Category: Latest News

Islamabad: The Oil and Gas Regulatory Authority (OGRA) has uncovered a significant irregularity involving nearly 500 petrol pumps across Pakistan that remained inactive for most of the year but reported selling thousands of litres of petrol during March and April. According to Acting OGRA Chairman Nabeel Ahmed Awan, the investigation has identified several suspicious transactions. As part of the verification process, OGRA has sought 18 months of bank statements and electricity bills from the relevant Oil Marketing Companies (OMCs) to validate the reported fuel sales. In a surprising development, some…

Read More

Karachi: Mr. Atif Ikram Sheikh, President FPCCI, has welcomed the visit of Dr. Hashim Hussain, Head of the United Nations Industrial Development Organization – Investment and Technology Promotion Office (UNIDO-ITPO), Bahrain, to the Federation of Pakistan Chambers of Commerce and Industry (FPCCI). The visit marks another important milestone in strengthening cooperation between FPCCI and UNIDO-ITPO Bahrain for the promotion of small and medium enterprises (SMEs), entrepreneurship, investment, innovation, vocational training and private sector development in Pakistan, he added. Mr. Atif Ikram Sheikh highlighted that FPCCI attaches great importance to its…

Read More

ISLAMABAD: Pakistan has purchased another liquefied natural gas (LNG) cargo from the international spot market as disruptions to Qatari exports through the Strait of Hormuz continue to constrain supplies, forcing the country to rely on costlier imports to meet domestic energy demand. According to market sources, TotalEnergies SE sold a cargo to state-owned Pakistan LNG Limited (PLL) for delivery on July 10-11 at a price of $17.37 per million British thermal units (mmBtu). The cargo was secured through a spot tender that closed on Friday. The purchase marks Pakistan’s second…

Read More

ISTANBUL: Deputy Prime Minister and Foreign Minister Ishaq Dar has invited Turkish investors to explore opportunities in Pakistan’s key economic sectors, including energy, mining, minerals, power infrastructure, information technology (IT), manufacturing, agriculture, logistics, tourism, and defence industries, as the government intensifies efforts to attract foreign investment and strengthen bilateral economic ties. Addressing the Pakistan-Türkiye Business Conference in Istanbul, Dar said these sectors offer significant potential for commercial growth while promoting technology transfer, industrial modernization, and employment generation. According to the Ministry of Foreign Affairs (MoFA), Dar highlighted that the government,…

Read More

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has announced an around 15% increase in Regasified Liquefied Natural Gas (RLNG) prices for June at the distribution stage for both Sui gas utilities, citing expensive spot market purchases made to offset supply disruptions triggered by the recent U.S.-Iran conflict. The latest notification takes RLNG prices to their highest level in months, with rates now 15% higher than in May, nearly 56% above March levels, and 73% higher than in February. The sharp increase has significantly raised fuel costs for power generation,…

Read More