Day: June 22, 2026

ISLAMABAD: Details of taxes included in the current petrol and diesel prices in Pakistan have been revealed, showing that a significant portion of fuel prices consists of government levies and duties. According to Petroleum Division sources, 29 percent of the price of petrol per litre is made up of taxes. In monetary terms, Rs88.07 per litre is included as taxes in the petrol price. The breakdown shows that petrol includes Rs19.32 per litre customs duty, Rs66.25 petroleum levy, and Rs2.50 climate support levy. In the case of diesel, officials stated…

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ISLAMABAD: Pakistan is set to receive its seventh liquefied natural gas (LNG) cargo on Monday as the country continues to strengthen energy supplies amid heightened regional tensions following the Iran–U.S. conflict. The LNG carrier MRAIKH is scheduled to arrive at Port Qasim carrying 170,148 cubic metres of LNG loaded from Ras Laffan, Qatar, under a long-term contract priced at 13.37 percent of Brent crude. According to shipping data, the vessel departed from Qatar and is expected to reach the outer anchorage of Port Qasim around 6:00am (local time) before berthing…

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PESHAWAR: Chief Executive Officer of the Provincial Energy Development Organization (PEDO), Engineer Anwar-ul-Haq, has announced that construction work on several hydropower projects across Khyber Pakhtunkhwa has entered its final stages, with completion expected to generate more than Rs10 billion in additional annual revenue for the province. He made these remarks while addressing the oath-taking ceremony of the newly elected cabinet of the PEDO Officers Association (POA). The event was attended by Khyber Pakhtunkhwa Minister for Energy and Power, Nazir Ahmad Abbasi, as the chief guest. Engineer Anwar-ul-Haq highlighted PEDO’s growing…

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SINGAPORE: Global oil prices moved higher on Monday after Iran once again restricted shipping through the Strait of Hormuz and tensions resurfaced during the first round of U.S.-Iran talks held under an interim peace agreement. Brent crude futures gained 54 cents, or 0.67 percent, to reach $81.11 per barrel by 0030 GMT, after touching an intraday high of $82.30. Meanwhile, U.S. West Texas Intermediate (WTI) crude rose $2.02, or 2.64 percent, to $78.62 per barrel ahead of the expiry of the July contract. The more actively traded August WTI contract…

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BURGENSTOCK, SWITZERLAND: The United States and Iran have agreed on a roadmap to reach a comprehensive peace agreement within 60 days following marathon negotiations in the Swiss resort of Burgenstock, according to a joint statement issued on Monday by mediators Pakistan and Qatar. The talks, held under the framework of the Islamabad Memorandum of Understanding (MoU) signed last week, marked the first formal negotiating session since the breakthrough interim peace accord brokered with the support of Pakistan and Qatar. Prime Minister Shehbaz Sharif had signed the agreement as a mediator,…

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