Category: Latest News

PIDE Study Warns Power Sector Crisis Is Deepening Economic Inequality

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Power-sector

ISLAMABAD: The Pakistan Institute of Development Economics (PIDE) has cautioned that Pakistan’s power sector woes have evolved into a profound socioeconomic imbalance, with the poorest households bearing the heaviest burden of systemic inefficiencies. Authored by Dr. Rubina Ilyas, Research Economist at PIDE, the study titled “Circular Debt and Electricity Tariffs: Unequal Burdens Across Household Quintiles in Pakistan” reveals how the circular debt—now surpassing Rs2.6 trillion—has fueled steep, regressive electricity tariffs that disproportionately impact low-income groups. The report warns that without efficiency-driven reforms, improved governance, and a more progressive tariff design,…

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CCoSOEs Orders Review of Litigation to Fast-Track Privatisation of SOEs

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Muhammad-Aurangzeb

ISLAMABAD: The Cabinet Committee on State-Owned Enterprises (CCoSOEs) on Monday directed the Finance and Privatisation Divisions to undertake a comprehensive review of all pending litigation involving state-owned enterprises listed for privatisation, aiming to ensure a seamless and efficient sell-off process. Chairing the meeting, Federal Minister for Finance and Revenue Muhammad Aurangzeb instructed both divisions—working closely with relevant ministries and the Law Division—to identify obstacles, devise solutions, and ensure the entities are fully prepared for privatisation. The Committee also approved several key board appointments and reconstitutions across major SOEs after considering…

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Shell & TotalEnergies’ Exit Reshapes Pakistan’s Fuel Retail Landscape

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shell-pakistan

ISLAMABAD: The recent exit of two major global energy companies—Shell Petroleum Limited (SPL) and TotalEnergies—from Pakistan’s fuel retail market has sparked mixed reactions among industry stakeholders and analysts. Experts argue that Pakistan’s downstream market is not contracting; rather, ownership is shifting to new international players. In June 2023, Shell announced the sale of its 77% stake in Shell Pakistan Limited, which was subsequently acquired by Saudi-based Wafi Energy LLC. Similarly, in August 2024, TotalEnergies divested its 50% share in Total PARCO Pakistan Limited (TPPL), transferring ownership to global commodities trader…

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Pakistan Faces 60MAF Water Shortfall by 2050, Senate Committee Warns

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New-Project42

ISLAMABAD: Pakistan will require an additional 60 million acre feet (MAF) of irrigation water by 2050 to meet the food, energy, and developmental needs of a rapidly growing population projected to reach 315 million, up from the current estimate of 251 million. Ongoing water storage projects, however, will provide only 11.13MAF of additional capacity, leaving a significant gap that demands urgent planning and investment. These insights were shared during a meeting of the Senate Standing Committee on Water Resources, chaired by Senator Shahadat Awan on Monday. Concern Over Suparco’s Non-Compliance…

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OGRA Approves Up to 7% Increase in Gas Prices to Meet Rs886bn Revenue Requirement

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OGRA

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has approved an increase of up to 7% (Rs118 per mmBtu) in prescribed natural gas prices for FY2025-26, aimed at enabling the two state-owned gas utilities to meet their combined Rs886 billion revenue requirement for the upcoming fiscal year. In its latest determination submitted to the federal government, OGRA set the average revenue requirement for Sui Southern Gas Company Ltd (SSGCL) at Rs370 billion, up from Rs354bn allowed in July. The revised prescribed price for SSGCL now stands at Rs1,777 per mmBtu,…

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