Category: Latest News

PLL reissues LNG tender as Pakistan faces electricity crunch: Bloomberg

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After rejecting the offer to buy expensive liquefied natural gas (LNG), the state-owned Pakistan LNG Ltd (PLL) has reissued the LNG tender on Wednesday and is now seeking a cargo before September 12. Offers are due on Friday, Bloomberg reported. As per the report, PLL earlier scrapped an emergency tender for a shipment for delivery by September 8 after receiving a sole offer from BP Plc at $27 per million British thermal units, nearly three times pre-war spot levels. Bloomberg noted that the government may need to continue blackouts in the evening if…

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Govt raises petrol price by Rs2.29, diesel by Rs1.11 per litre

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The federal government on Wednesday increased the prices of petroleum products for the next 24 hours, effective till Thursday (September 3). According to a notification issued by the Ministry of Energy (Petroleum Division), the Oil and Gas Regulatory Authority (OGRA) on Wednesday revised the ex-depot prices of petroleum products under the government’s petroleum pricing mechanism. The price of Motor Spirit (petrol) has been increased by Rs2.29 per litre, taking it from Rs343.87 to Rs346.16 per litre. High Speed Diesel (HSD) has seen a smaller hike of Rs1.11 per litre, rising…

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Iran says US strike killed four at wedding in ‘war crime’ as US denies targeting civilians

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Iran has accused the US of a war crime after officials said a missile strike killed four people including two children at a wedding celebration. The Iranian Red Crescent Society (IRCS) said shrapnel from a missile hit a family wedding ceremony at a home in southern Iran, causing the deaths. Iranian foreign ministry spokesman Esmaeil Baqaei called the incident a “war crime”. A US Central Command (Centcom) spokesperson said it “never targets civilians”, adding that it was aware of the reports. Iranian authorities said another 14 people were killed elsewhere.…

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Pakistan’s Five Refineries Poised to Sign $6bn Upgrade Agreements

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ISLAMABAD: Pakistan is set to sign long-delayed agreements with five major oil refineries on Thursday, paving the way for more than $6 billion in planned investment to modernise ageing plants, boost domestic production of petrol and diesel, and reduce the country’s dependence on refined fuel imports. The agreements with Pak-Arab Refinery Ltd. (PARCO), Pakistan Refinery Ltd. (PRL), National Refinery Ltd. (NRL), Cnergyico and Attock Refinery Ltd. (ARL) are being finalised through a series of meetings between the Petroleum Division and Inter-State Gas Systems (ISGS), a senior Petroleum Division official told…

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Sindh Cabinet Extends EV Incentives to 2028, Approves Key Local Govt Reforms

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KARACHI: The Sindh Cabinet has approved a two-year extension of tax and registration incentives for non-commercial electric vehicles (EVs), while proposing a package of amendments to the Sindh Local Government Act, 2013 aimed at improving municipal services, institutional efficiency and accountability. The cabinet, chaired by Sindh Chief Minister Syed Murad Ali Shah, approved the extension of EV incentives from May 30, 2026 to May 29, 2028, in a move aimed at encouraging cleaner and more affordable transportation across the province. Under the extended incentive package, the registration fee for non-commercial…

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