Category: Latest News

Exchange Rate Adjustment, Levy Hikes Push Up Diesel Price Despite Petrol Cut

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fuel-price

ISLAMABAD: High-Speed Diesel (HSD) prices have increased by Rs 1.48 per litre in the latest fortnightly review for August, largely driven by a Rs 3.21 per litre exchange rate adjustment applied to Pakistan State Oil (PSO), the country’s primary fuel importer. The Finance Division, in its Thursday announcement, also revealed a significant Rs 7.54 per litre cut in petrol prices, reflecting international market trends. However, several policy-driven adjustments contributed to the uptick in diesel pricing. One of the key factors was the rise in the petroleum levy on HSD, which…

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Sahiwal Coal Plant Warns of Forced Outage Amid Railway Wagon Shortage

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Sahiwal-Power

ISLAMABAD: The Sahiwal coal-fired power plant, a flagship project under the China-Pakistan Economic Corridor (CPEC), has raised alarm over a critical shortage of railway wagons for coal transportation, warning that continued delays could trigger a forced outage and threaten national grid stability. Huaneng Shandong Ruyi (Pakistan) Energy (Private) Limited (HSRL), the Chinese operator of the 1,320 MW facility, has formally communicated its concerns to top government officials, including the Special Assistant to the Prime Minister. The plant is already grappling with financial strain due to payment delays from the Central…

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Donors Pledge \$5 Billion for Reko Diq Mining Project Amid Foreign Investment Surge

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Reko-Diq

ISLAMABAD: Pakistan has received an overwhelming \$5 billion in financing offers from leading global donors and development agencies to support the execution of the Reko Diq copper and gold mining project in Balochistan, far exceeding the estimated project requirement of \$3 billion. Key contributors include the Asian Development Bank (ADB), Islamic Development Bank (IDB), International Finance Corporation (IFC), and the US Exim Bank—along with development agencies from Germany and Denmark. Sources highlight that the financial close is at an advanced stage, with Petroleum Minister Ali Pervaiz Malik and the Special…

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Independence Day and “Battle for Truth” Celebrations Kick Off

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New-Project16

Minister Nasir Hussain Shah inaugurates event at STDC by cutting the ceremonial cake Karachi (): Sindh Minister for Energy, Planning and Development, Syed Nasir Hussain Shah, has said that the month of August reminds the nation of the sacrifices made by the martyrs for the creation and protection of Pakistan. He stated that during the Battle for Truth, Pakistan’s brave armed forces demonstrated exceptional courage, valor, and heroism, which not only brought honor to the country but also filled the hearts of every Pakistani with pride. He emphasized that this…

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Pakistan to Lift Gas Connection Ban, New Consumers to Get Dollar-Linked LNG

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SSGC-LPG

ISLAMABAD, Aug 1: Pakistan is preparing to lift its nationwide ban on new gas connections—in place since 2019—by introducing a new supply model based on dollar-linked, unsubsidized liquefied natural gas (RLNG) pricing, a senior government official revealed on Thursday. A summary has been submitted for Prime Minister’s approval, which would enable both household and commercial consumers to apply for new connections. However, the gas supplied will be imported LNG, with its price pegged to international crude oil and subject to foreign exchange fluctuations. While consumers will continue to pay in…

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