Category: Latest News

Islamabad, May 20, 2026. Federal Minister for Petroleum Mr. Ali Pervaiz Malik today witnessed the signing ceremony of Production Sharing Agreements (PSAs) and Exploration Licences (ELs) for offshore exploration blocks awarded under the Offshore Bid Round 2025, marking the formal reopening of Pakistan’s offshore frontier after nearly two decades. The awarded blocks are located in the Indus and Makran offshore basins adjoining the territorial waters of Sindh and Balochistan. The Offshore Bid Round 2025 attracted bids covering approximately 54,600 square kilometres of Pakistan’s offshore area, resulting in the award of…

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Karachi: Oil Marketing Companies (OMCs) have fallen short of petroleum uplift commitments from local refineries, despite repeated directives from the Oil and Gas Regulatory Authority (OGRA), according to industry sources. The shortfall relates to commitments made during the Product Review Meeting (PRM) for May, with supply data indicating that upliftment of petrol and high-speed diesel (HSD) remained below prorated targets in the first half of May 2026. Official figures up to May 17 show motor spirit (petrol) upliftment at 330,181 metric tonnes against a target of 357,274 tonnes, reflecting a…

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Karachi: Mayor Karachi Barrister Murtaza Wahab on Tuesday said that concrete steps are being taken to transform Karachi into a greener, more environmentally friendly and pollution-free city, as a large-scale urban forest initiative was inaugurated near the EBM Causeway along Shahrah-e-Bhutto. Speaking at the inauguration ceremony, the Mayor said the project would play an important role in improving air quality, reducing pollution, and providing citizens with a healthier urban environment. Under the initiative, around 10,000 trees have already been planted along the EBM Causeway, while the overall target is to…

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Karachi: The Provincial Assembly of Sindh on Tuesday approved several private members’ resolutions during Private Members’ Day, including a key proposal calling on the government to promote local industries manufacturing solar panels and modern energy storage batteries. The session, chaired by Speaker Syed Awais Qadir Shah, witnessed detailed debate on electricity outages, gas load-shedding, education concerns, workplace harassment, and environmental issues. Several motions were approved, while others were withdrawn after ministerial assurances. A resolution moved by Pakistan Tehreek-e-Insaf (PTI) lawmaker Sajjad Soomro urging the government to support industries producing solar…

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Islamabad: Electricity consumers across Pakistan, including customers of K-Electric, are expected to receive a relief of approximately Rs63.94 billion over the next three months, as the regulator reviews a quarterly adjustment request for the first quarter of 2026. The National Electric Power Regulatory Authority (NEPRA) on Tuesday held a public hearing on adjustment petitions submitted by distribution companies (DISCOs) for the January–March period. Initial estimates suggest a possible reduction of Rs1.93 per unit in electricity tariffs, with a final decision to be announced after completion of the regulatory process. According…

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