ISLAMABAD March 18: The National Electric Power Regulatory Authority (Nepra) has accepted a joint tariff reduction application from seven Independent Power Producers (IPPs) that were established under the Power Generation Policy of 2002. These IPPs have filed the application under a hybrid take-and-pay mechanism, in alignment with agreements made with the Government’s Task Force. The companies involved in this application are: Nishat Chunian Power Limited Nishat Power Limited Narowal Energy Limited Liberty Power Tech Limited Engro Powergen Qadirpur Limited Sapphire Electric Power Limited Saif Power Limited The government’s Task Force, led by Minister for Power Sardar Awais Khan Leghari, includes…
Author: Ahmad Mukhtar
ISLAMABAD, March 18: The federal government expects to generate additional revenue by increasing the petroleum levy (PL) on petrol and high-speed diesel (HSD) by Rs10 per litre, effective from March 15 to 31, raising the PL from Rs60 to Rs70 per litre. This move is anticipated to boost revenue for the government during the second half of the fiscal year. As of February 2025, the petroleum levy had already generated Rs718 billion in the first eight months of the fiscal year (July–February 2024–25), moving toward the annual target of Rs1.28 trillion, according to sources in the Petroleum Division. In an…
ISLAMABAD, March 17: A World Bank delegation meets Finance Minister to discuss National Growth and Fiscal Program along side the wide ranging reforms needed to steer the growth of the economy. A significant follow-up meeting was held today between Pakistan’s Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, and a team from the World Bank. The meeting, conducted at the Ministry of Finance, focused on Pakistan’s national growth and fiscal program as part of the broader 10-year Country Partnership Framework (CPF), which includes a $20 billion commitment. This framework targets key development sectors such as health, education, climate resilience,…
ISLAMABAD, March 17: A fashion show held in Indian occupied and held Kashmir recently by a prominent Indian brand Shivan & Narresh at a ski resort in Gulmarg has sparked a major controversy. The clothes showcased were hugely anti-Kashmir traditional suiting leading the show to draw a serve outrage. Moreover, it was the fasting month of Ramdhan. The event, which was intended to showcase the brand’s skiwear collection, quickly became the center of a heated debate and anger due to the appearance of models wearing bikinis and underwear. This upset many locals, religious leaders, and politicians in the predominantly Muslim…
ISLAMABAD, March 17: Mari Energies Limited formerly known Formerly Mari Petroleum Company has discovered hydrocarbons reserves in its exploratory well Spinwam-1 (Kawagarh Formation) in Waziristan Block of the KP Province. A statement from the company says, “By the grace of Almighty Allah, Mari Energies Limited (formerly Mari Petroleum Company Limited) is pleased to announce second gas condensate discovery in Spinwam-1 exploration well in Kawagarh formation, drilled in Waziristan Block, located in North Waziristan district, KP Province”. This follows the earlier announcement dated 25th February 2025 of the first hydrocarbon’s discovery in the same well in SumanaSukh formation. The post acid…
Special Report, March 17: Mysterious radio pulses originating from the Milky Way have recently been detected, and they are described as being “unlike anything we knew before.” These pulses, known as fast radio bursts (FRBs), have long been a topic of intrigue for astronomers. Typically, FRBs are brief, high-energy bursts of radio waves that last only a fraction of a second, and their origins are still not fully understood. A recent breakthrough in astrophysics has uncovered mysterious long-duration radio pulses originating from the Milky Way. These pulses, which repeat every two hours, resemble a cosmic heartbeat and last from 30…
ISLAMABAD, March 17: Power generation in Pakistan saw a significant decline in February 2025, falling to 6,945 GWh, a sharp 15% decrease from the previous month, signaling a potential slowdown in economic activity. For comparison, power generation in January 2024 was 8,153 GWh. On a year-on-year basis, power generation was down by 3% from 7,130 GWh in February 2024, according to data from Arif Habib Limited (AHL). In the first eight months of the fiscal year 2025 (July-February), total power generation also fell by 3% compared to the same period last year, with 81,739 GWh generated, down from 84,426 GWh…
ISLAMABAD, March 17: In 2024, the 20 listed banks recorded both gross and net markup incomes to Rs7 trillion and Rs1.9 trillion, respectively. This growth can largely be attributed to two factors: a high interest rate environment and a large proportion of current and savings accounts. These conditions helped boost a combined net income of Rs579 billion, a 6.1% increase from the previous year. In Pakistan’s banking sector, a key focus should be on investments, which reached Rs27.9 trillion by 2024, accounting for 93% of total deposits. This reflects the symbiotic, yet often toxic, relationship between the government and banks.…
ISLAMABAD, March 17: In Pakistan fertilizer sector, for sales the sluggish trend continues, though the analysts believe sector players would pass on the impact of hike in gas prices along with any inflationary pressures which would keep profitability intact. With the Rabi season ending and no major sowing being done, fertilizer offtake continues its sluggish trend. In February 2025, Urea sales recorded a decline of 36 month on month and 22% year on year to 347,000 tons. Company wise analysis reveals that FATIMA urea offtake improved 42/24% YoY/MoM to 69KT in Feb’25, whereas FFC/EFERT recorded a decline of 35/52% YoY to…
ISLAMABAD/London March 17: The establishment of a “Strategic Bitcoin Reserve” by the United States has sparked both support and concern, with some praising it as a step toward legitimizing the cryptocurrency sector. While others express unease, particularly regarding the handling of bitcoins seized from hacks. Earlier this month, President Donald Trump signed an executive order creating the reserve, which White House crypto chief David Sacks described as “a digital Fort Knox,” drawing parallels to how gold is stored at the U.S. military base. Just as gold has been held in reserves globally as a safe-haven asset to shield against financial…
