Author: Admin

Islamabad: Federal Minister for Petroleum, Ali Pervaiz Malik, has clarified that the recent revision in the diesel pricing formula was not made under any pressure, but resulted from a “voluntary” agreement between the Petroleum Division and local refineries. Speaking on the development, the minister said the interim pricing formula was devised after thorough consultations with a research team. He emphasized that the move is part of broader efforts to upgrade Pakistan’s refining sector and gradually transition towards full deregulation. Malik highlighted that the revised formula aims to ensure fair and…

Read More

Islamabad: The National Electric Power Regulatory Authority (NEPRA) has approved the Distribution Investment Plan (DIP) 2025–30 of Gujranwala Electric Power Company (GEPCO), introducing annual and mid-term “reopener” provisions to ensure flexibility and need-based investment decisions amid evolving power sector dynamics. During the hearing, GEPCO maintained that the proposed privatization of power distribution companies (DISCOs), including itself, remains a policy matter within the government’s domain. The utility stated that the DIP has been developed on a “going concern” basis, following prudent planning principles and established practices both locally and internationally. The…

Read More

Islamabad: The government has constituted two high-level committees following the emergence of a massive Rs120 billion solar panel over-invoicing scandal, as concerns grow over financial irregularities and governance failures within the system. According to official details, a seven-member monitoring committee has been established under the leadership of Secretary Establishment Division Nabil Awan. This committee will oversee the overall progress and coordination of the inquiry process. In parallel, a second committee has been formed to supervise investigation and prosecution efforts, headed by Director General Customs Intelligence, Rubab Sikandar. This body will…

Read More

ISLAMABAD: The Power Division has formally urged the National Electric Power Regulatory Authority (Nepra) to abolish the licence requirement and associated fee for solar consumers with systems up to 25 kilowatts, in a move aimed at easing public concerns and promoting renewable energy adoption. The directive, issued on the instructions of Federal Power Minister Awais Leghari, calls for the removal of application fees and restoration of the earlier regulatory framework that exempted small-scale solar users from licensing requirements. In its statement, the Power Division noted that under the 2015 distributed…

Read More

ISLAMABAD: The International Monetary Fund (IMF) will convene its Executive Board on May 8 to consider the approval of over $1.2 billion in funding for Pakistan under two ongoing programmes — the $7 billion Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF). According to IMF officials, Pakistan has qualified for approximately $1 billion following the successful completion of the third review under the EFF, along with about $210 million under the second review of the RSF. A staff-level agreement (SLA) for the disbursement was reached on March…

Read More