Author: Admin

Govt Cuts Circular Debt by Rs9bn in Six Months, Energy Ministry Tells National Assembly

Admin
National-Assembly

ISLAMABAD: The Ministry of Energy informed the National Assembly on Friday that Pakistan’s circular debt has decreased by Rs9 billion in the first half of the current fiscal year, attributing the improvement to the government’s targeted reforms. In a written response to the House, the ministry reported that circular debt stood at Rs2,393 billion as of June 2024, and had reduced to Rs2,384 billion by December. It credited improved recovery rates from power distribution companies (Discos) and implementation of strategic reforms for the progress. As part of its 2025–2029 roadmap,…

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Petrol, Diesel Prices Expected to Drop by Rs10 per Litre Amid Global Oil Decline

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petrol-price

ISLAMABAD: Consumers in Pakistan may receive a much-needed reprieve as petrol and diesel prices are expected to decrease by approximately Rs10 per litre for the upcoming fortnight ending April 30, driven by a drop in international oil prices. This potential reduction is contingent on the government maintaining current tax rates. However, officials indicate that the government may limit the decline to prevent a sharp rise in demand. At the same time, local refineries are lobbying for the reintroduction of General Sales Tax (GST) on petroleum products. Sources report that the…

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Inverex Leads Pakistan’s Green Revolution with Electric Vehicles and Next-Gen Solar Innovations

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New-Project61

Inverex, a frontrunner in Pakistan’s solar energy sector, is making a groundbreaking leap into the electric vehicle (EV) market—becoming the first Pakistani solar company to do so. This strategic move reinforces Inverex’s mission to promote clean energy and reduce the country’s dependence on fossil fuels. The landmark announcement was made during an exclusive event in Kuala Lumpur, Malaysia, where Inverex unveiled its latest innovations to a packed audience of clean energy stakeholders, including Pakistani dealers, installers, contractors, and renewable energy advocates. The company showcased a wide range of cutting-edge products…

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Pakistan, World Bank Discuss $400m Investment in Power Transmission, Long-Term Energy Reforms

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world-bank

ISLAMABAD: Pakistan and the World Bank have initiated discussions on a transformative $400 million investment in reactive power compensation as part of a broader 10-year transmission partnership, aiming to revamp the country’s energy infrastructure with sustainable, market-driven reforms. Federal Minister for Power Sardar Awais Khan Leghari, in a meeting with World Bank’s Regional Director for Infrastructure, Pankaj Gupta, outlined the government’s strategy to move away from uniform tariffs and improve transparency through major system upgrades in power distribution and transmission. He reaffirmed Pakistan’s commitment to sustainable energy reforms under a…

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Petroleum Division Raises Concerns Over Rs10 PL Hike on Fuel

Admin
Petrol-Diesel

ISLAMABAD: The Petroleum Division has voiced strong reservations over the recent decision to hike the petroleum levy (PL) on motor spirit (MS) and high-speed diesel (HSD) by Rs10 per litre—raising the total levy to Rs70 per litre—as part of a plan to reduce electricity tariffs. Sources told Business Recorder that the increase, which aims to generate Rs58.6 billion to lower power tariffs by Rs1.71 per unit, is being seen as an unfair burden on the petroleum sector. The Petroleum Division formally conveyed its objections to the Power Division on April…

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