Category: Latest News

Diesel Price May Fall by Up to Rs20 per Litre as Government Cuts HSD Crack Spread

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Petrol-Diesel

ISLAMABAD: The government is considering a further reduction in the high-speed diesel (HSD) crack spread from $41.8 to $30 per barrel, a move that could lower the retail price of diesel by around Rs18–20 per litre in one go. Under the proposed mechanism, the HSD crack spread would be linked to the landed cost of crude oil for each refinery. The arrangement would remain in effect until the crisis surrounding the Strait of Hormuz eases, according to a senior Petroleum Division official. The government had previously reduced the HSD price…

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Refinery Upgrade Delays Cost Pakistan $1.5 Billion Annually

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ISLAMABAD: Pakistan’s long-delayed refinery modernisation programme is facing yet another setback, with upgrade agreements still awaiting finalisation despite the government’s approval of the amended policy, potentially costing the country around $1.5 billion annually in additional petroleum imports. The agreements with Inter State Gas Systems (ISGS) were expected to be signed by the end of August, but government formalities remain incomplete, raising fresh concerns about the implementation of a refinery upgrade programme that has been under discussion since 2019. The Brownfield Refineries Upgradation Policy, initially approved in August 2023 and amended…

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Senate Panel Raises Concerns Over Delays, Irregularities in Dasu-Islamabad 765kV Project

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Senate-Panel

ISLAMABAD: The Senate Standing Committee on Economic Affairs has expressed serious concern over delays, alleged financial irregularities and weak project management in the 765kV Dasu-Islamabad Transmission Line Project, noting that Rs9 billion has already been paid in interest against Rs76 billion received from donors. The committee met under the chairmanship of Senator Saifullah Abro to review progress on power sector projects financed by multilateral development agencies, with particular focus on the Dasu-Islamabad transmission line project, comprising Lots I to IV. The Economic Affairs Division briefed the committee on project proposals,…

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Power Division Moves to Digitise Detection Billing System to Curb Overbilling

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Power-Division

ISLAMABAD: The Power Division has decided to introduce fundamental reforms in the electricity detection billing system to protect consumers from inflated bills, unnecessary hardship and additional financial burdens. The initiative is part of the broader power sector reform agenda being pursued under Federal Minister for Power Division Sardar Awais Ahmad Khan Leghari, with a focus on improving consumer protection and strengthening transparency in the electricity billing system. Detection bills have traditionally been issued in cases where electricity meters malfunction, technical faults occur or actual consumption cannot be accurately recorded. In…

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Nepra Makes BESS Mandatory in First Electricity Wheeling Auction

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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has approved amendments to the electricity wheeling auction process, making battery energy storage systems (BESS) mandatory for solar and wind projects participating in the first auction. Under the approved framework, solar and/or wind projects will be eligible to participate only if the firm capacity of their co-located BESS is at least 10% of the firm capacity of the associated renewable energy generation facility. The firm capacity of both the BESS and renewable generation facility will be determined and verified in accordance with…

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