ISLAMABAD: Petroleum Minister Ali Pervaiz Malik has formally invited global stakeholders to participate in the Pakistan Minerals Investment Forum to be held in April. He is currently representing Pakistan at the Future Minerals Forum (FMF) in Riyadh, where he participated in high-level discussions showcasing Pakistan’s immense mineral potential to the world. The minister took part…
ISLAMABAD: The upstream oil and gas exploration and production companies have lodged a strong protest against the state-owned Sui Southern Gas Company Ltd and Sui Northern Gas Pipeline Ltd for defaulting on more than Rs1.5 trillion in overdue payments. Pakistan Petroleum Exploration and Production Companies Association (PPEPCA), in a letter to the Petroleum Division, said…
KARACHI: The Sindh High Court has ruled that the collection of a levy imposed on gas supply to industrial captive power plants (CPPs) with retrospective effect was ultra vires (beyond legal authority) the relevant law. The court also observed that the levy on CPPs could not take effect immediately upon the promulgation of the law,…
KARACHI: Despite a 10 per cent year-on-year increase in revenue collection, the government borrowed net Rs1.192 trillion from scheduled banks in the first half of the current fiscal year against retirement of Rs1.255tr in the same period last year. The Federal Board of Revenue (FBR) collected Rs6.159 trillion during July-December FY26 against the target of…
KARACHI: The Pakistan Stock Exchange (PSX) staged a robust recovery on Friday, buoyed by strong year-on-year growth in large-scale manufacturing and easing geopolitical concerns, as investors indulged in aggressive value-hunting after days of caution. Market sentiment improved after US President Donald Trump signalled that the crackdown on protesters in Iran was easing, reducing fears of a broader regional…
ISLAMABAD: Short-term inflation, measured by the Sensitive Price Index (SPI), increased 3.87 per cent year-on-year in the week ending Jan 15 due to an increase in the retail price of tomatoes and LPG cylinders. The SPI-based inflation recorded an upward trend over the past 24 consecutive weeks, mainly driven by surges in the prices of perishable products,…
ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) on Friday notified up to five per cent reduction in the price of regasified liquefied natural gas (RLNG) at the distribution stage for the current month, mainly due to lower international oil prices. This is the second consecutive monthly reduction, following around a 6pc decline in December,…
KARACHI: The State Bank of Pakistan (SBP) on Friday began implementing the Women Entrepreneurship Finance (WE-FI) Code, adopted on July 7, 2025, to dismantle the financial barriers faced by women-led businesses. To kick off the implementation of the code, the central bank held a two-day workshop in collaboration with the Asian Development Bank (ADB) in…
ISLAMABAD: The number of approved special economic zones has surged dramatically from seven to 44 in the second phase of China-Pakistan Economic Corridor (CPEC), including notification of 37 new SEZs through coordinated efforts led by the Board of Investment (BoI). The increase in approval rate was revealed on Friday during a briefing on Pakistan’s engagement with China…
ISLAMABAD: Despite over 35 years of ‘reforms’ and policy interventions, Pakistan’s power sector remains incapable of instilling confidence in the country’s economic growth and in consumers’ trust, leading to gains secured from power producers through renegotiations evaporating amid unending inefficiencies. This charge sheet has been framed by the National Electric Power Regulatory Authority (Nepra) against…