Category: Shortcode

Minister Warns of Gas Price Misuse, Calls for Transparent Mechanism

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Gas-OGDCL

ISLAMABAD: A key cabinet minister has raised concerns over the potential misuse of cheaper industrial gas for power generation, cautioning that captive power plant (CPP) owners might exploit loopholes or seek legal stay orders to avoid the recent price hike. Minister of State for Finance, Ali Pervaiz Malik, has urged the government to introduce a transparent mechanism to prevent industries from using Rs2,150/MMBtu industrial gas instead of the newly raised Rs3,500/MMBtu gas meant for CPPs. He warned that the current system allows for such manipulation. This development follows revelations that…

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Govt Eyes Rs55bn Windfall from Gas Tariff Hike for CPPs

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OGRA-GAS

ISLAMABAD: The government is set to collect over Rs55 billion in prior year adjustments (PYA) during FY25, following a Rs500/MMBtu increase in gas tariffs for captive power plants (CPPs), aligning with IMF-mandated reforms. The tariff hike from Rs3,000/MMBtu to Rs3,500/MMBtu has pushed the weighted average gas tariff to Rs1,722/MMBtu, with an expected annual average of Rs1,689/MMBtu, according to Hamdan Ahmed, an analyst at Optimus Capital Management. The Oil and Gas Regulatory Authority (OGRA) has also based its revenue estimates on an assumed oil price of $81.8/bbl, higher than the FYTD25…

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Petroleum Prices Likely to Rise Again Amid Global Market Trends

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Petrol-Diesel

ISLAMABAD: Petrol, high-speed diesel (HSD), and kerosene prices are expected to increase by up to Rs6 per litre on February 1, driven by rising international oil prices. According to sources, petrol prices could see a Rs2-3 per litre hike, while HSD and kerosene may rise by around Rs6 per litre based on the latest calculations. The increase follows a $2 per barrel surge in Brent crude prices over the past fortnight. HSD prices in the global market have risen by over $2.50 per barrel, whereas petrol prices saw a 50-cent…

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Nestlé Pakistan wins top Climate Champion Award at the 1st OICCI Climate Excellence Awards

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Nestle

KARACHI: Nestlé Pakistan’s efforts towards climate action, sustainability, renewable energy and regenerative agriculture were recognized at the 1st OICCI Climate Excellence Awards, as it won the top Climate Champion Award, held during the two-day 3rd Pakistan Climate Conference 2025. Chief guest at the conference Chief Minister Sindh Syed Murad Ali Shah, emphasized the importance of climate change and urged organizations to step forward and play a greater role with the government to mitigate this challenge. Acknowledging Nestlé’s role, the chief minister said, “While visiting the conference stalls I was glad…

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SIFC Proposal on Saudi Investment: High-Level Meeting on KE Issues Today

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K-Electric1

ISLAMABAD: Finance Minister Senator Muhammad Aurangzeb has convened an inter-ministerial meeting on Wednesday (Jan 29) to discuss key issues related to K-Electric (KE), following a proposal by the Special Investment Facilitation Council (SIFC), which is addressing Saudi investment-related concerns. Key Issues on the Agenda:Generation tariff approval.Transmission, distribution, and supply tariff under review.KE’s Rs 68 billion write-off claims pending NEPRA verification.Shareholding dispute between Al-Jomaih and Asia Pak.Mediation agreements involving KE and government entities.The meeting will be attended by Power Minister Awais Leghari, Economic Affairs Minister Ahad Khan Cheema, SAPM on Power…

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