Category: Latest News

ISLAMABAD: The Oil Companies Advisory Council (OCAC) has expressed serious reservations over reported government plans to review inventory gains and introduce a cross-subsidy mechanism in the petroleum sector, warning that such measures could undermine energy security and destabilise market operations. In a letter addressed to the Federal Secretary, Ministry of Energy (Petroleum Division), the OCAC said recent media reports regarding the formation of a high-level committee to examine the recovery of inventory gains have created uncertainty in the industry, despite the absence of any formal communication from authorities. The council…

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ISLAMABAD: The Foreign Office (FO) on Thursday strongly rejected India’s reported plan to construct a river-linking project aimed at diverting water from the Chenab River to the Beas River, terming it a “grave violation” of the Indus Waters Treaty (IWT) and relevant international legal frameworks. FO spokesperson Tahir Andrabi, while addressing the weekly media briefing, said Pakistan has “all options available” to safeguard its water rights and national interests under the treaty. He stated that India has neither officially communicated nor consulted Pakistan regarding the proposed projects, adding that such…

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ISLAMABAD: Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry on Friday warned of an emerging underwater heat emergency in the Arabian Sea, calling for immediate and coordinated climate action to protect coastal communities, fisheries, and maritime infrastructure. In a statement issued on Climate Day, the minister said nature offers sustainable solutions to the climate crisis but stressed that urgent action is needed to safeguard ecosystems from escalating environmental stress. He noted that sustained sea-surface temperatures in the northern Arabian Sea have exceeded the 90th percentile across more than 30…

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ISLAMABAD: The federal government has earmarked approximately Rs179 billion for around 44 water sector and hydropower development schemes under the Public Sector Development Programme (PSDP) 2026–27, including 43 ongoing and one new project, amid continued fiscal constraints. According to the Ministry of Planning, Development and Special Initiatives, the total allocation includes around Rs106.62 billion in local funding requirements and Rs72.37 billion in rupee cover obligations. For ongoing hydropower projects, about Rs42.66 billion has been set aside. Major allocations include Rs25 billion for the Dasu Hydropower Project (Stage-I), Rs4.28 billion for…

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ISLAMABAD: The Special Investment Facilitation Council (SIFC) has initiated high-level engagements with a visiting Saudi delegation led by Chairman of the Pakistan-Saudi Joint Business Council, Prince Mansour, aimed at expanding investment cooperation across multiple sectors of Pakistan’s economy, according to well-informed sources in the Ministry of Energy. The visit, scheduled from June 4–5, 2026, includes a series of government-to-government (G2G), government-to-business (G2B), and business-to-business (B2B) meetings focused on infrastructure, energy, agriculture, real estate, and logistics development. Official documents indicate that the SIFC Secretariat has instructed relevant ministries and departments to…

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