Category: Latest News

Islamabad — The National Electric Power Regulatory Authority (NEPRA) has approved a Distribution Investment Plan (DIP) worth Rs42.577 billion for Peshawar Electric Supply Company (PESCO) for the 2025–2029 period, substantially lower than the utility’s original and revised investment proposals. PESCO had initially submitted its DIP to NEPRA on February 27, 2025, for the Multi-Year Tariff (MYT) control period covering FY2025-26 to FY2029-30, proposing total investments of Rs123.808 billion. The company planned to finance the projects through internal resources and borrowings after approval from its Board of Directors. The proposed investment…

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Pakistan Petroleum Limited (PPL) has successfully commissioned the Faiz X-1 Deep (Basal Sand) well in Sanghar after the project remained undeveloped for more than a decade due to infrastructure constraints. The leading oil and gas exploration and production company disclosed the development in a notice submitted to the Pakistan Stock Exchange (PSX) on Friday. “We, the operator of Gambat South Block, are pleased to announce the successful commissioning of Faiz X-1 Deep (Basal Sand) well,” the company stated. According to PPL, the well was originally drilled in 2014, but the…

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Cebu — Leaders of the Association of Southeast Asian Nations (ASEAN) concluded their summit on Friday with a renewed call to accelerate ratification of a regional oil-sharing framework, as member states grapple with the growing economic fallout from the Middle East conflict and disruptions in global energy supplies. The summit, hosted in Cebu, focused heavily on the unprecedented energy crisis triggered by the effective closure of the Strait of Hormuz, a vital maritime route that previously handled nearly one-fifth of the world’s oil and gas shipments and around 130 vessels…

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Islamabad — The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged the National Electric Power Regulatory Authority (NEPRA) to conduct an independent capacity audit of Pakistan’s existing power generation fleet before approving any new projects proposed under the Indicative Generation Capacity Expansion Plan (IGCEP) 2025–35. In its comments submitted on the Integrated System Plan (ISP) 2025–35 — which includes the IGCEP and Transmission System Expansion Plan (TSEP) — FPCCI argued that Pakistan’s power sector crisis stems not from a shortage of generation capacity, but from poor utilisation,…

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Islamabad — The government is preparing to exempt machinery imports for refinery upgrades from sales tax in a major move aimed at unlocking nearly $6 billion in investment in Pakistan’s oil refining sector. The decision is expected to revive the long-delayed Brownfield Refinery Policy, which has remained stalled for the past two years due to tax and regulatory uncertainties affecting refineries and financing institutions. Sources said the government is also considering the inclusion of a “stability clause” in agreements between the Oil and Gas Regulatory Authority (Ogra) and refineries to…

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