Category: Latest News

SINGAPORE: Saudi Arabia plans to store crude oil at Singapore’s Jurong Rock Caverns from the second half of 2027 to strengthen regional supply security and improve the resilience of energy supplies to Asian markets, energy ministers from both countries announced on Monday. The move comes amid major disruptions to energy supplies following the US-Israeli war with Iran, which affected shipments through the Strait of Hormuz and prompted countries to draw down inventories, raising concerns over global oil stockpiles. Before the conflict, Asia sourced around two-thirds of its oil imports from…

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PESHAWAR: Peshawar Electric Supply Company (PESCO) Chief Executive Officer Engineer Akhtar Hameed Khan has warned underperforming officers of strict departmental action if they fail to improve their performance within the next three months. He issued the warning while chairing a meeting to review the performance of PESCO’s Mardan and Swabi circles, where he directed officials to ensure uninterrupted electricity supply, resolve consumer complaints promptly, curb electricity theft, recover outstanding dues and reduce line losses. During the meeting, field officers presented detailed briefings on the performance of their respective circles, divisions…

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ISLAMABAD: Around 31,000 consumers have faced difficulties redeeming subsidies under the government’s petrol relief scheme, prompting authorities to address technical glitches, expired tokens and complaints of service refusal at fuel stations. The scheme was introduced last month to provide relief to motorcycle, rickshaw and small-car owners amid elevated international oil prices. However, implementation issues have raised concerns about whether eligible consumers are receiving the intended benefits. According to sources, the matter was discussed at a high-level meeting, where officials reported that 10,344 subsidy tokens had expired. The minister for petroleum…

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ISLAMABAD: The estimated cost of Pakistan’s under-construction Mohmand Dam has surged to Rs666 billion, marking a 115 per cent increase from the original Rs310 billion approved in 2018, largely due to rupee depreciation, design changes, flood damage and security-related delays. The revised project cost was presented to the Central Development Working Party (CDWP) this week. However, the forum deferred consideration of the proposal due to a shortage of time, according to federal government officials. The project’s revised cost will require further scrutiny before consideration by the Executive Committee of the…

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ISLAMABAD: The Water and Power Development Authority (WAPDA) and the Special Communications Organization (SCO) have signed two agreements worth a combined Rs14.06 billion for the development of Safe City projects in Dasu and Chilas. The signing ceremony was held at WAPDA House and witnessed by WAPDA Chairman Lt Gen Muhammad Saeed (Retd) and SCO Director General Maj Gen Sajjad Haider Khan. WAPDA Member (Water) Asim Rauf Khan, Diamer Basha Development Company Chief Executive Officer Dr Nazakat Hussain, and senior officials from both organisations also attended the ceremony. The agreement for…

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