Tag: Energy

Government Proposes Dual Pricing Model for Petroleum Products to Encourage Digital Payments

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Petrol-Diesel

Islamabad, May 14, 2025 — In a bid to promote digital transactions and curb fuel smuggling, the government is considering a dual pricing model for petroleum products across the country. Under the proposed scheme, consumers would be offered a PKR 5 per liter discount when purchasing petrol or diesel through digital payment methods. As per initial details, the model would set two price tiers for POL (Petroleum, Oil, and Lubricants) products: The price differential will be achieved by reducing the Petroleum Levy (PL) on digital transactions, allowing the government to…

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Pakistan, Russia Agree to Set Up New Steel Mill in Karachi to Bolster Bilateral Ties

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New-Project20

ISLAMABAD: Pakistan and Russia have agreed to collaborate on establishing a new steel mill in Karachi, marking a significant step forward in strengthening bilateral industrial cooperation. The decision was reached during a follow-up meeting between Special Assistant to the Prime Minister on Industries and Production, Haroon Akhtar Khan, and a Russian delegation led by Denis Nazaroof. The Russian side reaffirmed its commitment to support Pakistan’s steel sector and invited Pakistani representatives to an upcoming industry exhibition in Moscow. This follows earlier discussions in September 2024 between Russia’s Deputy Minister for…

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MariEnergies Secures 10 New Onshore Exploration Blocks in DGPC Bid Round

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New-Mari1

ISLAMABAD: Mari Energies, formerly known as Mari Petroleum Company Limited, has provisionally secured 10 onshore exploration blocks in Pakistan following the recent competitive bidding round conducted by the Directorate General of Petroleum Concessions (DGPC) on April 30, 2025. In a notice to the Pakistan Stock Exchange (PSX), the company confirmed that it will independently operate seven of the awarded blocks, while the remaining three will be developed through joint ventures (JVs). These JV arrangements include partnerships with Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), and Prime…

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Govt Submits Roadmap to IMF, World Bank for Targeted Power Subsidies under BISP

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New-IMF1

ISLAMABAD: The Government of Pakistan has submitted a detailed roadmap to the International Monetary Fund (IMF) and the World Bank outlining its plan to transition to targeted power subsidies for low-income households through the Benazir Income Support Programme (BISP), sources revealed to Business Recorder. This major policy shift is part of broader energy sector reforms aimed at curbing inefficiencies, reducing blanket subsidies, and promoting climate-resilient practices. Currently, indiscriminate tariff differentials and cross-subsidies disproportionately benefit wealthier consumers and strain the power sector’s financial sustainability. The reform design—developed collaboratively by the Power…

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Power Division to Resubmit Net-Metering Amendments Proposal to ECC Amid Rising Financial Concerns

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Net-Metering

ISLAMABAD: The Power Division is preparing to resubmit its controversial proposal to amend Pakistan’s net-metering regulations to the Economic Coordination Committee (ECC), following a green light from the Cabinet Division. According to official correspondence, while the ECC had approved the proposed changes in its March 13, 2025 meeting, the Federal Cabinet deferred ratification and directed broader stakeholder consultation due to strong public and parliamentary backlash. Now, with shifting circumstances, the Cabinet Division has advised resubmission of the summary for ECC reconsideration. The proposed amendments seek to cap net-metering contract validity…

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