Business

Aurangzeb says IMF had not asked for a tariff on solar panels

Published

1 month ago

June 14, 2026

Bilal

He disputed allegations that the government had considering taxing solar panels before the budget. ‘There was never any such demand from the IMF and the topic was never discussed,’ he said.

Aurangzeb stated in a media interaction that the government is working on a set of structural reforms in the energy sector to bring down electricity rates, improve the business environment and increase the competitiveness of major industries, according to a federal minister.

In reply to questions on the high energy costs and capacity charges carried over by successive governments, the minister said expensive power continues to pose a serious problem to industry including manufacturing, information technology, mining and other energy-intensive industries.

He said the government, in partnership with Energy Minister Awais Leghari, had already taken steps to remove cross-subsidies for industry and was pursuing changes through wheeling policy and other measures to increase efficiency in the electricity sector.

Read More : Solar panels, inverters, lithium batteries’ prices soar ahead of budget

The government is moving from short-term relief to more extensive, long-term structural reforms, the minister said. These efforts are to be expected to bear fruit in the coming years rather than immediately, he said.

Privatisation of energy distribution companies (DISCOs) is a crucial part of the reform agenda. The minister said three DISCOs had already been awarded expression of interest (EOI) and two more EOIs will soon be awarded. He said he was certain that the first batch of distribution businesses would be handed over to private sector management by the end of the year, with the rest to follow in phases.

There would need to be more regulatory control to accompany privatisation and work was beginning to ensure the regulatory system would be robust and effective, he said.

He also emphasised the ambitions to shift away from the existing single-buyer energy market model, controlled through the Central Power Purchasing Agency (CPPA), to a competitive multi-buyer system. “The change will help dismantle existing monopolistic structures and improve market efficiency,” he said.

Business

Sindh CS reviews high level warning on monsoon rains, wheat hoarding

Published

12 hours ago

July 25, 2026

Bilal

China announced on Friday it was adding 14 European entities to an export control list in retaliation for the European Union penalizing 14 Chinese enterprises as part of its latest round of sanctions against Russia.

Chinese companies will not be allowed to export dual-use items, which can be used for both civilian and military purposes, to the 14 European organizations, China’s Commerce Ministry said in a statement.

Additionally, foreign companies are barred from providing to the 14 entities dual-use items made in China.

The European companies affected include Czech vehicle manufacturer Tatra Trucks, Italian electric motor maker Lafert SpA, German manufacturer Sindlhauser Materials GmbH and French drone manufacturer Cavok UAS.

A Chinese Commerce Ministry spokesperson said the measures were taken in retaliation for the E.U. on Thursday adding 14 mainland Chinese and Hong Kong enterprises to its latest list of sanctions against Russia over its war in Ukraine.

The measures are intended “to safeguard national security and interests, and to fulfill international obligations such as non-proliferation, in response to the E.U.’s egregious actions,” the spokesperson said.

The E.U. on Thursday adopted its 21st package of sanctions against Russia targeting banks, cryptocurrency companies and military equipment manufacturers among other categories. The sanctions included entities from other countries such as China, India and Turkey, believed to provide Russia with dual-use goods and technology.

Business

Govt maintains petrol and diesel prices till July 27

Published

13 hours ago

July 25, 2026

Bilal

Petroleum Division said that the pricing of petrol and high-speed diesel will not be adjusted till July 27.

Prices of petrol and diesel will not change over the weekend and the existing rates will continue, the Petroleum Division said in an official notification.

“The notification stated that the existing prices of petrol, high-speed diesel and other petroleum products will remain intact till July 27 (Monday) and the consumers will be able to purchase fuel at the existing rates during this period.

The government has also not announced any hike or cut in the price of petroleum products, officials said.

The present pricing will remain in force until the next price review, when a new decision will be taken.

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Business

Petrol Rs20.81, diesel Rs55.36 a litre in a week on daily pricing

Published

1 day ago

July 25, 2026

Bilal

Petrol and diesel prices have seen a dramatic increase of Rs20.81 per litre and Rs55.36 per litre respectively within a week under Pakistan’s newly established daily petroleum pricing scheme.

The petroleum division said that under the new pricing mechanism, petrol price was jacked up by Rs5.44 per litre and diesel Rs31.05 per litre from July 18.

On July 21, petrol prices were slashed by 35 paisas per litre, while diesel prices were raised by Rs5.71 per litre.

The petrol prices were increased by Rs4.93 per litre and Rs7.15 per litre for diesel on July 22. On July 23, a day later, the petrol price was increased by Rs6.39 per litre and diesel by Rs7.83 per litre.

On July 24, petrol prices were increased by Rs4.40 per litre and diesel by Rs3.62 per litre.

On July 17, the federal cabinet had decided to start daily pricing of petroleum products and had authorised the Oil and Gas Regulatory Authority (OGRA) to fix the rates of fuel on a daily basis in line with the international market trends.

After the last modification, petrol prices are now Rs335.18 a litre while diesel is being offered at Rs383.46 a litre.