Category: Popular News

Sarawak to Host International Energy Week 2025, Cementing Role as Clean Energy Leader

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001-Project1

KUCHING – Sarawak will proudly host the 6th International Energy Week (IEW) 2025 from 15–17 July 2025 at the Borneo Convention Centre Kuching (BCCK), spotlighting the region’s emergence as a trailblazer in clean energy across Asia-Pacific. Under the compelling theme “From Sarawak to the World: Journey to Clean Energy Leadership,” the event will convene global energy leaders, policymakers, investors, and innovators to accelerate the global energy transition and forge a sustainable future. *YB Datuk Dr. Haji Hazland bin Abang Hipni, Deputy Minister for Energy and Environmental Sustainability Sarawak and Chairman…

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OPEC+ agrees further accelerated oil output hike for July

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LONDON/MOSCOW: OPEC+ agreed on Saturday to hike July oil output by 411,000 barrels per day (bpd), the same as in May and June, as the group of oil-producing countries continues to bring back supply more rapidly than earlier planned. Eight OPEC+ countries have been raising output faster than scheduled since May, even though the extra supply has weighed on prices. Group leaders Saudi Arabia and Russia are seeking partly to punish over-producing allies and to win back market share. On Saturday, the eight countries agreed to the July increase in…

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KE Proposes Govt Partnership to End Load-Shedding in Karachi

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Load-Shedding

KARACHI: K-Electric has proposed a collaborative formula to eliminate electricity load-shedding in Karachi, focusing on high-loss feeders that are responsible for most outages. Speaking to the Council of Economic and Energy Journalists (CEJ), KE CEO Moonis Alvi revealed that 300 out of the city’s 2,129 feeders contribute to 87% of power losses. He suggested that if the government takes over management and bill recovery in these high-loss areas, KE could move significantly closer to making Karachi a load-shedding-free city. Alvi stated that 70% of Karachi is already exempt from load-shedding.…

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IMF Pressure Forces Govt to Hike Gas Tariffs from July 1 to Curb Utility Deficits

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ISLAMABAD: Facing mounting pressure from the International Monetary Fund (IMF), the government has no choice but to raise gas sale prices from July 1, in line with conditions to eliminate deficits in the country’s gas utilities. Under the IMF-endorsed 2022 amendment, gas tariffs must be revised annually to ensure zero fiscal shortfall for Sui companies. As a result, a gas price hike is now imminent to address the Rs 40 billion deficit faced by Sui Northern Gas Pipelines Limited (SNGPL), according to a senior official in the Ministry of Energy.…

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Govt Finalizes Landmark Rs1.275 Trillion Loan Deal with Banks to Tackle Power Sector Debt

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Circular-Debt

ISLAMABAD: In a historic move to address Pakistan’s mounting circular debt in the power sector, the government has finalized a record loan agreement worth Rs 1.275 trillion with around 18 commercial banks. The deal, which comes after months of negotiations over term sheets and legal frameworks, now awaits final approval from the Federal Cabinet. The financing arrangement is part of the government’s broader circular debt reduction plan—endorsed by the International Monetary Fund (IMF)—and aims to offset a significant portion of the Rs 2.3 trillion debt, including Rs 700 billion currently…

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