ISLAMABAD: The Ministry of Energy has instructed the Oil and Gas Regulatory Authority (Ogra) to finalise the framework for transferring the responsibility of determining petroleum prices to the oil industry. In a letter issued on Wednesday, the ministry directed the Ogra chairman to convene a meeting today (Thursday) to discuss the analysis, implications, and way forward for deregulating petroleum products. …
LAHORE: Pakistan Muslim League-Nawaz (PML-N) President and former prime minister Nawaz Sharif has condemned the recent hike in electricity prices, labelling it a significant burden on all citizens, not just the poor. Speaking at a high-level meeting at the Chief Minister’s House in Lahore, chaired by Chief Minister Maryam Nawaz on Saturday, Sharif stressed that the country is being poorly …
ISLAMABAD: The federal government on Monday hiked the petrol price by Rs9.99 per litre and that of high-speed diesel (HSD) by Rs6.18/ltr for the next fortnight. A notification from the Finance Division said the new petrol price was Rs275.6/ltr and Rs283.63/ltr for HSD due to price variations in the international market. It said there would be no change in the …
ISLAMABAD: Prime Minister Shehbaz Sharif has announced a Rs50 billion relief package for domestic electricity consumers using up to 200 units per month. Addressing a ceremony on energy sector reforms in Islamabad, the prime minister stated that the subsidy will benefit 25 million consumers, representing 94 per cent of total domestic users, over the three months of July, August, and …
ISLAMABAD: Amid public outcry and potential political backlash, the government has decided to step back from about 51pc increase in electricity rates it had approved last week for so-called protected consumers by meeting a ‘prior action’ required by the International Monetary Fund (IMF). On the instructions of the prime minister, a revised summary would be urgently run through the federal cabinet that …
ISLAMABAD: Prime Minister Shehbaz Sharif on Saturday directed for initiation of proceedings against the power distribution company (Discos) officers and personnel, who were found sending inflated electricity bills to consumers. While chairing a meeting regarding reforms in power sector and solarisation process, the PM ordered the FIA to investigate the matter and directed the power division to suspend all those officials found …
ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has called a public hearing on July 8 on the question of passing on more than Rs700 billion additional burden to electricity consumers during the current fiscal year by jacking up the average national tariff by around Rs5.72 per unit. The increase would significantly impact the sale rate for poor protected consumers …
ISLAMABAD: The Pakistan Petroleum Dealers Association (PPDA) on Wednesday announced that its talks with provincial and federal governments and other stakeholders had hit a deadlock, leaving them with no option but to go for a nationwide closure on July 5 (tomorrow). “They asked us to call off strike and promised to resolve the issue, but we cannot postpone the strike on mere …