Author: Admin

KARACHI: Syed Murad Ali Shah announced that the Sindh government has disbursed Rs146.77 million under its targeted fuel subsidy programme, benefiting 3,976 vehicles so far, as part of efforts to ease the impact of rising fuel prices on the transport sector. Chairing a high-level meeting at the CM House, the chief minister was informed that nearly 12,000 vehicles have been identified as eligible under the scheme, jointly funded by the federal and provincial governments. However, over 5,000 cases remain under review due to issues such as CNIC mismatches, missing bank…

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ISLAMABAD: Pakistan has engaged the International Finance Corporation (IFC) as transaction adviser to attract private investment for the installation of 10 million smart meters across electricity distribution companies (DISCOs), marking a major step toward digital transformation in the power sector. The agreement, signed between the Power Division of the Ministry of Energy and IFC, involves a Transaction Advisory Services Agreement (TASA). Under this arrangement, IFC will conduct a comprehensive techno-commercial assessment and help structure a service-provider or public-private partnership model for the nationwide rollout. The initiative, first announced in October…

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ISLAMABAD: The Directorate General of Petroleum Concessions (DGPC) has raised serious concerns over the alleged misuse of confidential documents by Frontier Holdings Ltd (FHL), intensifying regulatory scrutiny amid an ongoing ownership dispute. In a formal communication, the DGPC—operating under the Ministry of Energy—has asked FHL to clarify its position regarding the alleged unlawful acquisition and use of inquiry reports in legal and international proceedings. According to the letter, FHL relied on what it termed “inquiry reports” in Writ Petition No. 2117 of 2023 before the Islamabad High Court, as well…

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LONDON: Global financial markets turned volatile on Monday as oil prices jumped sharply and major stock indices in the US and Europe retreated, driven by renewed geopolitical tensions in the Middle East following Iran’s closure of the Strait of Hormuz. Investor sentiment weakened ahead of the anticipated end of the US-Iran ceasefire, with uncertainty surrounding upcoming diplomatic talks. Washington has indicated plans to send a delegation to Pakistan for fresh negotiations, while Tehran has yet to confirm its participation. Benchmark crude prices reacted strongly. Brent crude rose by $4.61, or…

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ISLAMABAD: April 20, 2026) The Ministry of Energy (Power Division) has signed a Transaction Advisory Services Agreement (TASA) with the International Finance Corporation (IFC), a member of the World Bank Group. Under this agreement, the IFC will act as transaction advisor and conduct a comprehensive techno-commercial assessment for a service-provider model or public-private partnership framework to support the large-scale rollout of smart metering infrastructure for 10 million single-phase connections. This initiative is intended to attract local and international investors to install, maintain, and operate the infrastructure, thereby advancing Pakistan’s digital…

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