Category: Latest News

Pakistan to Host Next SCO Summit, Announces PM Shehbaz

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Shahbaz-sharif2

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday announced that Pakistan will host the next Shanghai Cooperation Organisation (SCO) summit, directing authorities to begin preparations immediately. The announcement comes less than two weeks after the recently concluded SCO Summit in Tianjin, China, where Pakistan raised the issue of the Indus Waters Treaty and endorsed a joint declaration condemning terrorist attacks on the Jaffar Express, Khuzdar, and Pahalgam. Speaking at a ceremony in Islamabad, the prime minister stressed the need for early arrangements. “We have to start preparing now. We need to…

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Rs105bn Off-Grid Levy Undermined as Industrial Gas Use Collapses

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OGRA-GAS

ISLAMABAD: The government’s much-touted off-grid levy on captive power plants (CPPs) has failed to deliver the expected windfall, with revenue collections set to fall drastically short of the Rs105 billion target as industrial gas consumption plunges. For April, May, and June 2025, the levy was fixed at Rs570, Rs550, and Rs402 per MMBTU respectively. Yet official data shows gas usage by CPPs has collapsed—from 150 mmcfd to just 26 mmcfd in the SNGPL region, and from 200 mmcfd to 95 mmcfd elsewhere—against budget assumptions of 350 mmcfd. The shortfall stems…

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PM Seeks IMF Approval for Power Bill Waiver in Flood-Hit Areas

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New-IMF

ISLAMABAD/LAHORE/SUKKUR: Prime Minister Shehbaz Sharif has directed the Ministry of Finance to seek the International Monetary Fund’s (IMF) approval for a one-month exemption from electricity bills for households devastated by recent floods across Pakistan. He stressed the urgency of immediate relief, asking the ministry to begin talks with the IMF without delay. Officials said the relief would apply across all flood-hit regions, urban and rural, to ease the burden on disaster-stricken families. Meanwhile, the Punjab government has requested deployment of 1,710 Pakistan Army personnel to assist civil authorities in post-flood…

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APTMA, US Envoy Explore Cotton, Textile Cooperation to Boost Bilateral Trade

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LAHORE: Acting US Ambassador to Pakistan Natalie A. Baker met with the leadership of the All Pakistan Textile Mills Association (APTMA) to discuss strengthening bilateral trade and investment, particularly in cotton and textiles. She was accompanied by US Consul General Lahore Stetson Sanders, Political and Economic Chief William Campbell, and Economic Specialist Amna Anis. APTMA Chairman Kamran Arshad, along with senior office bearers, highlighted the challenges facing Pakistan’s textile sector, which contributes 62% of the country’s total exports. He noted that Pakistan’s declining domestic cotton production has increased reliance on…

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Power Division Unveils Draft Auction Process for Electricity Wheeling

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Power-Division

ISLAMABAD: The Power Division has finalized a draft framework for conducting electricity wheeling auctions under the Competitive Trading Bilateral Contract Market (CTBCM), with the proposal set to be discussed at a stakeholders’ workshop on September 19, 2025. Prepared under Clause 3.2 of the Framework Guidelines for Wheeling Auctions 2025, the draft lays out a detailed two-step process—submission of proposals followed by bidding—for eligible participants. The Independent System and Market Operator (ISMO) will publish an annual auction calendar, specifying timelines for requests for proposals (RFPs), eligibility evaluations, grievance redressal, and bid…

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