Category: Shortcode

Leghari Concedes High Power Tariff in Senate, Promises Reforms

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Awais-Leghari

ISLAMABAD – Energy Minister Awais Leghari acknowledged in the Senate on Thursday that electricity prices are currently high but assured that through reforms, the government aims to provide cheaper electricity to consumers within the next 18 months. During the question-answer session, Minister Leghari addressed circulating news about a federal cabinet decision to increase electricity rates. He clarified that the regulator sets the average price for the entire year every June. “Given the average hike rates last June, the cabinet, with Prime Minister Shehbaz Sharif’s directive, decided not to place the…

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New Electricity Tariffs: How Much Will Your Bill Increase?

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Your-Bill

ISLAMABAD – The Power Division has announced the implementation of new electricity tariffs starting from July 2024. Most consumers will see a slight increase in their monthly bills due to the updated tariffs, with the government providing a substantial subsidy of Rs440 billion to mitigate the impact. In a statement, the Power Division detailed that for the 16.8 million (58%) poorer domestic consumers, the increase will be less than 2%. In contrast, the relatively wealthier 42% of consumers will see an average increase of 9%. Despite the immediate increases, the…

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Mari Mining Secures Exploration Licenses in Chagai District

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New-Mari

KARACHI: The Directorate General of Mines and Minerals Balochistan has granted Mari Mining Company (Pvt) Limited (MMC) two exploration licenses for mineral exploration in Chagai District, Balochistan. In a notice sent to the Pakistan Stock Exchange (PSX) on Wednesday, MMC, a wholly owned subsidiary of Mari Petroleum Company Limited (MPCL), announced that it has been awarded exploration licenses EL-322 and EL-323. These licenses cover areas of 501.03 square kilometers and 512.76 square kilometers, respectively. Established by MPCL to spearhead mineral mining projects within Pakistan, MMC’s new licenses align with Mari’s…

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PPL Announces Significant Gas Discovery at Khairpur

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New-PPL

KARACHI: Pakistan Petroleum Limited (PPL) has announced a significant gas discovery from the exploratory well Tor-1 in the Latif Block, located in Khairpur District, Sindh Province. The Tor-1 well, operated by United Energy Pakistan Beta (UEP Beta) with a 33.40% working interest, along with joint venture partners PPL and Prime Pakistan Limited, each holding a 33.30% interest, successfully reached its target depth of 3,438 meters (measured depth) after being spud-in on May 5, 2024. According to material information sent to the Pakistan Stock Exchange on Tuesday, the well’s Wireline logs…

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Mari Petroleum Successfully Tests Fourth Appraisal Well in Sindh

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mari-petrolium

KARACHI: Mari Petroleum Company Limited (MARI) has successfully drilled and tested the fourth appraisal well in the Mari Ghazij Formation, located in the Mari Development and Production Lease (D&PL) in Sindh, as stated in a notice to the Pakistan Stock Exchange (PSX) on Monday. The notice read, “MARI has successfully drilled and tested the fourth appraisal well in the Ghazij formation (Ghazij discovery) in Mari D&PL.” This well is part of the appraisal program for the Ghazij discovery, which was initially disclosed on January 25, 2023. According to the notice,…

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