Category: Shortcode

$5 Billion Investment Announced for Pakistan’s Oil and Gas SectorLocal and International Firms Brief PM Shehbaz on 3-Year Exploration Plan240 Potential Sites to be ExcavatedCommittee Led by Ishaq Dar to Formulate New Policy

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Ishaq-Dar

ISLAMABAD: Local and international firms have pledged a $5 billion investment in Pakistan’s oil and gas exploration and production (E&P) sector over the next three years. This announcement was made during a meeting chaired by Prime Minister Shehbaz Sharif at PM House on Saturday. A delegation from the oil and gas sector informed the Prime Minister that the investment will be used to explore around 240 potential reserve sites within the next three years. In response, PM Shehbaz constituted a committee led by Deputy Prime Minister Ishaq Dar. This committee,…

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Interior Minister Orders FIA to Address Overbilling of Lifeline Power UsersSwift Legal Action Demanded Against Responsible Officers and StaffImmediate Redressal for Consumers Using Up to 200 Units

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free-power

LAHORE / RAWALPINDI: Responding to increasing complaints of overbilling from protected electricity consumers, Minister for Interior and Narcotics Control Mohsin Naqvi has ordered immediate legal action against the officers and staff involved in this malpractice. In a press release issued on Sunday, the minister directed all FIA directors to address the injustices faced by electricity consumers using up to 200 units. He emphasized that categorizing protected consumers as non-protected is a criminal act that will not be tolerated. Mr. Naqvi highlighted that overbilling has imposed an additional financial burden of…

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Gepco and Mepco Under Fire for Circuit Breaker Purchases from Blacklisted Firms Engineers Highlight Misconduct in Gepco and Mepco PurchasesMinistry Demands Reports from Distribution Companies

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power-fleet

LAHORE: The Ministry of Energy has expressed concern over the procurement of 132kV circuit breakers worth millions of rupees by distribution companies (Discos) from blacklisted firms via local suppliers. The ministry has directed all Discos to submit detailed reports on these transactions. This directive follows formal complaints from engineering associations within Gujranwala Electric Power Company (Gepco) and Multan Electric Power Company (Mepco). The complaints highlighted significant issues with these purchases, as reported by Dawn. An anonymous official condemned Gepco and Mepco for issuing purchase orders to local firms that procure…

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Sindh Govt to Showcase Energy Projects at IEEEP Fair to Attract Investment

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Nasir-Shah

KARACHI: Sindh Minister of Energy, Syed Nasir Hussain Shah, announced that the provincial energy department will exhibit its ongoing and upcoming projects at the 13th edition of the Institute of Electrical and Electronics Engineers Pakistan (IEEEP) Fair. The event, set to take place at Karachi Expo Centre in September, aims to draw investment and encourage joint ventures and partnerships for the country’s economic growth. Speaking as the chief guest at the soft launch ceremony, Minister Shah emphasized the government’s commitment to this initiative, highlighting the collaboration with the ministries of…

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Government Grants Six-Month Extension for Refineries to Sign Upgrade Agreements

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PRL-eyes

ISLAMABAD: The Cabinet Committee on Energy (CCoE), chaired by Prime Minister Shehbaz Sharif, has extended the deadline for local refineries to sign implementation agreements (IAs) with the Oil & Gas Regulatory Authority (OGRA) for their $5-6 billion upgrade projects by an additional six months. This extension, granted under the amended brownfield refineries’ policy of 2023, aims to accommodate the country’s two largest refineries – Pak-Arab Refinery Company (PARCO) and Cnergyico – which contribute over 50% of the nation’s refining output. The new deadline allows these refineries more time to finalize…

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