-reliance and sustainability, HubSalt has signed a landmark agreement with Chinese technology firm Livoltec to deploy a hybrid solar and battery energy storage system (BESS) at its operations in Pakistan. The agreement was signed in Karachi by HubSalt CEO Ismail Sattar and Livoltec Asia-Pacific Director Max Ma. The project will be executed on an Engineering, Procurement and Construction (EPC) basis by Optimizen in collaboration with its Chinese partner Livoltec. The initiative includes the installation of a 1.44-megawatt solar photovoltaic (PV) system integrated…