Author: Admin

Auto Industry Raises Alarm Over REEV Duty Classification, Warns of Market Distortion

Admin
electric-vehicles

Karachi: Pakistan’s auto industry has expressed serious concerns following a recent decision by the Customs Classification Committee to classify range-extended electric vehicles (REEVs) as battery electric vehicles (BEVs), warning that the move could distort the market and undermine local assembly operations. The committee placed REEVs — essentially series hybrid vehicles — under HS Code 8703.8090, the same category as BEVs, on the basis that propulsion is provided solely by an electric motor, while the onboard internal combustion engine (ICE) functions only as a generator. However, the Pakistan Automotive Manufacturers Association…

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Growatt Hosts Prestigious Iftar Dinner at Karachi Club, Uniting Energy Sector Leaders

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New-Project73

Karachi: The Karachi Club witnessed a remarkable gathering on February 23, 2026, as Growatt hosted an elegant Iftar Dinner that brought together prominent stakeholders from Pakistan’s energy sector under one roof. The event was attended by distinguished government officials, leaders from private organizations, and key delegates representing various segments of the energy industry. The evening provided a valuable opportunity for networking and collaboration, with participants engaging in meaningful discussions in the spirit of Ramadan. Industry sources informed Energy Update that the success of the event was largely attributed to the…

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Pakistan, Turkmenistan discuss regional energy links

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energy links

Federal Minister for Energy (Power Division) Sardar Awais Ahmed Khan Leghari on Tuesday met Turkmenistan’s Ambassador to Pakistan, Atadjan Movlamov, with discussions focusing on regional energy connectivity and cross-border cooperation between Pakistan and Central Asia. According to an official statement, the meeting took place at the Ministry of Energy, where the minister welcomed the ambassador and exchanged greetings on the occasion of Ramazan, conveying goodwill and best wishes for peace and prosperity for the peoples of both countries. The Turkmen envoy highlighted the historical and cultural links between Pakistan and…

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OGDCL receives Rs 7.725 billion eighth installment under circular debt plan

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New-OGDCL1

Oil & Gas Development Company Limited has received Rs 7.725 billion as the eighth monthly interest installment from Power Holding (Private) Limited under the government-approved circular debt settlement mechanism. The payment forms part of a total Rs 92 billion interest amount to be repaid in 12 equal monthly installments, which began in July 2025. Each installment amounts to Rs 7.725 billion. The company said the receipt marks continued implementation of the government’s plan to address circular debt in the energy sector. 

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The loss in the form of increasing gas sector circular debt has been halted, Ali Pervaiz Malik

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Ali-pervaiz-malick

Federal Minister for Petroleum, Ali Pervaiz Malik, participated at the Pakistan Governance Forum organized by the Ministry of Planning, Development and Special Initiatives, where he highlighted the Government’s reform agenda and strategic direction for the energy sector. The Federal Minister appreciated the Planning Minister Prof Ahsan Iqbal for organizing successful forum, bringing together policymakers and stakeholders to deliberate on governance reforms. In his remarks, the Minister underscored the critical importance of an efficient, functional, and sustainable energy sector. He stated that the energy sector holds the same importance for any…

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