By Staff Reporter
ISLAMABAD: Pakistan’s inflation eased for a second month in July as food and fuel prices stabilized, giving some breathing space to the central bank that has been battling soaring price pressures and a weak currency.
Energy
Fuel prices soar by 8pc as Sharif’s coalition bows to IMF pressure
By Staff Reporter
ISLAMABAD: The government on Tuesday raised the prices of petrol and diesel by almost 20 rupees per liter or 8 percent, the biggest increase in more than a year, citing a surge in global oil prices and pressure from the International Monetary Fund (IMF) to increase revenues.
OGDCL boosts oil and gas output from four Sindh wells
By Staff Reporter
ISLAMABAD: Oil and Gas Development Company Limited (OGDCL), Pakistan’s largest oil and gas explorer, said on Monday it had increased its oil and gas production from four wells in Sindh province using cutting-edge technologies.
Pakistan welcomes Chinese vice premier for CPEC anniversary
By Staff Reporter
ISLAMABAD: China’s vice premier, He Lifeng, will arrive in Pakistan on Sunday for a three-day visit to mark the 10th anniversary of a major economic and strategic partnership between the two countries, the Pakistani foreign office said on Saturday.
Pakistan secures local equity, Chinese partnership for Saudi refinery project
By Staff Reporter
ISLAMABAD: Pakistan has signed three memoranda of understanding (MOUs) with four state-owned enterprises to raise the local equity for a multibillion-dollar Saudi refinery project and inked an engineering, procurement, and construction (EPC) contract with a Chinese firm, a minister said on Thursday.
Ecnec approves eight development projects worth Rs10.6 trillion
By Staff Reporter
ISLAMABAD: Pakistan’s top economic body approved eight development projects worth around Rs10.6 trillion on Thursday, including a nuclear power plant, a storage dam, and a canal system.
Power consumers to pay more for June fuel cost adjustment
By Staff Reporter
ISLAMABAD: Pakistan’s power regulator on Wednesday approved additional charges of up to Rs2.31 per unit for electricity consumers to cover the fuel cost adjustment (FCA) for June, a day after announcing a steep hike in base tariffs, Dawn newspaper reported on Thursday.
Pakistan signs LNG deal with Azerbaijan to boost energy security
By Staff Reporter
ISLAMABAD: Pakistan has signed a framework agreement with Azerbaijan for liquefied natural gas (LNG) procurement on flexible terms, as part of its efforts to diversify its energy sources and meet its growing demand.
Sharif government raises power prices by 27 percent
By Staff Reporter
ISLAMABAD: Pakistan’s electricity consumers will face the highest power bills in the country’s history from next month after the outgoing government of Prime Minister Shehbaz Sharif approved another massive hike in the base tariff on Saturday.
Power costs plunge 35 percent as coal and hydel output rise
By Staff Reporter
KARACHI: Pakistan’s electricity generation costs fell to the lowest level in a year as cheaper coal and increased hydropower output offset lower demand amid high tariff and economic slowdown.