Author: Admin

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) and Petroleum Division have identified weaknesses in the LPG pricing formula and policy framework, saying the mechanism has contributed to significant differences between notified and actual market prices. According to officials, the main issue is the exclusion of import parity from the existing LPG pricing formula. A policy revision considered necessary since 2023 remains pending. The Petroleum Division told the National Price Monitoring Committee (NPMC) that a pricing framework originally designed for domestic LPG producers was later applied to importers, creating market…

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ISLAMABAD: Power Minister Awais Leghari has said the government is working to introduce a virtual grid system that will allow electricity consumers to generate and store power. Regulations for virtual grids are already under preparation and are expected to be finalised by the last quarter of the current fiscal year. The government has also directed power distribution companies (Discos) to install battery storage systems on their grids as part of efforts to strengthen the power system and promote energy storage. Leghari said a “battery revolution” was coming to Pakistan, with…

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KARACHI: Petroleum dealers have urged the government to establish a clear and timely mechanism for reimbursing the Rs100 per litre fuel subsidy under the PM Special Relief Scheme. Pakistan Petroleum Dealers Association (PPDA) Chairman Malik Khuda Bakhsh welcomed the relief package but warned that dealers cannot afford to absorb the subsidy or wait for prolonged reimbursements. Under the scheme: Dealers said they remain unclear about whether the Petroleum Division, Finance Ministry or State Bank will release the reimbursement and how quickly payments will be made. PPDA representatives warned that delayed…

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ISLAMABAD: Prime Minister Shehbaz Sharif has directed authorities to establish facilitation desks at petrol stations to help eligible citizens register for and receive fuel subsidies under the PM Special Relief Scheme. The nationwide scheme, including AJK and Gilgit-Baltistan, covers owners of motorcycles, rickshaws and vehicles up to 800cc. Facilitation desks will be staffed by administration officials, volunteers and petrol station personnel to guide applicants through registration and other requirements. Registration requires only four details: CNIC number, vehicle number plate, province of registration and vehicle registration date. The government has also…

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