Author: Admin

Govt Seeks IMF Nod for Flood-Hit Consumers’ Power Relief Package

Admin
Shabaz-IMF

ISLAMABAD: The government has approached the International Monetary Fund (IMF) to secure approval for a special electricity bill relief package for consumers in flood-affected areas, with Prime Minister Shehbaz Sharif expected to formally announce the measure in the coming days. During a briefing to the National Assembly Standing Committee on Power on Wednesday, Secretary Power Dr Fakhray Alam Irfan said the IMF requires detailed data before approving any proposal. He confirmed that a one-month waiver of electricity bills for August 2025 has already been announced, while surveys are underway to…

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Power Tariff Likely to Rise by Rs0.91 per Unit on August Fuel Adjustment

Admin
New-NEPRA

ISLAMABAD: Electricity consumers may see their bills increase by up to Rs0.91 per unit as the National Electric Power Regulatory Authority (NEPRA) considers a fuel cost adjustment (FCA) for August 2025. NEPRA has scheduled a public hearing on September 29 on a petition filed by the Central Power Purchasing Agency–Guarantee Limited (CPPA-G), which has sought an upward adjustment of Rs0.1911 per kilowatt-hour (kWh) over the reference fuel price due to higher generation costs. According to CPPA-G’s filing, the average fuel cost of electricity generation stood at Rs7.5059/kWh, compared with the…

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Pakistan, Saudi Arabia Sign Landmark Mutual Defense Pact

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Pak-Saudi

ISLAMABAD: Pakistan and Saudi Arabia on Wednesday signed a historic Strategic Mutual Defense Agreement, pledging that any aggression against either country would be considered aggression against both, according to a joint statement issued in Riyadh. The agreement was signed during Prime Minister Shehbaz Sharif’s official visit to the Kingdom at the invitation of Saudi Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz Al Saud. “Building on the historic partnership extending nearly eight decades, and rooted in bonds of brotherhood, Islamic solidarity, and shared strategic interests, both leaders signed…

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Pakistan Must Act Fast to Unlock \$8bn Mining Potential

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National-Resources

KARACHI: Pakistan’s mining sector holds the key to transforming the national economy, with the potential to boost annual revenues from the current \$2 billion to as high as \$6–8 billion by 2030, if the country harnesses its vast untapped mineral reserves. Speaking at the Natural Resources and Energy Summit 2025 on Wednesday, Shamsuddin A. Shaikh, CEO of National Resources Ltd (NRL), underlined that Pakistan sits on one of the world’s richest mineral belts yet contributes only 0.15% to global mineral output and 2–3% to national GDP. Of the 92 known…

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Oil edges down as investors assess Russia supply risks

Admin
Oil price

LONDON: Oil prices eased on Wednesday, after rising more than 1% in the previous session, as investors assessed Russian supply risks following Ukrainian drone attacks on energy infrastructure. Brent crude futures were down 27 cents, or 0.4%, to $68.20 a barrel by 1249 GMT, while U.S. West Texas Intermediate crude futures were down 31 cents, or around 0.5%, to $64.21 a barrel. The benchmarks settled more than 1% higher in the last trading session due to concerns that Russian supplies may be disrupted by Ukrainian attacks. Russia’s oil pipeline monopoly Transneft had…

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