Author: Admin

ISLAMABAD: The International Monetary Fund (IMF) has raised serious concerns over Pakistan’s proposed gas circular debt management strategy, questioning key components of the plan including a proposed petroleum levy and the use of dividends from state-owned energy companies to retire mounting liabilities, officials familiar with the discussions said. According to sources, the government recently presented its framework to the IMF as part of ongoing programme negotiations. However, contrary to earlier impressions, the Fund has not approved the plan and has instead sought detailed clarifications on several policy measures. Officials said…

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DUBAI: Emirates Gas, a leading gas supplier and wholly owned subsidiary of ENOC Group, has announced an update to its LPG cylinder security system in the Dubai market, replacing the existing yellow seal with a new grey seal starting 16 May 2026. The company said the initiative is part of its ongoing safety enhancement measures aimed at strengthening consumer protection and ensuring the integrity of LPG cylinders in circulation. According to the announcement, the new seal is designed to help prevent counterfeiting and curb the illegal refilling and distribution of…

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ISLAMABAD: The government is intensifying efforts to persuade Chinese Independent Power Producers (IPPs) operating under the China-Pakistan Economic Corridor framework to sign renegotiated settlement agreements, similar to those accepted by other IPPs, in order to unlock the remaining amount from a Rs1.225 trillion financing facility arranged through commercial banks. According to informed sources, the National Energy Task Force — headed by Federal Minister for Power Sardar Awais Ahmed Khan Leghari and comprising Adviser to the Prime Minister on Privatisation and Lt Gen Zafar Iqbal — has finalised its recommendations regarding…

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ISLAMABAD: Pakistan State Oil (PSO) on Sunday announced a major reduction in jet fuel prices, lowering the rate by Rs111.44 per litre in a move expected to ease operational costs for airlines and potentially reduce domestic and international airfares. According to the company’s latest pricing update, jet fuel prices have been reduced to Rs330.22 per litre. Aviation industry officials believe the substantial decrease could provide significant financial relief to airlines facing rising operational expenses and may lead to lower ticket prices in the coming weeks. Meanwhile, the government also revised…

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ISLAMABAD: Pakistan on Sunday expressed “utmost satisfaction” over a supplemental award issued by the Permanent Court of Arbitration in proceedings related to the Indus Waters Treaty, stating that the ruling reaffirmed substantive limits on India’s ability to control water flows on the western rivers of the Indus basin. The award concerns disputes over the design and maximum pondage capacity of the Ratle Hydroelectric Plant and the Kishenganga Hydroelectric Project in occupied Kashmir. Maximum pondage refers to the volume of water that can be stored in a reservoir for operational purposes.…

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