Tag: energy sector

Dubai Crude Jumps 10%, Putting Pakistan’s Fuel Pricing Mechanism to Test

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# Dubai Crude Jumps 10%, Putting Pakistan’s Fuel Pricing Mechanism to Test **ISLAMABAD:** Dubai crude, a key benchmark for Asian markets including Pakistan, surged by **$8.20 per barrel, or 10.2%, to $88.99 per barrel** on Tuesday, raising concerns over the potential impact on Pakistan’s petroleum import costs and domestic fuel prices. The sharp increase has come alongside rising international prices of **gasoline and gasoil**, while freight rates and import premiums have also climbed, creating additional pressure on the landed cost of petroleum products. Industry sources said that if the current…

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Sherry Rehman Questions Need for Pakistan Climate Change Authority

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Sherry-Rehman

# Sherry Rehman Questions Need for Pakistan Climate Change Authority **ISLAMABAD:** Senate Standing Committee on Climate Change Chairperson **Senator Sherry Rehman** has questioned the institutional need for the **Pakistan Climate Change Authority (PCCA)**, arguing that its mandate substantially overlaps with that of the Ministry of Climate Change and Environmental Coordination. During a detailed briefing on the PCCA, the committee expressed concerns over institutional duplication, particularly at a time when the ministry is facing constrained and declining budgetary resources. Senator Rehman noted that the ministry’s **PSDP allocation had fallen to Rs2.478…

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Govt Sets Six-Year Deadline for Refinery Upgrades, Offers Extra Incentive for Early Completion

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oil-refineries

# Govt Sets Six-Year Deadline for Refinery Upgrades, Offers Extra Incentive for Early Completion **ISLAMABAD:** The government has directed oil refineries to accelerate their multibillion-dollar modernisation projects under the amended **Brownfield Refining Policy 2023**, setting a **six-year deadline** for completion while offering an additional incentive to refineries that finish their upgrades within three years. At a meeting with refinery heads, **Petroleum Minister Ali Pervaiz Malik** conveyed the Federal Cabinet’s decisions and directed companies to finalise and sign their upgrade agreements at the earliest. The meeting was attended by Petroleum Secretary…

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Transporters’ Strike Continues as Deadlock with Government Persists

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# Transporters’ Strike Continues as Deadlock with Government Persists **ISLAMABAD:** The deadlock between the government and the **All Pakistan Goods Transporters Alliance** continued despite two days of negotiations, with transporters refusing to call off their strike until their demands are formally accepted and written assurances are provided. According to an official statement, a detailed meeting chaired by **Federal Minister for Communications Abdul Aleem Khan**, who is also convener of the committee constituted by the Prime Minister, agreed to establish a **Joint Monitoring Committee** comprising customs authorities and representatives of goods…

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GENCO Pension Liabilities Shifted to DISCOs as ECC Rejects NEPRA Proposal

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# GENCO Pension Liabilities Shifted to DISCOs as ECC Rejects NEPRA Proposal **ISLAMABAD:** The government has rejected a proposal by the National Electric Power Regulatory Authority (NEPRA) to use proceeds from the sale of GENCO assets to finance pensions of employees of the closed power plants, deciding instead to shift the pension liabilities to distribution companies (DISCOs). According to well-informed sources, the Economic Coordination Committee (ECC) approved a proposal of the Power Division under which GENCO pensioners would be adjusted in DISCOs responsible for disbursing their pensions. The decision was…

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