Category: Latest News

Iranian Fuel Smuggling Resurges Amid Regional Tensions, Threatening Local Refineries

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ISLAMABAD: The inflow of smuggled petroleum products from Iran into Pakistan has surged again amid heightened regional tensions, raising serious concerns for local refineries and energy sector stakeholders. Industry sources say the situation has worsened over the past two months, coinciding with disruptions in global energy routes and volatility linked to developments around the Strait of Hormuz. The spike in global oil prices has also increased pressure on Pakistan’s import bill and domestic fuel market. Pakistan’s weekly oil import cost has reportedly jumped from around $300 million to nearly $800…

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UAE’s Strategic Oil Pipeline Bypassing Strait of Hormuz Reaches 50% Completion

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DUBAI: A new crude oil pipeline being developed by the United Arab Emirates to bypass the Strait of Hormuz is now 50 per cent complete, according to ADNOC CEO Sultan Al Jaber. The project, launched last year, is designed to strengthen the UAE’s export resilience by reducing dependence on the strategically sensitive waterway, through which a significant portion of global oil and gas supplies traditionally pass. Speaking at a live-streamed Atlantic Council event, Al Jaber said construction is being accelerated under directives from Abu Dhabi leadership. “Today, it’s already almost…

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Pakistan-China Ties ‘Never Faced an Autumn’ in 75 Years: Ahsan Iqbal

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ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal on Wednesday said that Pakistan-China relations have remained consistently strong for the past 75 years, describing the partnership as one that has “never seen a moment of autumn” and continues to deepen on the basis of trust, cooperation and shared objectives. He made these remarks while addressing a cultural event held at the Pakistan-China Friendship Centre to mark the 75th anniversary of diplomatic relations between the two countries. The event was jointly organised by the Diplomatic Insight Group (DIG)…

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Nepra Reviews $53bn Power Plan Amid Tariff Hike Concerns, Lack of Third-Party Validation

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ISLAMABAD: The government has sought approval from the National Electric Power Regulatory Authority (Nepra) for the Integrated System Plan (ISP) 2025–35, valued at over USD 53 billion, without third-party validation — triggering concerns over potential electricity tariff increases and criticism from industry stakeholders. The two-day public hearing, chaired by Nepra Chairman Waseem Mukhtar alongside Member (Tariff & Finance) Amina Ahmed and Member (Development) Maqsood Anwar Khan, also saw notable absences of representation from Sindh and Balochistan. Officials from the Independent System and Market Operator (ISMO) and the Private Power and…

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Privatisation Commission Board Reviews Progress on First Closing of PIACL Privatisation Transaction

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PIA-Airlines

The Privatisation Commission (PC) Board, in its 252nd meeting held today under the chairmanship of Mr. Muhammad Ali, Adviser to the Prime Minister on Privatisation, reviewed the progress on the first closing of the privatisation transaction of Pakistan International Airlines Corporation Limited (PIACL). During the meeting, the Financial Adviser briefed the Board on the progress achieved towards the fulfilment of the conditions precedent outlined in the Share Purchase and Subscription Agreement (SPSA), including key regulatory, financial, and transactional requirements necessary for completion of the first closing. The Board expressed satisfaction…

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