Category: Latest News

ISLAMABAD: The Auditor General of Pakistan (AGP) has recommended restructuring the operational framework of Pakistan’s public-sector power distribution companies (DISCOs) to align with the commercial model followed by K-Electric, which operates under a ring-fenced structure and does not contribute to the country’s growing circular debt. According to audit observations, the model adopted by K-Electric ensures that operational inefficiencies are absorbed within the company’s own balance sheet rather than being passed on to the national power supply chain or electricity consumers. The recommendation refers to the strategic plan for the privatisation…

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LAHORE: Punjab Chief Minister Maryam Nawaz held a meeting with Federal Finance Minister Muhammad Aurangzeb and Federal Minister for Petroleum Ali Pervaiz Malik to review the fuel supply situation and assess the potential impact of the ongoing regional conflict on petroleum availability in the province. During the meeting, participants examined the supply, demand and existing reserves of petroleum products in Punjab. They also discussed measures aimed at maintaining a balance between fuel demand and supply in view of the evolving global energy situation. The participants agreed to adopt a fuel…

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ISLAMABAD: The Government of Khyber Pakhtunkhwa has urged the federal government to ensure stronger provincial participation in the under-development Integrated Energy Plan (IEP), stressing the need to prioritise hydropower development, strengthen transmission infrastructure in the province, and establish transparent revenue-sharing mechanisms in line with the spirit of the Eighteenth Amendment to the Constitution of Pakistan. The proposals were submitted by the Additional Secretary (Oil & Gas), Energy and Power Department of KP to the Power Division of Pakistan in response to its letter dated February 23 and following a meeting…

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ISLAMABAD / LAHORE: Prime Minister Shehbaz Sharif is expected to unveil a national austerity plan today (Monday) to address the economic fallout from the escalating Middle East conflict that has disrupted global energy markets and pushed fuel prices higher. The move comes after the government increased petrol and high-speed diesel prices by Rs55 per litre last week — the largest hike in recent history — as Pakistan felt the first direct economic impact of the ongoing conflict involving the United States, Israel and Iran. According to the Prime Minister’s Office,…

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