Author: Admin

Cabinet Ratifies Diversion of 45 LNG Cargoes Amid Declining Gas Demand

Admin
China-LNG

ISLAMABAD: The federal cabinet has endorsed a plan to divert 45 liquefied natural gas (LNG) cargoes after a persistent decline in domestic gas consumption left Pakistan with surplus imported stock. The Economic Coordination Committee (ECC) had earlier approved the diversion, and its decision was formally presented to the cabinet, which ratified it in a recent meeting. According to sources, summaries titled “Update on Negotiation with State of Qatar for Mitigation of Surplus LNG” and “Operation of Two SNGPL-Based Urea Manufacturing Plants (Fatima Fertiliser and Agritech)” were placed before the cabinet…

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Nepra Urges End to Costly Power Burdens to Boost Industrial Competitiveness

Admin
Nepra-Price

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has called for the removal of several heavy cost burdens embedded in consumer electricity tariffs—including high technical losses, industrial taxes and surcharges, and charges linked to partial plant operations—to revive industrial output and restore the competitiveness of Pakistani products. In a detailed note to the government, issued alongside recent tariff determinations, Nepra’s Member Technical, Rafique A. Shaikh, warned that the persistent underutilisation of thermal power plants is driving up the capacity purchase price (CPP). He stressed the need to assess whether this…

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IMF Sets 11 New Structural Benchmarks for Pakistan in Latest Review

Admin
New-IMF

ISLAMABAD: The International Monetary Fund (IMF) has introduced 11 new structural benchmarks (SBs) for Pakistan as part of its latest review under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF). These benchmarks span tax reforms, governance, monetary policy, energy, state-owned enterprises, trade, and investment regulations—aimed at strengthening economic stability, transparency, and long-term fiscal sustainability. Key New Conditions Set by the IMF Tax Reforms & Fiscal Management The IMF has directed Pakistan to: The IMF noted that 8 of the 13 earlier benchmarks were met, including the…

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Discos Accused of Withholding Data, Hindering Audit Settlement: Power Division Admits Before PAC

Admin
power-division

ISLAMABAD: The Power Division on Thursday conceded that power Distribution Companies (Discos) are deliberately withholding critical data from the Auditor General, obstructing the settlement of key audit paras. Appearing before the Public Accounts Committee (PAC), chaired by Shahida Begum of JUI-F, Secretary Power Dr. Fakhre Alam Irfan responded to concerns over unresolved audit paras related to Discos for FY 2023–24. The audit report of the Power Division and its attached departments contains 579 paras — 357 from compliance audits and the remainder from other audit categories. To date, PAC has…

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IEA Cuts 2026 Oil Glut Forecast as Demand Outlook Strengthens

Admin
New-oil-2

LONDON: The International Energy Agency (IEA) has reduced its forecast for the global oil surplus in 2026 for the first time since May, citing stronger-than-expected economic conditions and lower output from sanctioned countries. The agency’s monthly oil market report shows that global supply is now expected to exceed demand by 3.84 million barrels per day (bpd) next year—down from the 4.09 million bpd surplus projected in November. Despite the revision, the nearly 4 million bpd surplus still represents around 4 percent of global demand and remains at the upper end…

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