Author: Admin

ISLAMABAD: Pakistan’s four major oil refineries have strongly opposed the government’s proposal to retrospectively reduce the deemed duty on high-speed diesel (HSD), arguing that such a move would unfairly penalize the industry for delays caused by the government’s own failure to implement the Pakistan Oil Refining Policy for Upgradation of Existing (Brownfield) Refineries 2023. In a joint representation submitted to the Secretary, Petroleum Division, following a meeting chaired by the Minister for Energy (Petroleum Division) on June 23, the chief executives of Attock Refinery Limited (ARL), National Refinery Limited (NRL),…

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ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has approved a salary increase, performance increments, and limited employee bonuses for the Central Power Purchasing Agency (Guarantee) Limited (CPPA-G) for the fiscal year 2025-26, while significantly trimming several of the company’s proposed operational and administrative expenditures. The decision was issued as part of NEPRA’s determination on the CPPA-G Market Operation Fee for FY2025-26. The agency had sought approval for a market operation fee of Rs14.67 per kW per month, including prior-year and miscellaneous adjustments, along with a net revenue requirement of…

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KARACHI: Pakistan Petroleum Limited (PPL) has announced that the relevant regulatory authority has granted a Development and Production Lease for the Adhi Field to the Adhi Joint Venture, according to a notice submitted to the Pakistan Stock Exchange (PSX). The lease covers an area of 212.86 square kilometres located across the Rawalpindi and Chakwal districts of Punjab, enabling the joint venture to continue the development and production of hydrocarbons from one of the country’s key oil and gas assets. Under the joint venture arrangement, Pakistan Petroleum Limited (PPL) serves as…

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ISLAMABAD: The Privatisation Commission has extended the deadline for the submission of Expressions of Interest (EOIs) from investors for the privatisation of Faisalabad Electric Supply Company (FESCO) and Gujranwala Electric Power Company (GEPCO) under the government’s Batch-I DISCOs Privatisation Programme. Under the revised schedule, EOIs for FESCO can now be submitted until August 7, 2026, while the deadline for GEPCO has been extended to August 21, 2026. The Commission clarified that the deadline for the Islamabad Electric Supply Company (IESCO) remains unchanged, with EOIs due by September 7, 2026. According…

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ISLAMABAD: The federal government has doubled the Climate Support Levy (CSL) on petrol and high-speed diesel (HSD) from Rs. 2.50 per litre to Rs. 5 per litre, effective July 1, 2026, under the Finance Act 2026 as part of Pakistan’s fiscal reforms and commitments under the International Monetary Fund (IMF) programme. According to an official notification, the revised Climate Support Levy came into force on July 1. To prevent any immediate increase in fuel prices, the government simultaneously reduced the Petroleum Levy (PL) on both petroleum products. The Petroleum Levy…

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