Author: Admin

Gas and Oil Price Hikes Severely Impact Exports, Warns FPCCI Vice President

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OGRA-GAS

KARACHI: Amaan Pracha, Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has warned that the recent surge in gas tariffs and oil prices is severely damaging Pakistan’s export competitiveness and industrial stability. Speaking to the media at the FPCCI, Pracha expressed deep concern over the government’s decision to raise gas prices for industries despite repeated requests from the business community for a reduction. “This move makes Pakistan more expensive compared to regional competitors, discouraging exports instead of promoting them,” he stated. He noted that the…

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NEPRA Reduces Basic Power Tariff by Rs1.15 Per Unit to Ease Consumer Burden

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Power-Tariff

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has announced a reduction of Rs1.15 per unit in the basic electricity tariff, providing much-needed relief to domestic consumers using between 100 to 500 units per month. According to a notification issued by NEPRA and forwarded to the federal government for final approval, the revised national tariff structure sets the maximum rate for domestic consumers at Rs47.69 per unit. The tariff for lifeline consumers—those using up to 50 units monthly—remains unchanged at Rs3.95 per unit, while those consuming 51 to 100 units…

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OCAC Warns New Levies Will Hike Furnace Oil Prices by 80%, Threaten Industry Viability

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New-Oil1

ISLAMABAD: The Oil Companies Advisory Council (OCAC) has raised alarm over new government-imposed levies on furnace oil, warning that the resulting price hike—exceeding 80%—could cripple key industries, independent power producers (IPPs), and the shipping sector. In a letter to the Special Investment Facilitation Council (SIFC), OCAC Chairman Adil Khattak strongly protested the imposition of a petroleum levy of Rs82,077 per metric ton and a Climate Support Levy of Rs2,665 per metric ton under the Finance Act 2025. These levies took effect from July 1, 2025. Khattak called the move “a…

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Senate Slams Power Division Over Loadshedding, Circular Debt, and IPP Contracts

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IPPs-Project

ISLAMABAD: The Senate Standing Committee on Power voiced strong criticism on Wednesday over ongoing power outages despite surplus electricity, the unchecked rise in circular debt, and the increasing financial burden on consumers. Chairing the meeting, Senator Mohsin Aziz expressed dismay at the absence of Power Minister Sardar Awais Leghari, who was expected to address critical issues—particularly the controversial contracts with independent power producers (IPPs), which Aziz labelled as unfair to the public. Senator Shibli Faraz accused the Power Division of inefficiency and blamed it for passing inflated project costs and…

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Oil Sector Warns Furnace Oil Levy Will Devastate Industry, Urges Govt to Withdraw

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Refineries-Urge

KARACHI: The oil industry has raised alarm over the imposition of a hefty petroleum levy (PL) of Rs82,077 per metric tonne on Furnace Oil (FO), effective July 1 under the Finance Act, warning of severe economic consequences. In a letter to the Special Investment Facilitation Council (SIFC), the Oil Companies Advisory Council (OCAC) expressed grave concerns about the PL, coupled with an existing Climate Support Levy (CSL) of Rs2,665 per metric tonne. The OCAC warned that the combined burden could lead to an 80% surge in FO prices, crippling domestic…

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