Category: Latest News

ECC Approves Up to 50% Hike in Gas Charges to Meet IMF Targets

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Gas-IMF

ISLAMABAD: In a significant move to align with International Monetary Fund (IMF) requirements, the Economic Coordination Committee (ECC) of the federal cabinet has approved a gas tariff hike of up to 50% for consumers across various categories, effective from July 1. The decision, made during an ECC meeting chaired by Finance Minister Muhammad Aurangzeb, includes a 50% increase in fixed charges for domestic consumers. Protected households will now pay Rs600 per month, up from Rs400, while non-protected users will see charges rise from Rs1,000 to Rs1,500. The ECC also abolished…

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PNSC Targets \$700 Million Freight Revenue with Green Fleet Expansion

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New-PNSC

ISLAMABAD: The Pakistan National Shipping Corporation (PNSC) is set to expand its cargo fleet to 34 vessels over the next three years, aiming to boost annual freight earnings to \$700 million. The initiative is part of a comprehensive strategy to modernise Pakistan’s maritime and logistics sectors and position the country as a regional shipping hub. The announcement came during a high-level meeting chaired by Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry. Officials revealed that PNSC currently handles 11% of the country’s cargo by volume and 4% by value.…

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Business Leaders Slam Gas Tariff Hike, Warn of Impact on SMEs and Exports

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OGRA-GAS

KARACHI: Chairman of the Businessmen Group (BMG) Zubair Motiwala and President of the Karachi Chamber of Commerce and Industry (KCCI) Muhammad Jawed Bilwani have strongly opposed the Economic Coordination Committee’s (ECC) recent decision to increase gas tariffs, calling the move irrational and harmful for the industrial sector, particularly small and medium enterprises (SMEs). In a joint statement on Friday, the business leaders termed the tariff hike unjustified in the current energy market context. They pointed out that global Brent crude prices have fallen and the SNGPL system is facing a…

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SNGPL to Launch Rs1 Billion Subsidiary Amid Record Profits

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SNGPL-Office

KARACHI: Sui Northern Gas Pipelines Ltd (SNGPL) has received board approval to establish a wholly owned subsidiary as part of its strategy to diversify operations following a year of record-breaking profitability. In a notice to the Pakistan Stock Exchange (PSX) on Thursday, the company announced that the decision was made during its 638th board meeting held on June 25. The new entity will have an authorized share capital of Rs1 billion, with an initial paid-up capital of Rs50 million. Costs incurred during the registration process will be billed to the…

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Govt Unveils EV Policy with Tax Incentives, Job Creation Goals

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electric-vehicles

KARACHI: The federal government is accelerating its push toward electric mobility through the New Energy Vehicle (NEV) Policy 2025-30, offering tax breaks and setting ambitious targets for job creation and local manufacturing. At a high-level workshop held in Karachi on Tuesday, officials from the Ministry of Industries and Production, including Additional Secretary Asif Saeed Lughmani and Engineering Development Board (EDB) CEO Khuda Bux Rind, met with stakeholders to advance the NEV roadmap. Lughmani emphasized that the policy aims to cut oil imports and tackle climate change, stressing Pakistan’s climate vulnerability.…

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