Category: Latest News

ISLAMABAD: The government is intensifying efforts to persuade Chinese Independent Power Producers (IPPs) operating under the China-Pakistan Economic Corridor framework to sign renegotiated settlement agreements, similar to those accepted by other IPPs, in order to unlock the remaining amount from a Rs1.225 trillion financing facility arranged through commercial banks. According to informed sources, the National Energy Task Force — headed by Federal Minister for Power Sardar Awais Ahmed Khan Leghari and comprising Adviser to the Prime Minister on Privatisation and Lt Gen Zafar Iqbal — has finalised its recommendations regarding…

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ISLAMABAD: Pakistan State Oil (PSO) on Sunday announced a major reduction in jet fuel prices, lowering the rate by Rs111.44 per litre in a move expected to ease operational costs for airlines and potentially reduce domestic and international airfares. According to the company’s latest pricing update, jet fuel prices have been reduced to Rs330.22 per litre. Aviation industry officials believe the substantial decrease could provide significant financial relief to airlines facing rising operational expenses and may lead to lower ticket prices in the coming weeks. Meanwhile, the government also revised…

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ISLAMABAD: Pakistan on Sunday expressed “utmost satisfaction” over a supplemental award issued by the Permanent Court of Arbitration in proceedings related to the Indus Waters Treaty, stating that the ruling reaffirmed substantive limits on India’s ability to control water flows on the western rivers of the Indus basin. The award concerns disputes over the design and maximum pondage capacity of the Ratle Hydroelectric Plant and the Kishenganga Hydroelectric Project in occupied Kashmir. Maximum pondage refers to the volume of water that can be stored in a reservoir for operational purposes.…

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ISLAMABAD: Pakistan could reduce its industrial energy expenditure by more than 36 percent and slash greenhouse gas emissions by over 50 percent by 2050 through large-scale industrial electrification, according to a new study jointly conducted by Berlin-based Agora Energiewende and Islamabad-based Policy Research Institute for Equitable Development (PRIED). The report presents a roadmap for transitioning industries away from fossil fuels, particularly natural gas, toward electricity-powered technologies and renewable energy solutions. According to the study, industries such as food and beverages, textiles, paper and pulp, and fertilisers offer the strongest near-term…

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Global oil prices climbed sharply on Monday, reaching their highest levels in nearly two weeks, as escalating tensions in the Middle East intensified fears of supply disruptions across the Gulf region. Brent crude futures rose by $2.01, or 1.84 percent, to $111.27 per barrel by 0432 GMT, after earlier touching $112 — the highest level since May 5. Meanwhile, US West Texas Intermediate (WTI) crude gained $2.33, or 2.21 percent, to trade at $107.75 per barrel, after hitting an intraday high of $108.70, its strongest level since April 30. Both…

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