Author: Admin

IMF Open to Reviewing Pakistan’s Power Tariff Cut Plan, Says PM Shehbaz

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pak-imf

ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday assured that concerns over the International Monetary Fund (IMF) rejecting Pakistan’s proposal to lower electricity prices have been addressed. Speaking at a federal cabinet meeting, he revealed that IMF Managing Director Kristalina Georgieva expressed willingness to consider Pakistan’s power tariff reduction plan if formally presented. During his recent visit to Dubai, the prime minister discussed economic and investment opportunities with UAE President Sheikh Mohamed bin Zayed Al Nahyan, accompanied by Army Chief General Syed Asim Munir. He also met the IMF chief, highlighting…

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Nepra Notifies Rs1.23 Per Unit Refund, Grills Discos Over Security Deposit Hike

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NEPRA-KE

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has approved a Rs1.23 per unit negative fuel cost adjustment (FCA) for consumers of ex-Wapda distribution companies (Discos) and K-Electric (KE) in their current month’s electricity bills. For Discos, the negative FCA applies to electricity consumed in December, while for KE, it corresponds to consumption in November. However, Nepra’s Member Tariff Mathar Niaz Rana criticized the Rs1.23 per unit adjustment for KE, arguing that the company initially proposed a Rs4.98 per unit refund amounting to Rs7.18 billion. Nepra had calculated an FCA…

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European LNG prices are reaching levels that will hit demand, says Vitol

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LNG prices

NEW DELHI: European prices of liquefied natural gas (LNG) are reaching levels that will start hurting demand, commodities trading firm Vitol’s Chief Executive Russell Hardy said on Wednesday at the India Energy Week conference in New Delhi. Global LNG: Asia spot prices gain amid Russia-Ukraine gas transit concerns He added that he does not see new policies in top producer the United States leading to major change in anticipated LNG supply capacity growth through 2028.

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Russia says it fully complied with OPEC+ oil deal in January

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Russia

MOSCOW: Russia was in full compliance with the OPEC+ deal to restrain oil production in January and plans to do so this month, Deputy Prime Minister Alexander Novak told reporters on Wednesday. He also said that Russia planned to keep steady or increase oil refining throughput this year. Russia processed 266.5 million metric tons (5.33 million barrels per day) of oil in 2024. Russia has frequently exceeded its output quota of 8.98 million bpd under a pact among the OPEC+ group, which includes the Organization of the Petroleum Exporting Countries…

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Turkish President Erdogan Arrives in Pakistan for Strategic Talks

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Pakistan-Turkiye

ISLAMABAD: Turkish President Recep Tayyip Erdogan is set to arrive in Islamabad today for a two-day official visit at the invitation of Prime Minister Shehbaz Sharif. He will be accompanied by a high-level delegation, including ministers, senior officials, and business leaders, according to the Foreign Office. A key highlight of the visit will be the 7th Session of the Pakistan-Turkiye High-Level Strategic Cooperation Council (HLSCC), which President Erdogan and Prime Minister Shehbaz Sharif will co-chair. The session is expected to conclude with the signing of a Joint Declaration and multiple…

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