Khalid Mustafa

Chittagong

Investigative Journalist at The News International

Syed Khalid Mustafa, investigative journalist working with The News International

Featured in: Favicon

thenews.com.pk Favicon

india.com

dnaindia.com Favicon

geo.tv

dailytimes.com.pk Favicon

theprofesional.com Favicon

asianetpakistan.com Favicon

pjms.com.pk Favicon

cureus.com Favicon

businesspostexaminer.com + 1 more

Articles

Revised PPAs with wind power plants expected in next two weeks

1 day ago | thenews.com.pk | Khalid Mustafa

ISLAMABAD: The task force on power currently in talks with wind power plants (WPPs) is likely to come up with revised power purchase agreements (PPA) in the next two weeks as has been done with IPPs and government power plants. The government has already revised the power purchase agreements with IPPs and government power plants (GPPs).
Rs1,275bn power sector loan: Consumers to pay Rs3.23 per unit debt surcharge for 6 more years

4 days ago | thenews.com.pk | Khalid Mustafa

ISLAMABAD: The much-discussed Debt Service Surcharge (DSS) of Rs3.23 per unit is already being charged to electricity consumers through their monthly bills, meaning there will be no additional financial burden on them under the current arrangement. However, consumers will continue to pay this surcharge for the next six years to help repay a Rs1,275 billion loan — along with interest — secured by the state-owned Central Power Purchase Agency (CPPA) from 18 commercial banks.
Ogra fines 20 firms Rs427m for violating fuel stock rules

5 days ago | thenews.com.pk | Khalid Mustafa

ISLAMABAD: In a much-awaited but bold decision, the Oil and Gas Regulatory Authority (OGRA) has swung into action and punished 20 unscrupulous oil marketing companies (OMCs) with a penalty of Rs427million for short-lifting of local POL products and not maintaining fuel stocks in March 2025.
Rs1.186tr earmarked for subsidies

6 days ago | thenews.com.pk | Khalid Mustafa

ISLAMABAD: In order to alleviate the impact of inflation on citizens, the federal government has earmarked a subsidy of Rs1.186 trillion. Out of Rs1.186 trillion, the government will spend Rs1.036 trillion as subsidy for power sector, Rs1.2 billion for petroleum sector, Rs20 billion for food sector and Rs24 billion for industries & production. In addition, government will also spend Rs104.7 billion in other sectors in the shape of subsidies.
$6bn refineries projects in doldrums as sales tax exemption issue remains unresolved

6 days ago | thenews.com.pk | Khalid Mustafa

ISLAMABAD: In the Finance Bill for FY26, there is no mention of resolving much-touted issue of sales tax exemption on petroleum products. It suggests the Finance Ministry’s functionaries have failed to rectify this issue, causing a halt of $6 billion investment for upgrade projects of local refineries. “Yes, in the FY26 Finance Bill, this issue has not been resolved”, a senior official of Petroleum Division confirmed to The News.
12.53MMT petroleum products imported in 9 months of ongoing fiscal

1 week ago | thenews.com.pk | Khalid Mustafa

ISLAMABAD: Pakistan imported a total of 12.53 million metric tonnes (MMT) of petroleum products during July-March FY 2025, up from 11.14 MMT in the same period of FY 2024, representing a 12.5 percent increase in quantity. However, according to the Economic Survey 2024-25, the total import bill in value terms remained relatively stable, amounting to US$ 8.40 billion, almost unchanged from US$ 8.44 billion in July-March FY 2024.
Gohar offers recipe to improve exports

1 week ago | thenews.com.pk | Khalid Mustafa

ISLAMABAD: Ejaz Gohar, former federal minister of commerce, industries, and interior and existing patron-in-chief of APTMA has come up with a recipe to get the country out of economic morass titled ‘A Roadmap To Economic Stability And Export-led Growth ‘ a day before the federal budget for FY26 which is to be presented today (June 10, 2025) here in the Parliament.
Gas sector circular debt soars to Rs2,800bn, worries govt functionaries

1 week ago | thenews.com.pk | Khalid Mustafa

ISLAMABAD: The monster of circular debt in the gas sector that soared to Rs2,800 billion has attracted the attention of the top decision-makers to resolve this chronic issue. The government to this effect has hired KPMG -- a well-known reputed audit firm with the mandate to make a doable, and acceptable to IMF, circular debt management plan (CDMP) to get rid of this menace once and for all.
Refineries, OMCs to face penalties for breaching PRM decisions

2 weeks ago | thenews.com.pk | Khalid Mustafa

ISLAMABAD: In a bid to maintain the fuel supply chain intact and ensure energy security, the Oil and Gas Regulatory Authority (Ogra) has carved out a new mechanism under which any party -- whether refineries or Oil Marketing Companies (OMCs) -- involved in disputes over the import of POL products, less uplifting of local petroleum products, or short local production in violation of decisions made in the monthly Product Review Meeting (PRM) will face penalties and suspension of their licenses.
IMF diktat: Govt has no option but to hike gas sale price from July 1

2 weeks ago | thenews.com.pk | Khalid Mustafa

ISLAMABAD: Under the IMF diktat, it is no longer possible for the government to enforce the present gas sale price with a shortfall in Sui gas companies from now onward. The government will increase the gas sale tariff under the 2022 amendment made in line with the directive of the Fund ensuring zero deficit to the Sui utilities in the preceding year.