Category: Highlights

Petroleum Product Prices to Decline from May 16,

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Petrol-price

Petroleum Product Prices to Decline from May 16, Reflecting Global ShiftsEnergy Update Report: Petrol Anticipated to Drop by Rs 12/Litre, Diesel by Rs 9.70/Litre In an anticipated market move, petroleum product prices are set to decrease starting May 16, aligning with global trends. Petrol is expected to see a substantial drop of Rs 12 per litre, while diesel is forecasted to decrease by Rs 9.70 per litre, reflecting a decline in global gasoline prices to approximately $99.93 per barrel and diesel prices to $99.08 per barrel. Sales Trends Highlight Market…

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Power Division Urgently Seeks Rs130 Billion for Subsidies and Grants

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power-sector

The Power Division has urgently requested the disbursement of approximately Rs130 billion to cover subsidy payments for K-Electric and Azad Jammu & Kashmir (AJK). This request, along with other supplementary grants from various ministries, is set for approval by the Economic Coordination Committee (ECC) of the Cabinet, to be chaired by Finance Minister Muhammad Aurangzeb. The Power Division’s foremost request is for an advance subsidy of Rs70 billion for K-Electric’s arrears, followed by Rs55 billion for tariff differential subsidy arrears of AJK. Additionally, a technical supplementary grant of Rs2.5 billion…

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Pakistan Business Council Advises SIFC to Focus on Investment Climate Transformation

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business-community

The Pakistan Business Council (PBC) has directed the Special Investment Facilitation Council (SIFC) to prioritize the transformation of Pakistan’s investment climate, especially to attract foreign direct investment (FDI). In a letter, Ehsan Malik, CEO of PBC, urged SIFC to address fragmentation within key ministries and promote long-term policy predictability. Malik emphasized the importance of learning from existing investors’ experiences, highlighting the negative impact of abrupt policy changes on previous investments. He stressed the need to restore Pakistan’s reputation for stable, long-term investment plans. Furthermore, Malik recommended focusing on FDI in…

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Engro and Dawood Hercules Corporation Agree on Restructuring Plan

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In a significant development, Engro Corporation Ltd (Engro Corp) and Dawood Hercules Corporation Ltd (DH Corp) have given initial approval to a restructuring plan aimed at optimizing investment opportunities within the enterprise. The proposal, subject to final board and shareholder approvals, has been formally communicated to the PSX on Monday. This strategic restructuring aims to synergize investment efforts between Engro Corp and DH Corp, promising enhanced avenues for investment within the enterprise.

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Government of Pakistan Ministry of Energy Petroleum Division

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petroleum

[ ISLAMABAD : May 06,2024 ] Press Release Federal Minister for Petroleum Dr Musadik Malik and Federal Minister for Power Awais Leghari held a meeting with Mr Martin Raiser, South Asia Regional Vice president of World Bank. Both sides exchanged their ideas regarding reforms agenda and discussed in detail the support World Bank is providing to Pakistan in form of technical assistance. Dr Musadik Malik expressed his profiund gratitude for World Bank’s consistent support for reforms in energy sector. Technical assistance from World Bank goes long way and help us…

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