Author: Admin

ISLAMABAD: Oil & Gas Development Company Limited (OGDCL) has announced a significant oil and gas discovery from its exploratory well, Bobi Deep-1, located in the Sanghar district of Sindh, marking a major milestone in the company’s exploration efforts. In a notification submitted to the Pakistan Stock Exchange (PSX) on Wednesday, OGDCL revealed that the discovery was made within the Bobi and Dhamraki Mining Lease, where the company holds a 100 percent working interest and serves as the sole operator. According to the company, the Bobi Deep-1 well was re-entered on…

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ISLAMABAD: Pakistan’s federal budget for the upcoming fiscal year is unlikely to be presented on June 5 as previously expected, with government sources indicating that key fiscal issues remain unresolved in ongoing discussions with the International Monetary Fund (IMF). According to a government official familiar with the matter, the budget may now be unveiled on June 10, a claim also reported by local media outlets, including Geo News. The official requested anonymity as they were not authorized to speak publicly on the issue. Despite the likely postponement of the budget…

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ISLAMABAD: A devastating wildfire, believed to have been triggered by human activity, has destroyed more than 3,000 hectares of ecologically significant forest in Punjab’s Kotli Sattian region, exposing the growing vulnerability of Pakistan’s forests to climate change and extreme weather conditions. The blaze, which raged for two days across 27 locations, consumed an estimated 3,326 hectares of natural forest cover, severely damaging the area’s Chir pine forests. According to satellite imagery released by SUPARCO through Space4Climate.gov.pk, a comparison of images taken between May 9 and May 29 revealed extensive destruction…

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ISLAMABAD: Power consumers across Pakistan are likely to face an increase of approximately Rs1.74 per unit in electricity tariffs in upcoming bills after the Central Power Purchasing Agency (CPPA) sought more than Rs16 billion in additional recoveries through a higher Fuel Cost Adjustment (FCA). The request was reviewed during a public hearing conducted by the National Electric Power Regulatory Authority (Nepra), where the CPPA proposed an additional Rs1.73 per unit FCA for electricity consumed in April 2026 and billed next month. CPPA Chief Executive Officer Rehan Akhtar informed the regulator…

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WASHINGTON: The United States Trade Representative (USTR) has proposed imposing new tariffs on imports from 60 economies, including Pakistan and India, citing their alleged failure to effectively prevent the import of goods produced through forced labour. According to a government filing, the proposed duties range between 10% and 12.5% and will be subject to a public consultation process before a final decision is made. The move is part of the Trump administration’s efforts to reshape its trade policy following recent legal challenges to its tariff framework. Earlier this year, Washington…

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