Category: Latest News

Nepra Notifies New Performance Standards for Distribution Companies

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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has notified comprehensive new performance standards for electricity distribution companies (Discos), introducing mandatory consumer compensation, stricter service deadlines and heavy fines for failures. The Performance Standards (Distribution) Regulations 2026, issued after nearly two years of consultation with stakeholders, replace the Discos Performance Rules 2005. The new framework aims to improve consumer protection, power supply quality, safety and accountability, particularly as the government moves ahead with the privatisation of distribution companies. Under the new regulations, Discos will face mandatory compensation to consumers, in…

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Petroleum Minister Urges SSGCL Board to Strengthen Sustainability, Address Governance Challenges

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KARACHI: August 27,2026 Federal Minister for Petroleum Ali Pervaiz Malik has directed the Board of Sui Southern Gas Company Limited (SSGCL) to develop a comprehensive strategy and sustainable business model with special focus on UFG control to transform SSGCL into a financially viable organization, with public service as the foremost priority. The Federal Minister chaired a meeting with the Chairman and Board of Directors, Managing Director and senior management of SSGCL in Karachi to review the company’s performance, key achievements, operational challenges and future reform priorities. The Chairman SSGCL Board…

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FPCCI Conducted Roundtable Session with High-Profile Stakeholders on Adopting Cashless Economy

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Karachi: Mr. Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), has expressed his satisfaction on FPCCI hosting a very-well-attended and interactive roundtable session today with high-profile stakeholders from key federal and provincial government institutions, and multi-sectoral private-sector representatives. Mr. Atif Ikram Sheikh apprised that the roundtable focused on the transition to a cashless economy. The session, held at the FPCCI Head Office, Federation House Karachi, convened key stakeholders from the business community, the State Bank of Pakistan (SBP), the Federal Board of Revenue…

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Petroleum Division Kicks Off Strategic Reserves Study as Wood Mackenzie Wins Competitive Tender

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ISLAMABAD, August 25, 2026: Federal Minister for Petroleum Ali Pervaiz Malik today chaired the kick-off meeting for the feasibility study on establishing Strategic Petroleum Reserves (SPR) in Pakistan, with international energy consultancy M/s Wood Mackenzie selected to undertake the study following a competitive tender process in which four bids were received. The Minister was briefed on the scope and objectives of the study, following which the meeting discussed and agreed on the timelines and overall architecture for the assignment. The Minister highlighted that the Government is pursuing reforms and initiatives…

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OGDCL Senior Management Salaries and Perks Presented in Senate

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ISLAMABAD: Details of salaries, positions and benefits of senior management of Oil & Gas Development Company Limited (OGDCL) were presented in the Senate, revealing that the company’s top executives receive monthly basic salaries running into millions of rupees. According to the details presented before the Senate, OGDCL Managing Director Ahmed Hayat Lak receives a basic monthly salary of Rs5.564 million (Rs5.564 million), while Chief Financial Officer Muhammad Anis Farooq draws Rs2.837 million per month. Executive Director Amir Saleem receives a monthly salary of Rs2.2 million, while Executive Director HR Shehzad…

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