Author: Admin

US Ambassador Affirms Commitment to Pakistan in Climate Management and Education

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US-Ambassador

ISLAMABAD: US Ambassador Donald Blome underscored the United States’ commitment to supporting Pakistan in various areas, including climate management and education, at an international conference titled ‘Strengthening Pakistan-US Relations’ hosted by the Institute of Strategic Studies Islamabad (ISSI) in collaboration with Beaconhouse National University (BNU) Lahore. Appreciating Pakistan’s contribution to counterterrorism, Ambassador Blome highlighted the enduring partnership between the US and Pakistan, emphasizing the importance of economic collaboration, renewable energy, and addressing regional threats. He praised Pakistan’s dynamic young population and the nation’s economic opportunities, noting significant US investments in…

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Energy Ministry Pushes for Deregulation Framework for Fuel Prices

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Fuel-Prices

ISLAMABAD: The Ministry of Energy has directed the Oil and Gas Regulatory Authority (Ogra) to finalize the framework for transferring the responsibility of setting petroleum prices to the oil industry. In a letter issued on Wednesday, the ministry instructed Ogra Chairman to convene a meeting today (Thursday) to discuss the analysis, implications, and strategies for deregulating petroleum products. This move follows Prime Minister Shehbaz Sharif’s directive to delegate pricing responsibilities to oil marketing companies (OMCs). However, the two main stakeholders—OMCs and dealers—have not been invited to the meeting. Currently, four…

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Pakistan and Turkmenistan for expediting TAPI pipeline project: resolved for continuous engagement

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TAPI-pipeline-project

Federal Minister for Petroleum Dr Musadik Malik held a meeting with the Deputy Chairman of the Cabinet of Ministers and Minister of Foreign Affairs of Turkmenistan Mr. Rashid Meredov who is on a two day visit to Pakistan accompanied by Turkmen delegation including Mr.Ata Haljanov, head of International economic cooperation division, Ministry of Foreign Affairs of Turkmenistan.

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Resolution submitted to Sindh Assembly says payments to IPPs threaten Pakistan’s survival

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IPPS-THREATEN

The Muttahida Quami Movement Pakistan has submitted a resolution to the Sindh Assembly calling upon the federal government to review its agreements with independent power producers (IPPs).
The resolution in question was submitted to the secretariat of the Sindh Assembly by the Leader of Opposition in the Sindh Assembly, Ali Khursheedi and MPA of MQM Pakistan, Najam Mirza on Wednesday.

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Oil Industry Fears Rs250bn Burden from Sales Tax Exemption

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oil and gas

KARACHI: The oil sector anticipates a substantial Rs25 billion annual increase in operating costs and a staggering Rs250 billion burden for refinery upgrades due to the recent sales tax exemption. Industry representatives voiced their concerns to journalists on Tuesday, highlighting that the exemption, introduced by the Finance Act 2024, poses significant financial challenges. The policy, effective July 1, 2024, exempts essential fuels like petrol, high-speed diesel, kerosene, and light diesel oil from sales tax. While designed to benefit consumers, it inadvertently increases operational costs for the oil industry and complicates…

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