Category: Highlights

Budgetary disillusionment runs high

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Budgetary

Citizens and entrepreneurs deserve a better deal. Acknowledging deep structural flaws and the need for fundamental reforms, Finance Minister Muhammad Aurangzeb has pledged to make the upcoming budget a strategic document, one that provides clear direction to an otherwise rudderless economy. Mr Aurangzeb was reported to have remarked in Islamabad last week, “We are going to introduce bold measures; as the budget is not merely about revenue and expenditure, it must also provide direction, reflecting where the economy stands and where it is headed.” While the statement resonates with the…

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Pakistan, Azerbaijan explore deeper energy collaboration during minister’s Baku visit

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Baku visit

Petroleum Minister Ali Pervaiz Malik, SOCAR president discuss joint ventures, energy security, and investment opportunities Federal Minister for Petroleum Ali Pervaiz Malik held a meeting with the President of the State Oil Company of Azerbaijan Republic (SOCAR) on Tuesday in Baku to explore ways to enhance bilateral energy cooperation and identify new opportunities in the oil and gas sector. As per a news release received in Islamabad, the discussion centered on reinforcing energy ties between Pakistan and Azerbaijan. Both parties shared perspectives on areas of mutual interest, with a focus…

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OPEC+ may discuss oil output hike larger than 411,000 bpd for July

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oil

LONDON/MOSCOW: OPEC+ may discuss an increase in oil output for July at its meeting on Saturday larger than the 411,000 barrels per day (bpd) increases it made for May and June, sources familiar with OPEC+ talks told Reuters. Eight OPEC+ countries have been raising output more rapidly than earlier planned, even though the extra supply has weighed on prices. The strategy of group leaders Saudi Arabia and Russia is partly to punish over-producing allies and to win back market share, Reuters has reported. On Saturday, the eight members may decide to increase output…

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Minister briefed about overall structure of SSGC

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structure of SSGC

ISLAMABAD: The Federal Minister for Petroleum addressed a media gathering at the Head Office of the Sui Southern Gas Company (SSGC). According to a statement from Petroleum Division, Pervaiz Malik visited the SSGC, where he held a meeting with Acting Managing Director Amin Rajput along with the senior management of the company. He was given a comprehensive briefing on the overall structure of the organisation, customer’s complain redressal mechanism, company’s challenges, especially in light of widening gas demand-supply scenario, steps taken to mitigate these challenges and massive rehabilitation of SSGC’s…

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PM urged to expedite Rs23bn power bill relief

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power bills

KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Muhammad Jawed Bilwani has appealed the Prime Minister Shehbaz Sharif to ensure that the long-pending relief of Rs23 billion in the electricity bills on incremental consumption is released without further delay by duly incorporating provision in the forthcoming federal budget for FY 2025–26. Despite being allocated in previous budgets, the relief has yet to be disbursed, causing severe financial stress to the Karachi’s industrial sector only as this relief has been provided to the rest of the country. In a formal…

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