Author: Admin

UK Appreciates Pakistan’s Mediation Efforts, Energy Cooperation Discussed

Admin
New-Project13

Federal Minister for Petroleum Ali Pervaiz Malik held a meeting with H.E. Ms. Jane Marriott, High Commissioner of the United Kingdom to Pakistan, to discuss the evolving regional situation, its implications for global energy markets, and avenues for strengthening bilateral cooperation in Pakistan’s energy and minerals sectors.During the meeting, both sides exchanged views on the regional crisis and its impact on petroleum supply chains, price volatility, and overall energy security. The High Commissioner appreciated Pakistan’s constructive diplomatic role and thanked for its mediation efforts aimed at easing tensions and promoting…

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PM Shehbaz Calls for Nationwide Shift to EVs to Reduce Fuel Costs and Save Foreign Exchange

Admin
electric-vehicles

ISLAMABAD: Prime Minister Shehbaz Sharif has called for the widespread adoption of electric vehicles (EVs) across Pakistan, highlighting their potential to reduce fuel imports and conserve valuable foreign exchange reserves amid rising global oil prices. Speaking at a ceremony marking the provision of eco-smart EVs to the Islamabad Capital Traffic Police, the prime minister emphasised that such energy-efficient initiatives should be replicated by all provinces and law enforcement agencies. He noted that the Ministry of Interior had provided an initial fleet of 15 electric vehicles, which operate entirely on battery…

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IAEA Warns Strikes Near Iran’s Bushehr Nuclear Plant Risk Major Radiological Disaster

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New-IAEA

VIENNA: The head of the International Atomic Energy Agency has issued a strong warning against continued strikes near Iran’s Bushehr Nuclear Power Plant, calling them a serious threat to nuclear safety and regional stability. IAEA Director General Rafael Grossi said attacks near the operational facility “pose a very real danger” and must cease immediately, cautioning that any damage could trigger a severe radiological accident with far-reaching consequences for both human health and the environment. The Bushehr plant, located in southern Iran and equipped with a 1,000-megawatt reactor, has reportedly been…

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IMF Links NAB Chief Appointment to Transparent, Inclusive Selection Process

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New-IMF

ISLAMABAD: The International Monetary Fund has introduced a new condition requiring Pakistan to reform the appointment process of the National Accountability Bureau chairman, mandating a transparent and inclusive mechanism with representation from opposition parties. According to government sources, Pakistan has assured the IMF that it will strengthen NAB’s autonomy and credibility by adopting a merit-based, open, and competitive selection process. The proposed reforms include establishing a multi-stakeholder commission comprising representatives from the government, opposition, judiciary, civil service, academia, and civil society to oversee the appointment. The changes, which require amendments…

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Oil Industry Rejects ‘Guaranteed Return’ Model, Warns of Fiscal Risks and Market Distortions

Admin
New-oil

ISLAMABAD: Pakistan’s oil industry has firmly opposed proposals to replace the existing fuel pricing mechanism with a guaranteed return model, cautioning that such a shift would effectively require year-round government subsidies and strain public finances. Industry stakeholders argue that the current pricing framework—linked to international benchmarks—is globally accepted and ensures alignment with market dynamics. They warn that abandoning this system in favour of guaranteed returns would reverse reform efforts and create unsustainable fiscal liabilities, particularly in light of guidance from institutions like the International Monetary Fund, which discourages open-ended subsidy…

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