Tag: ECC

ECC to Consider Revised Policy for Customs-Bonded Oil Storage

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ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet is set to consider revised policy guidelines for importing petroleum products on foreign suppliers’ accounts through customs-bonded storage facilities, as the government seeks to strengthen Pakistan’s energy security and build greater resilience in fuel supplies. The existing policy was approved in June 2023, but no foreign supplier has so far established a bonded storage facility under the framework. The government now plans to revise the policy in response to vulnerabilities highlighted by disruptions in the Strait of Hormuz and the need…

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Petroleum Dealers’ Margin Raised to Rs9.98 per Litre to Avert Nationwide Strike

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# Petroleum Dealers’ Margin Raised to Rs9.98 per Litre to Avert Nationwide Strike **ISLAMABAD:** The Economic Coordination Committee (ECC) of the federal cabinet on Friday approved a **15.5 per cent increase in the margins of petroleum dealers** on petrol and high-speed diesel (HSD), prompting the Pakistan Petroleum Dealers Association (PPDA) to call off its planned nationwide strike. Under the decision, dealers’ margins will rise by **Rs1.34 per litre**, from the existing Rs8.64 to **Rs9.98 per litre**, effective September 1, 2026. Finance Minister Muhammad Aurangzeb chaired the ECC meeting virtually, while…

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**LESCO Reduces NEPRA-Related Losses by Rs58 Billion in Two Years**

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  **LAHORE:** The Lahore Electric Supply Company (LESCO) has reduced its NEPRA-related financial gap from **Rs79 billion to around Rs21 billion** over the past two years, generating cumulative savings of more than **Rs58 billion** for the national exchequer. According to a statement issued by the Power Division on Friday, LESCO also achieved a **recovery rate of 101.05%**, surpassing the National Electric Power Regulatory Authority’s (NEPRA) regulatory benchmark of 100% for the first time in the company’s history. The utility further recorded a significant decline in distribution losses, bringing them down…

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**Seminar calls for affordable solar solutions to strengthen Pakistan’s energy security**

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Bajaur-Solar

  **KARACHI:** Energy experts, economists and policy specialists have urged the government to make solar power more affordable for heat-stressed and low-income households, stressing that equitable access to clean energy is essential for Pakistan’s long-term energy security and climate resilience. The recommendations were made during a seminar titled **”Pakistan’s Energy Security: The Reality for Working People,”** jointly organised by **The Knowledge Forum (TKF)** and the **Karachi Union of Journalists (KUJ)** at the Karachi Press Club. Speaking at the event, former adviser to the chief ministers of Sindh and Balochistan, **Dr…

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**Pakistan secures safe passage for Qatari LNG cargo through Iran amid energy crisis**

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  **ISLAMABAD:** Pakistan has successfully negotiated with Iran to ensure the safe passage of at least one Qatari liquefied natural gas (LNG) shipment through the Strait of Hormuz, in a move aimed at easing the country’s worsening energy crisis, according to Bloomberg. The LNG carrier **Al Areesh**, which had been anchored in the Persian Gulf after loading cargo at Qatar’s Ras Laffan export terminal earlier this month, transited the Strait of Hormuz on Thursday, according to Bloomberg ship-tracking data. The vessel crossed the strategic waterway with its transponders switched on…

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