Staff Report Pakistan will showcase its metals and minerals potential to local and international investors during the two-day Pakistan Minerals Investment Forum 2025, which begins on Tuesday in Islamabad. Representatives from major economies and companies, including the U.S., UK, China, Saudi Arabia, Turkey, Denmark, Azerbaijan, Finland, and Kenya, will attend the forum, Minister for Petroleum…
Staff Report Islamabad: The newly appointed Petroleum Minister has refused to hold a meeting with oil refineries to resolve the issue of sales tax exemptions that are going to hit $6 billion refining projects. The oil refineries have estimated a Rs 34 billion loss during the current financial year due to the issue of sales…
Staff Report Pakistan’s Oil Marketing Companies (OMCs) recorded sales of 1.2 million tons in March 2025, up 5% year-on-year (YoY) and 7% month-on-month (MoM). The MoM rise was due to a low base effect, while the YoY increase was supported by lower petrol and diesel prices compared to last year. Company-wise: The government has set…
Staff Report ISLAMABAD: Pakistan’s Federal Government is set to unveil its National Minerals Harmonisation Framework 2025 at the Pakistan Minerals Investment Forum 2025 (PMIF25), scheduled for April 8-9 aimed at streamlining mining regulations across provinces, ensuring a structured and investor-friendly mineral policy to attract both domestic and foreign investments. The federal government, in collaboration with…
Staff Report Islamabad: The consumers of electricity are set to enjoy a cut in power tariff up to Rs 0.30 per unit on account of fuel charges adjustment of the month of February 2025. On Wednesday, NEPRA conducted a public hearing to consider the DISCOs’ request to reduce the power tariff by 30 paisa/unit under…
Staff Report Reko Diq is projected to produce 13.1 million tons of copper and 17.9 million ounces of gold over its 37-year life. Following project financing, OGDC and PPL’s equity contributions are estimated at $349 million (Rs98 billion) each. As of December 2024, OGDC and PPL had cash and cash equivalents of Rs263 billion and…
Staff Report Deputy Prime Minister, Mr. Ishaq Dar, chaired a high-level meeting to assess critical issues impacting Pakistan’s Exploration & Production (E&P) sector. Federal Minister for Petroleum Ali Pervaiz Malik, senior officials from the various Ministries, and industry stakeholders participated in the discussions, which focused on security concerns, circular debt, gas pricing, energy planning, and…
Staff Report Islamabad: The board of directors of Oil and Gas Development Company Limited (OGDCL) has approved an increase in the company’s funding commitment to USD 627 million, inclusive of project financing costs, reflecting its proportional share of total capital investment for multibillion billion dollars Rekodiq Gold and Copper Project. The approval came in the…