Category: Highlights

Pakistan’s industry paying double power costs of US, China, India: report

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power-sector

ISLAMABAD: Pakistan’s industrial sector is paying almost double the electricity prices compared to China, India and the United States, and even higher than the European Union, adversely impacting its export competitiveness. According to the latest ‘Electricity 2025 — Analysis & Forecast to 2027’ report by the Paris-based International Energy Agency (IEA), the average 2024 electricity rates in the United States and India amounted to 6.3 cents each per kilowatt-hour (kWh), 7.7 cents in China, 4.7 cents in Norway and 11.5 cents in the European Union. In comparison, average electricity prices for energy-intensive…

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Centre hindered Sindh’s efforts towards sustainable energy: CM

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solar energy project

• Says federal govt doesn’t want to build additional power plants• Distributes solar panels in Karachi KARACHI: Recounting the hurdles faced by the Sindh government in promoting renewable energy and developing the Thar coal project, Chief Minister Syed Murad Ali Shah on Wednesday said that the federal government had continued to prioritise imported coal-based power plants and refused to grant approvals for additional power generation. He said that when the PPP had initiated a solar energy project, restrictions were imposed on renewable sources such as wind and solar energy, hindering…

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Pakistan industries pay almost twice the power costs of China, India, and US: report

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power tariff

Pakistan’s industrial sector is paying almost twice the electricity costs compared to China, India, and the United States, putting its export competitiveness at a disadvantage.  A report by the International Energy Agency (IEA) shows that power tariffs for energy-intensive industries in Pakistan averaged 13.5 cents per kilowatt-hour (kWh) in 2024, surpassing those in major economies and even exceeding rates in the European Union. The Electricity 2025 — Analysis & Forecast to 2027 report by the Paris-based IEA states that industrial electricity prices in 2024 stood at 6.3 cents per kWh in both…

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Oil eases in choppy trading on U.S. tariffs, OPEC+ plans to raise output

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Oil falls

HOUSTON: Oil prices eased slightly in choppy trade on Thursday with Brent still below $70 under pressure from trade tariffs between the U.S., Canada, Mexico and China, and OPEC+ plans to raise output. Those factors and a larger than expected build in U.S. crude inventories had sent Brent as low as $68.33 on Wednesday, its weakest since December 2021. Brent futures were down 29 cents, or 0.4%, at $69.03 a barrel by 11:10 a.m. ET (1610 GMT) on Thursday while U.S. West Texas Intermediate crude futures eased 37 cents, or…

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Oil down on OPEC+ output increase, tariffs start and US pause on Ukraine aid

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oil price

LONDON: Oil prices extended losses on Tuesday following reports that OPEC+ will proceed with a planned output increase in April and as U.S. tariffs on Canada, Mexico and China came into effect, as well as Beijing’s retaliatory tariffs. Brent futures were down $1.05, or 1.5%, at $70.57 a barrel by 1133 GMT while U.S. West Texas Intermediate (WTI) crude was off 83 cents, or 1.2%, at $67.54. “The current downward trend in oil prices is primarily driven by OPEC+’s decision to increase output and the introduction of U.S. tariffs,” said…

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