Author: Admin

Oil marketing companies warn of collapse over forced refinery quotas

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Petrol-oil

• Reject ‘Take or Pay’ clause, say it benefits refineries at their expense• Move comes as fuel prices expected to see major cut this weekend• Under new rule, OMCs must buy assigned fuel quotas from refineries or pay penalties• Clause aimed at reducing imports, protecting local refining capacity ISLAMABAD: Indicating a substantial cut in prices of petroleum prices by this weekend, the oil marketing companies (OMCs) have opposed the forced signing of ‘Take or Pay’ agreements with local refineries, arguing that the clause would unfairly burden them with financial risks.…

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17th CSR Summit & Awards-2025

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17th-csr

Sindh govt soon to launch E-commerce platforms for rural female artisans: Women Development Minister Shaheena Sher Ali Karachi The Sindh government’s Women Development Department will soon launch an E-commerce website and smartphone application to enable craftswomen and female artisans from rural and deprived areas of the province to connect with prospective buyers in the international market.Sindh Women Development Minister Shaheena Sher Ali stated this while speaking as the chief guest at the 17th CSR Summit & Awards-2025 organised by the National Forum for Environment & Health (NFEH). The Women Development…

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New Petroleum, Privatization Ministers Appointed

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New-Project49

Ali Pervaiz Malik, formerly a junior finance minister, will now lead the petroleum ministry, with a key task of overseeing a major transaction in the Reko Diq copper and gold project.¹ This project is a significant undertaking, with Barrick Gold, which owns 50% of the project, working with railway authorities to revamp Port Qasim’s coal terminal for copper transport. Meanwhile, Muhammad Ali has taken over as adviser for privatization, a role that will focus on privatizing state-owned enterprises, including the debt-ridden airline PIA. This effort is essential for raising funds…

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PAGE Foundation Partners with PARCO Gunvor Limited to Champion Girls’ Education

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Total-Parco1

PAGE Foundation is proud to collaborate with PARCO Gunvor Limited (formerly Total PARCO Pakistan Ltd.) in advancing girls’ education and educational equity across Pakistan. Through mentorship, capacity building, and impactful initiatives focused on road safety and environmental stewardship, this partnership aims to create a meaningful, lasting impact on the lives of young girls. On International Women’s Day, PAGE Foundation marked a significant milestone by signing an MOU with Mr. Asif Iqbal, CEO of PARCO Gunvor Limited, reinforcing our shared commitment to breaking barriers and fostering inclusivity. Together, we are shaping…

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IMF Talks: Pakistan to Reduce Net Metering Rates by 63%

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Net-Metering

The government has proposed a significant cut in the rate at which electricity is purchased from net metering users, from Rs27 per unit to Rs10 per unit, a reduction of Rs17 per unit.¹ This proposal was shared during ongoing talks with an International Monetary Fund (IMF) mission. The net metering system allows consumers who generate their own electricity, typically through solar panels, to sell excess power back to the grid. This not only reduces their electricity bills but also encourages the use of renewable energy sources. However, the IMF has…

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