Author: Admin

Oil Prices Plunge 6% Amid Israel-Iran Ceasefire Hopes

Admin
oil-Price

NEW YORK: Oil prices tumbled 6% on Tuesday, hitting two-week lows as hopes for a sustained ceasefire between Israel and Iran eased concerns over potential supply disruptions in the Middle East. Brent crude futures dropped \$4.34, or 6.1%, to close at \$67.14 per barrel—its lowest since June 10. Meanwhile, US West Texas Intermediate (WTI) crude slipped \$4.14, or 6.0%, settling at \$64.37 per barrel, marking its weakest level since June 5. The market reacted to news of the ceasefire, despite US President Donald Trump warning that both Israel and Iran…

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National Assembly Approves Rs715.45 Billion Energy Sector Budget Amid Heated Debate

Admin
National-Assembly

ISLAMABAD: The National Assembly on Tuesday approved a total allocation of Rs715.45 billion for the energy sector for the fiscal year ending June 30, 2026, with the Power Division receiving the bulk—Rs636.9 billion—for operational expenditures. Development allocations include Rs2.39 billion for the Power Division and Rs72.1 billion in external development loans for power projects. The Petroleum Division will receive Rs2.17 billion, and the Geological Survey of Pakistan Rs1.15 billion. Additionally, Rs718.6 million was earmarked for capital outlay in the petroleum sector. Concluding the debate, Federal Minister for Power Awais Leghari…

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PM Shehbaz, Chinese Envoy Reaffirm Commitment to CPEC and Regional Cooperation

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CPEC-Projects

ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday reaffirmed Pakistan’s unwavering commitment to the China-Pakistan Economic Corridor (CPEC), calling it the cornerstone of the enduring strategic partnership between Islamabad and Beijing. During a meeting with Chinese Ambassador Jiang Zaidong, the premier emphasized the timely execution of key infrastructure projects, including the Main Line-1 (ML-1) railway upgrade, the Karakoram Highway expansion, and the further development of Gwadar Port. According to a statement from the Prime Minister’s Office, discussions also covered enhanced bilateral cooperation in agriculture, industry, and information technology. Prime Minister Sharif…

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NEPRA Mulls 10-Paisa Per Unit Power Tariff Increase for May 2025

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New-NEPRA

ISLAMABAD: Electricity consumers across Pakistan—excluding K-Electric (KE) and lifeline users—may see a 10-paisa per unit hike in power tariffs under the Fuel Charges Adjustment (FCA) for May 2025. The National Electric Power Regulatory Authority (NEPRA) will hold a public hearing on June 30, 2025, at NEPRA Tower, Islamabad, to review the proposed Rs0.1015/kWh increase. The session will also be accessible via Zoom for wider public participation. The Central Power Purchasing Agency Guarantee Limited (CPPA-G), on behalf of Ex-WAPDA Distribution Companies (XWDISCOs), submitted the proposal, citing a fuel cost of Rs7.4940/kWh…

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NEPRA Serves Show-Cause Notice to K-Electric Over Unfair Load-Shedding Practices

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Nepra-Price

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has issued a show-cause notice to K-Electric (KE) for failing to comply with its directives on forced load-shedding, accusing the utility of violating the NEPRA Act and the Performance Standards (Distribution) Rules, 2005. NEPRA stated that KE has been carrying out load-shedding based on Aggregate Technical and Commercial (AT\&C) losses, resulting in entire feeders being shut down—even where some consumers are fully compliant and pay their bills on time. “This practice is unjust to law-abiding consumers,” the authority noted. According to regulations,…

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