Author: Admin

ISLAMABAD: Pakistan has launched an international investment campaign to attract foreign investors for the privatization of three major power distribution companies (DISCOs)—Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO), and Gujranwala Electric Power Company (GEPCO). However, concerns over delayed payments to Chinese Independent Power Producers (IPPs) under the China-Pakistan Economic Corridor (CPEC) are expected to dominate discussions with prospective investors. A high-level delegation led by the Prime Minister’s Adviser on Privatisation, Muhammad Ali, has begun the outreach initiative with a visit to Türkiye and is scheduled to continue…

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ISLAMABAD: The federal government has reconstituted the Board of Directors of Pak-Arab Refinery Company (PARCO), retaining a federal minister and most of the existing bureaucrat-directors for another three-year term despite ongoing debates over governance reforms and board appointments in state-linked enterprises. Under the new board composition approved by the federal cabinet, Pakistan has nominated six directors, while the remaining four seats are held by representatives of the United Arab Emirates, which owns a 40% stake in the company. Of the six Pakistani nominees, five existing directors have been reappointed, with…

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LAHORE: Federal Minister for Petroleum Ali Pervaiz Malik has said that Pakistan is actively considering the import of cheaper crude oil and natural gas from Iran as part of the government’s efforts to reduce the country’s energy import bill and provide relief to consumers. Speaking to the media in Lahore on Sunday, the minister said the government was exploring the possibility of sourcing discounted Iranian crude oil following the temporary easing of US sanctions on Tehran. He noted that the government remained committed to lowering energy costs and ensuring affordable…

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ISLAMABAD: Pakistan and Türkiye have signed three Memoranda of Understanding (MoUs) aimed at expanding bilateral cooperation in the energy sector, marking a significant step towards enhancing technical collaboration and institutional partnerships between the two countries. The agreements were signed during high-level energy consultations held in Istanbul on June 25, 2026, reflecting the shared commitment of both nations to promote knowledge exchange, strengthen institutional capacity, and modernize Pakistan’s power sector. The MoUs were signed between the Independent System and Market Operator (ISMO) and Energy Exchange Istanbul (EPIAS), ISMO and the Turkish…

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ISLAMABAD: Federal Minister for Petroleum Ali Pervaiz Malik has defended the government’s petroleum pricing mechanism, reiterating that no sector is being favoured and that any relief from declining international oil prices will be passed on to consumers while adhering to Pakistan’s international commitments. In a statement posted on social media platform X on Saturday, the minister shared the latest international Platts benchmark prices for petrol and high-speed diesel (HSD), highlighting continued fluctuations in global refined fuel markets. According to the data, petrol prices ranged between $90.36 and $98.35 per barrel…

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