Author: Admin

Industrialists Urge Immediate Reduction in Oil Prices Amid Economic Transformation Plan

Admin
Pakistan Petroleum Ltd makes third discovery in Sujawal

KARACHI: Industrialists have strongly criticized the recent hike in petrol and diesel prices, calling it contradictory to the government’s economic transformation agenda. They urged Prime Minister Shehbaz Sharif to intervene and roll back the increases to align with the “Uraan Pakistan” initiative. As per a notification by the finance ministry, the price of high-speed diesel (HSD) was raised by Rs2.96 per litre, reaching Rs258.34, while petrol saw a smaller hike of Rs0.56, now priced at Rs252.66 per litre. The Oil and Gas Regulatory Authority (OGRA) attributed the increase to international…

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Era of Russian Gas to Europe Ends as Ukraine Transit Stops

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natural gas prices

MOSCOW: Russian gas exports through Soviet-era pipelines via Ukraine officially ceased on New Year’s Day, marking a historic end to Moscow’s decades-long dominance over Europe’s energy supply. The gas flow, which persisted even amidst nearly three years of war, stopped at 0500 GMT after Ukraine declined to renew a transit agreement, according to Russian energy giant Gazprom. While the halt was anticipated, it contrasts sharply with the disruption in 2022 that sent European gas prices soaring, exacerbating a cost-of-living crisis and threatening the bloc’s economic competitiveness. This time, European Union…

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Govt Pushes for Energy-Efficient Building Codes to Combat Energy Crisis

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Power-Division

Islamabad: The Ministry of Energy (Power Division) has urged all provinces to implement the revised Energy Conservation Building Code-2023 (ECBC-2023) to address Pakistan’s escalating energy crisis. In a letter dated January 1, 2025, Federal Minister for Energy Sardar Awais Ahmed Khan Leghari emphasized the critical role of energy-efficient building designs in reducing the nation’s power consumption, which is predominantly driven by inefficient cooling systems in the building sector, consuming over 60% of total energy. The revised ECBC-2023, approved by the Federal Cabinet in August 2023, mandates the incorporation of energy…

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BBoIT and FPCCI to organise Balochistan Summit 2025 in January

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New-FPCCI

Karachi: Atif Ikram Sheikh, President FPCCI, has apprised that FPCCI and Balochistan Board of Investment & Trade (BBoIT) will be jointly organizing Balochistan Summit 2025 on January 27-28, 2025 in Islamabad – aimed at promoting business, investment, joint ventures industrialization and trade promotion activities in Balochistan on an international-scale. It is pertinent to note that top civilian and military leadership of the country are expected to attend the all-important Balochiatan Summit 2025 to project and position the province as the foremost investment destination of the country. Mr. Atif Ikram Sheikh…

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Pakistan Launches Ambitious “Uraan Pakistan” Initiative to Transform Economy

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Uraan-Pakistan

Islamabad, January 1, 2025 — Pakistan has officially unveiled the Uraan Pakistan initiative, an ambitious roadmap to propel the country towards becoming a $1 trillion economy by 2035 and a $3 trillion economy by 2047. Built on the transformative 5Es Framework, the initiative emphasizes five key pillars: Exports, E-Pakistan, Environment, Energy & Infrastructure, and Equity, Ethics & Empowerment. Prime Minister Shehbaz Sharif, in his address during the launch event, emphasized the importance of holistic economic reforms to unlock Pakistan’s potential. “With Uraan Pakistan, we aim to set a new trajectory…

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