ISLAMABAD: In an unprecedented move, the Petroleum Division has engaged leading audit firm KPMG to determine which categories of domestic gas consumers will face a price hike starting July 1, 2025, under a broader reform agenda aligned with IMF conditions. A senior Energy Ministry official confirmed that it is the first time an external consultancy has been tasked with advising the government on sale gas price adjustments. KPMG’s recommendations will guide which consumer slabs should absorb the increase, ensuring zero financial shortfall for state-owned gas utilities. This development follows Ogra’s…
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Pakistan Seeks Russian Investment in Mining Sector at SPIEF 2025
ISLAMABAD: Federal Minister for Energy Ali Pervaiz Malik is leading Pakistan’s delegation to the St. Petersburg International Economic Forum (SPIEF) 2025, where he is actively pursuing Russian investment in Pakistan’s mining sector. During key bilateral meetings on the sidelines of the forum, Malik met with Russian Energy Minister Sergei Tsivilev, who also co-chairs the Pakistan-Russia Inter-Governmental Commission (IGC). Both sides discussed deepening cooperation in energy, trade, investment, banking, insurance, mining, and people-to-people exchanges. Russia reaffirmed its interest in enhancing bilateral ties and welcomed the upcoming 10th session of the IGC,…
Read MoreAuto Industry Calls Govt’s 30% EV Target by 2030 ‘Ambitious but Unrealistic’
LAHORE: Pakistan’s auto industry has raised serious concerns over the federal government’s target of achieving 30% electric vehicle (EV) penetration by 2030, calling the goal both ambitious and daunting for a country grappling with economic challenges. Industry veteran Jamil Asghar, with over three decades of experience in the motorcycle sector, questioned the feasibility of the target by drawing comparisons with India’s experience. He noted that despite massive financial interventions over the past decade — including FAME I and II schemes and the recent PM-EDRIVE initiative — India’s EV penetration remains…
Read MoreGovt Seeks IMF Nod to Impose GST on Petroleum Amid \$6bn Refinery Investment Deadlock
ISLAMABAD: The Special Investment Facilitation Council (SIFC) has directed the Ministry of Finance to urgently obtain approval from the International Monetary Fund (IMF) for the imposition of General Sales Tax (GST) on petroleum products — a key measure tied to unlocking \$6 billion in refinery upgrade investments. Despite earlier commitments, the proposed 5% GST on petroleum was not included in the Finance Bill 2025, raising alarms in the oil industry and stalling long-term planning under the Pakistan Oil Refining Policy for Upgradation of Existing Refineries (2023). Industry stakeholders, particularly the…
Read MoreGovt Unveils NEV Policy 2025–30 with Rs9bn Subsidy for E-Bikes, Rickshaws
ISLAMABAD: The federal government on Thursday launched the National Electric Vehicle (NEV) Policy 2025–30, aiming to revolutionise Pakistan’s transport sector through clean energy, industrial growth, and environmental sustainability. The policy sets an ambitious target: 30% of all new vehicle sales to be electric by 2030. This shift is expected to save 2.07 billion litres of fuel annually, equivalent to nearly \$1 billion in foreign exchange, while also reducing carbon emissions by 4.5 million tonnes and cutting healthcare costs by \$405 million each year. As part of its implementation, the government…
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