The local gas industry has welcomed the ceasefire, viewing it as an opportunity for growth in international oil and gas trade, which could lower inflation and fiscal pressures. Ghiyas Abdullah Paracha, a prominent figure in the energy sector, noted that the ceasefire led to a drop of around $22 in crude oil prices, providing substantial relief to the global economy.
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Experts Urge Pakistan to Accelerate Renewable Energy Transition
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Following a recent ceasefire between the US and Iran, Pakistan's energy sector is experiencing a significant shift towards solar energy, which has already helped the country avoid over $12 billion in oil and gas imports. Experts emphasize that this transition is crucial for mitigating the impacts of the ongoing energy crisis driven by the conflict in the Middle East.
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