Category: Latest News

ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday directed authorities to accelerate work on the federal government’s 100-megawatt solar energy project in Gilgit-Baltistan (GB), reaffirming Islamabad’s commitment to providing affordable and sustainable energy to the region. Chairing a review meeting on the progress of the project, the prime minister was informed that the solarisation of government buildings and households across Gilgit-Baltistan is progressing steadily. Officials briefed him that the Baltistan Division component of the project is expected to be completed by October 2026, while the overall 100MW solarisation initiative is scheduled…

Read More

ISLAMABAD: Electricity consumers across Pakistan may face an increase of up to Rs1 per unit in power tariffs as the government grapples with the financial fallout of diverting indigenous gas supplies to LNG-fired power plants during the recent US-Iran conflict. According to sources, the Petroleum Division is seeking approval to charge higher tariffs on locally produced gas supplied to LNG-based power plants, a move aimed at reducing mounting losses in the gas sector and preventing further accumulation of circular debt, which has reached approximately Rs1.8 trillion. The issue emerged after…

Read More

SINGAPORE: Iranian oil exports have begun to recover after several tankers successfully passed through the US naval blockade this week, signaling a gradual restoration of oil flows following a framework agreement between the United States and Iran to reopen the strategically important Strait of Hormuz. According to shipping and vessel-tracking data, at least three tankers carrying Iranian crude oil have crossed the blockade and are heading toward Asian markets, while a fourth vessel is en route to the Gulf of Oman. Very Large Crude Carriers (VLCCs) Hero II and Diona,…

Read More

TOKYO: Oil prices edged higher on Wednesday, recovering part of the sharp losses recorded in the previous two sessions, as investors weighed the prospects of a lasting peace agreement between the United States and Iran and the potential reopening of the strategically vital Strait of Hormuz. Brent crude futures rose 47 cents, or 0.6 percent, to $79.43 per barrel, while U.S. West Texas Intermediate (WTI) crude gained 48 cents, or 0.6 percent, to $76.53 per barrel during early Asian trading. Both benchmarks had plunged nearly 5 percent on Tuesday, extending…

Read More

ISLAMABAD: Electricity Distribution Companies (DISCOs) across Pakistan have begun rolling out a newly redesigned electricity bill format as part of the Ministry of Energy (Power Division)’s ongoing consumer-focused reform initiatives. According to a statement issued by the Ministry of Energy on Wednesday, the revamped bill format has been designed to enhance simplicity, readability, and transparency, enabling consumers to easily understand their electricity consumption, billing details, and payment obligations without dealing with unnecessary complexity. The ministry stated that the redesign was undertaken in response to long-standing consumer feedback and complaints regarding…

Read More