Category: Latest News

World Bank Approves $379m Loan to Modernise Pakistan’s Power Transmission Grid

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World-Bank

ISLAMABAD: The World Bank’s lending arm, the International Bank for Reconstruction and Development (IBRD), has approved a $378.9 million loan to support a major overhaul of Pakistan’s power transmission system, aimed at strengthening grid stability, improving energy security, and enabling large-scale integration of renewable energy. The project focuses on upgrading critical transmission infrastructure, particularly through the installation of reactive power management devices. These systems are essential for stabilising the grid and facilitating the smooth evacuation of electricity from variable renewable energy sources such as wind and solar. The initiative will…

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Diesel Price Raised by Rs11.30 per Litre, Petrol Price Held Steady

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petrol-price

ISLAMABAD: The federal government has increased the price of high-speed diesel (HSD) by Rs11.30 per litre for the next fortnight, while keeping petrol prices unchanged, according to a notification issued by the Petroleum Division on the recommendation of the Oil and Gas Regulatory Authority (Ogra). With the latest adjustment, the price of HSD has been fixed at Rs268.38 per litre until February 15, up from Rs257.08 during the previous 15-day period. Petrol prices, however, will remain unchanged at Rs253.17 per litre. Officials attributed the hike in diesel prices to rising…

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Solarising Pakistan: The clean energy surge that can power industrial revival, economic sovereignty

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Karachi: At a time when Pakistan’s economy is straining under the weight of crippling energy costs, capacity payments, and an unsustainable reliance on imported fuels, a powerful counter-narrative is rapidly gaining momentum: solar energy is no longer an alternative—it is an inevitability. This unmistakable message resonated forcefully at the Pakistan Solar Association’s (PSA) annual dinner in Karachi, a landmark event that underlined the sector’s growing confidence, unity, and strategic clarity. The PSA reaffirmed its unwavering resolve to extend full support to stakeholders across government, energy, business, and industry to harness…

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Leghari Says Relief Package Eliminates Industrial Power Bill Burden

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Leghari

ISLAMABAD: Federal Minister for Power Division Sardar Awais Ahmed Khan Leghari on Friday said the government has reduced electricity tariffs for industrial consumers by Rs4.04 per unit under a special relief package announced by Prime Minister Shehbaz Sharif. In a statement, the minister said the financial burden on industrial electricity bills, which stood at Rs8.90 per unit at the beginning of the current government’s tenure, has now been brought down to zero. He added that the move would also result in a reduction in wheeling charges, with industries benefiting from…

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Saudi Wafi Energy Partners Hyundai to Supply Lubricants for Vehicles in Pakistan

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New-Project44

ISLAMABAD: Saudi Arabia’s Wafi Energy Pakistan Limited on Wednesday announced a strategic agreement with Hyundai’s official manufacturing partner in Pakistan to supply premium lubricants for Hyundai vehicles across the country. Wafi Energy, an affiliate of the Asyad Group, became the majority shareholder of Shell Pakistan Limited (SPL) in November 2024 and currently holds about 87.78 per cent of the company’s issued share capital. Shell Pakistan, one of the country’s oldest multinationals, operates a nationwide network of more than 600 retail sites, extensive storage facilities and a broad portfolio of globally…

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