Day: September 30, 2026

Govt says 7.7m fuel relief tokens redeemed under subsidy scheme

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fuel-price

KARACHI: The government has said around 7.6 million people have registered for the Special Fuel Relief Scheme, with 7.71 million fuel-relief tokens redeemed since the programme was launched. Deputy Prime Minister and Foreign Minister Ishaq Dar chaired a meeting of the National Steering Committee on Fuel Subsidy after returning from New York to review implementation and progress of the scheme. The meeting reviewed registration, token redemption, payments and complaint management, with the token redemption process now entering its second week. Mr Dar directed federal and provincial authorities to maintain close…

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FESCO, SECP hold awareness session on corporatisation, licensing reforms

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FAISALABAD: Faisalabad Electric Supply Company (FESCO), in collaboration with the Securities and Exchange Commission of Pakistan (SECP), organised an awareness session on corporatisation, licensing and regulatory reforms at the FESCO Regional Training Centre. SECP Additional Joint Registrar Khurram Shehzad attended the session as chief guest and briefed participants on key aspects of corporatisation, modern licensing systems and regulatory reforms. Mr Shehzad explained the basic principles and benefits of corporatisation, highlighting its role in strengthening governance, clearly defining institutional responsibilities and aligning organisational operations with applicable legal and regulatory requirements. He…

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SK Energy seeks Middle Eastern crude for November-February loading

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SINGAPORE: South Korea’s SK Energy has issued a tender to purchase Middle Eastern crude for loading between November and February, according to trade sources on Wednesday. The refiner is seeking crude from Gulf producers, including the United Arab Emirates, Oman and Qatar, the sources said. The tender is scheduled to close on October 1 and will remain valid until October 2. SK Energy has been seeking to secure alternative and Middle Eastern crude supplies amid continued disruption to oil flows in the region. The company said earlier this year that…

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Barrick slows Reko Diq development amid security concerns

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ISLAMABAD: Barrick Mining Corporation has slowed development activity at the Reko Diq copper-gold project in Balochistan and is reviewing its construction plans, citing the need for improved security conditions before proceeding with the project’s full construction schedule. Barrick President and CEO Mark Bristow said the company was revisiting the development programme because security conditions needed to improve before it could embark on a full construction schedule at Reko Diq. The company has not announced a new construction timetable. In April, Barrick said it would continue its review until mid-2027 while…

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Oil prices rise as Trump denies Iran sanctions relief report

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OIl Price

LONDON: Oil prices rose on Wednesday after US President Donald Trump denied reports that Washington was prepared to ease sanctions on Iran, while Qatar called for renewed diplomatic efforts between Tehran and Washington. Brent November futures, which expire on Wednesday, gained 71 cents, or 0.69 per cent, to $103.30 a barrel. The more active December contract rose 35 cents to $96.51. US West Texas Intermediate (WTI) crude increased 43 cents, or 0.48pc, to $89.81. Brent is on track for a monthly gain of around 14pc, its strongest monthly increase since…

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