Category: Latest News

PSO Eyes Rs732bn Receivables as Profit Climbs 14% Despite Market Pressures

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PSO-Head

KARACHI: Pakistan State Oil (PSO) has reported a 14% year-on-year rise in profit, reaching Rs15 billion during the first nine months of FY2024–25, despite persistent circular debt challenges and market share pressures. In a corporate briefing held Friday, PSO revealed that total receivables had ballooned to Rs732 billion by the end of March, including Rs325 billion in principal from SNGPL alone. Efforts to recover outstanding dues—especially the Rs200 billion in Late Payment Surcharges—remain a top priority, although a definitive debt resolution plan is still awaited. Since February 2024, SNGPL has…

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FPCCI Condemns 18% Tax on E-Commerce and Solar Panels, Calls for Immediate Withdrawal

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FPCCI-Project

KARACHI: Muhammad Amaan Paracha, Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has sharply criticized the federal budget 2025–26, saying it falls short of the expectations of trade, industry, and the general public. He denounced the imposition of 18% tax on e-commerce transactions, arguing it will suppress the potential of unemployed youth who had found income opportunities through online platforms. “This move is unjust and counterproductive,” he remarked. Paracha also strongly opposed the 18% sales tax on solar panels, warning it will drive up prices…

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Power Division Uncertain on Tariff Changes from July 1 Amid Disco Petitions

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Power-sector

ISLAMABAD: The Power Division on Friday admitted it has no clear estimate of whether electricity tariffs will rise or fall from July 1, 2025, stating that any change hinges on the regulator’s approval of cost components submitted by eight power distribution companies (Discos) under the Multi-Year Tariff (MYT) regime. During a NEPRA public hearing, Additional Secretary (Power Finance) Mehfooz Bhatti explained that seven tariff scenarios have been submitted to NEPRA, but final rates will depend on approved distribution margins and government subsidies. A targeted distribution subsidy (TDS) of Rs250 billion…

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Govt May Miss Rs1.16tr Petroleum Levy Target Amid Oil Price Surge Following Israel-Iran Conflict

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oil and gas

ISLAMABAD: The federal government is likely to miss its revised petroleum levy (PL) target of Rs1,161 billion for FY2024-25, as surging global oil prices — triggered by Israel’s recent attacks on Iran — drive up local fuel costs and dampen consumption. Following the attacks, international petrol prices climbed by \$1.98 per barrel to \$73.79, while high-speed diesel (HSD) rose by \$2.54 per barrel to \$78.68. This could translate into a domestic hike of Rs4.38 per litre for petrol and Rs5.02 for HSD from June 16, 2025. Petrol and HSD costs…

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Consumers Demand Audit of Power Firms Ahead of Rs455bn Tariff Hike

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New-NEPRA

ISLAMABAD: Electricity consumers have urged the National Electric Power Regulatory Authority (Nepra) to conduct a comprehensive audit of power distribution companies (DISCOs) before approving their request to recover Rs455 billion through increased tariffs. During a public hearing held by Nepra on Friday, stakeholders criticized the lack of transparency in the interim tariff applications submitted by eight DISCOs under the multiyear tariff (MYT) regime for FY2025-26 to FY2029-30. Karachi Chamber of Commerce and Industry (KCCI) representative Tanveer Bari emphasized the need for DISCOs to disclose their investment plans, highlighting that many…

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