Day: July 27, 2026

LAHORE: Punjab Minister for Industries and Commerce Chaudhry Shafay Hussain has described the electric vehicle (EV) industry as the future of Pakistan, emphasizing that the Punjab government is actively promoting the sector under the vision of Chief Minister Maryam Nawaz. Speaking as the chief guest at the launch ceremony of a locally manufactured electric motorcycle, jointly developed by China’s X-Free Energy Technology Group and Pakistan’s Creative Group, the minister said the provincial government has made the growth of the EV industry one of its top priorities. During the ceremony, held…

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Petrol imported into Pakistan from the international market costs approximately Rs195–196 per litre when it arrives at the country’s ports. However, by the time it reaches consumers at petrol stations, its retail price rises to around Rs335–350 per litre. This raises an important question: Where does the additional amount go, and who receives it? As soon as the fuel arrives at the port, customs duties, port handling charges, and other import-related costs add approximately Rs17–18 per litre to its price. This is followed by several other taxes, levies, and distribution…

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SINGAPORE: Global oil prices fell more than 5 percent on Monday after the United States and Iran paused military strikes over the weekend, raising hopes for a diplomatic breakthrough that could ease regional tensions and restore shipping through the strategic Strait of Hormuz. Brent crude futures dropped $4.89, or 5.05 percent, to $91.89 per barrel by 0009 GMT, briefly falling below the key $90 support level during early trading. Meanwhile, US West Texas Intermediate (WTI) crude declined $4.67, or 5.23 percent, to $84.64 per barrel. Both benchmark contracts touched their…

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ISLAMABAD: Pakistan’s flagship hydropower projects have witnessed significant cost escalations, with the Ministry of Water Resources attributing the increases to persistent inflation, steep currency depreciation, project delays, and a range of technical, administrative, and security-related challenges. According to the ministry, the Diamer Basha Dam, Mohmand Dam, Dasu Hydropower Project (Stage-I), and Tarbela 5th Extension have all experienced substantial revisions in their project costs due to rising construction material prices, exchange rate volatility, Interest During Construction (IDC), enhanced security measures, land acquisition issues, social safeguards, design modifications, and extended implementation schedules.…

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ISLAMABAD: Pakistan State Oil (PSO) is facing an intensifying liquidity crisis as mounting receivables from the gas and power sectors continue to strain its cash flow, raising concerns over the stability of the country’s fuel supply chain. According to independent industry data, Sui Northern Gas Pipelines Limited (SNGPL) remains the largest defaulter, with outstanding liabilities reaching Rs536 billion as of July 23, 2026. The amount includes Rs274 billion in principal dues and Rs253 billion in late payment surcharge (LPS). Industry sources said recoveries from SNGPL continue to fall short of…

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