Author: Admin

Oil rises to 7-week high on US-China trade deal

Admin
Oil price

LONDON: Oil prices rose to their highest in seven weeks on Wednesday as U.S. President Donald Trump said a deal had been done with China, heightening expectations of a de-escalation in trade tensions between the world’s two largest economies. Brent crude futures were up $1.15, or 1.7%, to $68.02 a barrel at 1249 GMT, while U.S. West Texas Intermediate crude was up $1.31, or 2%, to $66.29. At that level, WTI reached its highest in more than two months. Trump said Beijing would supply magnets and rare earth minerals and…

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Oil & Gas Sector Achieves Key Milestones Amid Renewed Investment: Aurangzeb

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oil and gas

ISLAMABAD: Federal Finance Minister Senator Muhammad Aurangzeb announced on Tuesday that Pakistan’s oil and gas sector has witnessed substantial progress in recent years, marked by diversification, regulatory reforms, and growing foreign investment. Delivering the Budget 2025–26 speech, the minister highlighted renewed interest from international firms, particularly Turkish Petroleum, in exploration and production (E\&P) through competitive bidding — a major step forward for the onshore segment after years of stagnation. He also noted the launch of the Pakistan Offshore Exploration Bid Round 2024 — the first in over a decade —…

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Govt Proposes 10% Power Bill Surcharge to Tackle Mounting Circular Debt

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Your-Bill

ISLAMABAD: In a bid to arrest the spiraling circular debt in the power sector, the federal government has proposed a 10% surcharge on electricity bills, a move tied to its ongoing reform commitments under the IMF programme. Announced by Finance Minister Muhammad Aurangzeb during the budget speech, the surcharge—termed the Debt Servicing Surcharge (DSS)—will be used solely for the repayment of principal debt, not interest or mark-up. The measure is part of a broader strategy to refinance and manage the existing liabilities in the energy sector without further worsening fiscal…

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Rs133.4bn Allocated for Hydropower and Water Projects in FY2025-26

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Dasu-Hydropower1

ISLAMABAD: The federal government has earmarked Rs133.4 billion for hydropower and water sector development under the Public Sector Development Programme (PSDP) 2025-26, aiming to bolster energy generation and improve water infrastructure across the country. Key allocations include Rs20 billion for the Dasu Hydropower Project (Stage-I) and Rs25 billion for the Diamer Basha Dam, with an additional Rs7.787 billion set aside for land acquisition and resettlement. The Mohmand Dam Project (800MW) receives a substantial Rs35.724 billion, reflecting its national priority status. Other major hydropower allocations include Rs3.4 billion for the Tarbela…

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Govt Slashes Subsidies by Rs180bn to Rs1.18tr for FY2025-26; Power Sector Gets Lion’s Share

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power-sector

ISLAMABAD: In a bid to contain fiscal pressures, the federal government has trimmed the total subsidy allocation to Rs1.186 trillion for the fiscal year 2025-26—down by Rs180 billion from the revised estimate of Rs1.378 trillion in the current year. Of the total, Rs1.036 trillion—nearly 87%—is earmarked for the power sector, reflecting continued support to electricity consumers despite fiscal tightening. This includes Rs249 billion for Inter-Disco tariff differential, Rs125 billion for K-Electric’s tariff support, and Rs95 billion for payments to Independent Power Producers (IPPs). Notably, Rs40 billion has been allocated for…

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