Category: Latest News

ISLAMABAD: In an effort to tighten control over fuel imports and reduce pressure on Pakistan’s external account, the federal government has barred private oil marketing companies (OMCs) from importing high-speed diesel (HSD), allowing only state-owned Pakistan State Oil (PSO) to continue diesel procurement. The decision was taken during a recent meeting of the National Coordination and Management Council (NCMC), effectively centralising HSD imports under PSO. Officials said the restriction would remain in place until stability returns to the Middle East, where ongoing tensions have contributed to volatility in global oil…

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KARACHI: The Oil and Gas Regulatory Authority (Ogra) has directed oil marketing companies (OMCs) to submit complete data and supporting documentation related to price differential claims (PDCs) within 10 days to facilitate timely reimbursement and improve transparency in the settlement process. In a circular issued to OMCs operating across the country, the regulator stated that expeditious settlement of PDCs requires evidence-based scrutiny and verification. Ogra stressed that companies must comply with the prescribed mechanism in both letter and spirit and ensure that all claims are submitted with the required supporting…

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KARACHI: In a major step towards industrial energy self-reliance and sustainability, HubSalt has signed a landmark agreement with Chinese technology firm Livoltec to deploy a hybrid solar and battery energy storage system (BESS) at its operations in Pakistan. The agreement was signed in Karachi by HubSalt CEO Ismail Sattar and Livoltec Asia-Pacific Director Max Ma. The project will be executed on an Engineering, Procurement and Construction (EPC) basis by Optimizen in collaboration with its Chinese partner Livoltec. The initiative includes the installation of a 1.44-megawatt solar photovoltaic (PV) system integrated…

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ISLAMABAD: Plans to introduce water sports and tourism facilities near Simly Dam have triggered environmental concerns among residents and conservationists, who fear the move could threaten one of the capital’s few remaining sources of clean drinking water. Constructed in 1983 and located around 30 kilometres east of Islamabad amid the foothills of lush green mountains, Simly Dam currently supplies nearly 40 per cent of the capital’s water needs. Unlike Rawal Dam, which has suffered severe pollution due to unchecked contamination in its catchment area, Simly Dam has largely remained protected…

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ISLAMABAD: Finance Minister Muhammad Aurangzeb on Tuesday said Pakistan possesses sufficient domestic fiscal capacity to confront the growing challenges of climate change, stressing that available local resources should be utilised efficiently before turning to international financial assistance. Speaking at a session titled “Mobilising Climate Financing for Pakistan” during the Breathe Pakistan Climate Conference, the minister highlighted the importance of prudent financial management and coordinated national action to address climate-related vulnerabilities. Referring to the catastrophic floods of 2022, Aurangzeb noted that the floods witnessed in 2025 were “even more intense and…

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