Day: August 27, 2026

ISLAMABAD: Pakistan potentially saved around $120 million in foreign exchange in July after recording no imports of high-speed diesel (HSD), as domestic refineries produced more than 500,000 tonnes to meet rising demand. The estimated saving is based on Pakistan’s average monthly HSD imports during FY2025-26 and the indicative international diesel price recorded in July. The figure represents the estimated value of imports avoided compared with the previous fiscal year’s monthly average, rather than the total value of locally produced diesel. The development came despite a significant increase in domestic HSD…

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ISLAMABAD: The federal government has once again increased the prices of petrol and high-speed diesel, marking the second consecutive increase amid continued volatility in international oil markets. According to a notification issued by the Petroleum Division, the new prices will remain effective for two days, August 26 and 27, following recommendations based on the pricing mechanism determined by the Oil and Gas Regulatory Authority (OGRA). The price of petrol has been increased by Rs1.12 per litre, taking it from Rs341.98 to Rs343.10 per litre. Similarly, the price of high-speed diesel…

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LONDON: Oil prices fell on Thursday, extending their recent decline, as investors hoped diplomatic efforts involving Iran and Qatar could help reopen the Strait of Hormuz and ease supply disruptions caused by the ongoing Middle East conflict. Brent crude futures fell 41 cents, or 0.5%, to $87.43 a barrel, putting the benchmark on track for a fourth consecutive session of losses. US West Texas Intermediate (WTI) crude declined 37 cents, or 0.5%, to $81.86 a barrel, heading for a fifth straight day of declines. Market sentiment was pressured by expectations…

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ISLAMABAD: A high-level Saudi business delegation, led by Prince Mansour bin Mohammad Al Saud, Chairman of the Saudi-Pakistan Joint Business Council, visited the Special Investment Facilitation Council (SIFC) to explore investment and business opportunities across key sectors of Pakistan’s economy. The visit provided an important platform to strengthen economic and commercial ties between Pakistan and Saudi Arabia and advance mutually beneficial investment initiatives. The SIFC facilitated meetings between the Saudi delegation and senior government officials, relevant stakeholders and leading private-sector representatives from various sectors, including power, petroleum, privatisation, industries, communications…

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ISLAMABAD: Independent power producers (IPPs) operating on imported coal have come under scrutiny over procurement practices that may be increasing electricity costs for consumers, with additional costs ultimately passed on through monthly fuel price adjustments (FPAs). The concerns have been highlighted by both the Power Division and the National Electric Power Regulatory Authority (Nepra), following findings of significant inefficiencies and limited competition in the procurement of imported coal by power plants. The issue gained prominence after a recent competitive tender for coal supplies to the 660MW state-owned Jamshoro Power Plant…

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