Category: Popular News

Pakistani Energy Consortium Inks Landmark Offshore Deal with ADNOC

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Energy-ADNOC

ISLAMABAD: In a significant boost for Pakistan’s energy sector, a consortium of major Pakistani oil and gas exploration firms has signed a landmark Production Concession Agreement (PCA) with the Abu Dhabi National Oil Company (ADNOC) for offshore hydrocarbon development in the United Arab Emirates (UAE). Mari Energies Limited (MARI) informed the Pakistan Stock Exchange (PSX) that the agreement pertains to Offshore Block 5, located 100 kilometres northeast of Abu Dhabi and spanning 6,223 square kilometres. The PCA was executed with the Supreme Council for Financial and Economic Affairs (SCFEA), ADNOC…

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Govt Plans to Lift Surcharge Cap on Power Bills via NEPRA Act Amendment

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Power-sector

ISLAMABAD: The federal government is preparing to amend the National Electric Power Regulatory Authority (NEPRA) Act to lift the existing 10% cap on electricity surcharges, enabling it to impose additional charges on power consumers, official sources revealed on Wednesday. The proposed legal amendment would grant the government broader authority to levy surcharges beyond the current limit, allowing for case-by-case tariff hikes and flexible duration of implementation. This change is aimed at addressing persistent financial challenges in the power sector. Officials disclosed that a proposal is under consideration to introduce an…

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Budget 2025-26: Govt Warns of Rs500bn Tax Burden if Parliament Blocks Enforcement Measures

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ECONOMIC-SURVEY

ISLAMABAD: Finance Minister Muhammad Aurangzeb on Wednesday issued a stark warning: Pakistan could face an additional tax burden of Rs400–500 billion if Parliament fails to pass key enforcement measures outlined in the 2025–26 federal budget — already approved by the International Monetary Fund (IMF). “I now request my colleagues in both houses of Parliament to get the enabling clauses for enforcement measures passed; otherwise, we would have to take Rs400–500bn additional tax measures,” Mr Aurangzeb said at a post-budget press conference. The soft-spoken minister hinted at possible resistance within the…

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Solar Industry Warns 18% GST on Imported Panels Could Derail Pakistan’s Clean Energy Progress

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KARACHI: Pakistan’s renewable energy sector has sounded the alarm over the government’s proposed 18% General Sales Tax (GST) on imported solar panels, cautioning that the move could reverse recent gains in clean energy adoption, raise electricity costs, and negatively impact consumers, businesses, and farmers. Solar energy has emerged as a critical alternative amid rising fossil fuel prices and mounting electricity bills. However, stakeholders argue that this tax threatens to make solar installations unaffordable, curbing demand and undermining the national energy transition. “An 18% GST on imported solar panels could derail…

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Govt rolls out plan for affordable electricity

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affordable electricity

Pakistan, June 11 — Federal Minister for Finance Senator Muhammad Aurangzeb on Tuesday said the government has developed a comprehensive plan to obtain affordable electricity, making cheaper power accessible in the coming days. During budget speech 2025-2026, he said, under this plan, savings of more than PKR 4,000 billion have been achieved, and 9,000 MW of expensive power plants, which were to be added to the national grid, have been abandoned. He informed that for 18 million deserving and protected consumers, electricity prices have been reduced by over 50%..He added…

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