Category: Latest News

Senate Panel Raises Alarm Over Capacity Payments to Idle IPPs, Orders NEPRA Performance Audit

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IPPs

ISLAMABAD: The Senate Standing Committee on Cabinet Secretariat has voiced serious concern over billions of rupees in capacity payments being made to non-operational Independent Power Producers (IPPs), describing the practice as an unnecessary financial burden on electricity consumers. During a meeting chaired by Senator Rana Mahmood Ul Hassan on Tuesday, the committee also criticized the National Electric Power Regulatory Authority (NEPRA) and certain IPPs for allegedly undermining the government’s solar energy policy. Members unanimously called for greater accountability, directed a comprehensive performance audit of NEPRA, and decided to refer the…

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Oil Prices Rebound Over $2 a Barrel as U.S. Crude Stocks Fall, Supply Concerns Return

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Oil prices

NEW YORK: Oil prices rebounded by more than $2 a barrel in early trading on Wednesday, recovering part of the previous session’s sharp losses after industry data showed a significant decline in U.S. crude inventories, signaling tighter supplies. Brent crude futures climbed $2.71, or 3.2%, to $86.80 per barrel, while U.S. West Texas Intermediate (WTI) crude gained $2.26, or 3.4%, to $81.95 per barrel. According to market sources citing data from the American Petroleum Institute (API), U.S. crude oil inventories fell by approximately 3.3 million barrels during the week ended…

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US CENTCOM CHIEF RECOMMENDED HALTING BOMBING CAMPAIGN AGAINST IRAN

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CENTCOM CHIEF

WASHINGTON D.C. – In a significant development, U.S. Central Command (CENTCOM) chief Admiral Brad Cooper has recommended halting the bombing campaign against Iran, stating that the operation had reached its effective limit and that designated targets were largely exhausted, multiple sources confirm. ⚡ “OPERATION HAS REACHED ITS EFFECTIVE LIMIT”Admiral Cooper advised the White House, Pentagon, and Joint Chiefs of Staff that ongoing strikes had largely depleted designated targets and significantly degraded Iran’s ship-attack capabilities. His assessment played a pivotal role in President Donald Trump’s decision to pause strikes against the…

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Important Statement by Power Division Spokesperson Regarding Circular Debt and Loss Reduction

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nepra

The power sector’s circular debt decreased from PKR 2,393 billion in FY 2023–24 to PKR 1,614 billion in FY 2024–25. In the federal budget for FY 2025–26, a total of PKR 893 billion was allocated for the power sector; however, a deduction of PKR 98 billion was subsequently made. Had the power sector received the full allocated budgetary payment, the circular debt would have further reduced to PKR 1,577 billion. Due to the budget deduction of PKR 98 billion, the circular debt witnessed an increase of PKR 61 billion during…

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CM Murad Shah pledges immediate action on investors’ concerns, unveils push for more business-friendly reforms

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New-Project267

KARACHI (July 28): Sindh Chief Minister Syed Murad Ali Shah on Tuesday pledged swift resolution of regulatory and operational issues facing British investors and multinational corporations, assuring the international business community that Sindh would continue pursuing investor-friendly reforms, regulatory simplification and policy consistency to attract fresh investment and facilitate business expansion.Chairing a high-level Pakistan-UK Roundtable of Multinational Corporations and UK-based firms operating in Sindh, organised in collaboration with the British Deputy High Commission, the Chief Minister reaffirmed his government’s commitment to creating a transparent, predictable and globally competitive business environment.…

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