Category: Latest News

Govt Orders Clearance of 1,355 Pending Solar Net-Metering Cases

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Net-Metering

ISLAMABAD: Taking serious notice of prolonged delays in the energisation of net-metered solar connections, the Power Division has directed all ex-Wapda distribution companies (Discos) to clear a backlog of 1,355 pending applications within the next 10 days. According to official directives, the pending cases relate to applications submitted before February 8, which have remained unresolved for over six months amid changes in prosumer regulations. The issue was highlighted by the Power Information Technology Company (PITC), a subsidiary of the Power Division, which reported that Discos had been unnecessarily delaying net-metering…

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AIIB Signals Interest in Pakistan’s Road and Power Sectors, Explores $100–150m Investment Pipeline

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AIIB

ISLAMABAD: The Asian Infrastructure Investment Bank (AIIB) has expressed interest in expanding cooperation with Pakistan in road infrastructure and the power sector, with a potential investment pipeline of $100–150 million, according to official sources. AIIB Vice President Konstantin Limitovskiy held separate meetings with Federal Minister for Communications Abdul Aleem Khan and Power Minister Sardar Awais Ahmed Khan Leghari to discuss ongoing and future infrastructure and energy development projects. During the meeting, Abdul Aleem Khan outlined the government’s plan to complete key transport projects within two years, highlighting the Karachi–Hyderabad and…

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Petroleum Division Proposes Rs1 Trillion Levy Cap, Seeks Fuel Tax Relief Ahead of Budget 2026-27

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Pakistan Petroleum Ltd makes third discovery in Sujawal

ISLAMABAD: The Petroleum Division has proposed reducing the petroleum levy collection target to Rs1 trillion for the next fiscal year and lowering the levy rate on petrol and diesel to Rs50 per litre, citing rising global oil prices and worsening affordability concerns for consumers. In its budget 2026-27 recommendations submitted to the Ministry of Finance, the division warned that high fuel taxes are intensifying inflationary pressures and creating social and economic stability risks. It argued that reliance on petroleum levies should be reduced, particularly amid volatility driven by geopolitical tensions…

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OGDC Secures Eight Offshore Blocks Under Bid Round 2025

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New-OGDCL1

ISLAMABAD, May 21, 2026: Oil and Gas Development Company Limited (OGDC), Pakistan’s largest exploration and production company, has secured eight offshore exploration blocks under the Offshore Bid Round 2025, marking a major expansion of its exploration portfolio. The Government of Pakistan has reopened its offshore exploration frontier after nearly two decades through the signing of Production Sharing Agreements (PSAs) and Exploration Licences (ELs) under the Offshore Bid Round 2025. The signing ceremony was held at the Ministry of Petroleum in Islamabad and was witnessed by Federal Minister for Petroleum Ali…

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Iranian Fuel Smuggling Resurges Amid Regional Tensions, Threatening Local Refineries

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ISLAMABAD: The inflow of smuggled petroleum products from Iran into Pakistan has surged again amid heightened regional tensions, raising serious concerns for local refineries and energy sector stakeholders. Industry sources say the situation has worsened over the past two months, coinciding with disruptions in global energy routes and volatility linked to developments around the Strait of Hormuz. The spike in global oil prices has also increased pressure on Pakistan’s import bill and domestic fuel market. Pakistan’s weekly oil import cost has reportedly jumped from around $300 million to nearly $800…

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