Day: October 2, 2026

KARACHI: Chairman Businessmen Group (BMG) Zubair Motiwala has called upon the newly elected office bearers of the Karachi Chamber of Commerce & Industry (KCCI) to translate the strong electoral mandate into tangible results for Karachi’s business community, stressing that greater support also brings greater responsibility, expectations and the need for collective, disciplined and measurable action.Addressing the 65th Annual General Meeting of KCCI, where Talat Mahmood was announced President, Aslam Pakhali Senior Vice President and Atif Jamil-ur-Rahman Vice President for 2026–28, Motiwala said the election result reflected the collective efforts of…

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ISLAMABAD: Pakistan’s domestic refineries have contributed an estimated Rs22 billion towards the government’s efforts to contain high-speed diesel (HSD) prices since August 20 by accepting a cap on the diesel crack spread and foregoing the benefit of higher international refining margins, according to industry calculations. The contribution represents the estimated pricing benefit forgone by refiners under a revised HSD pricing mechanism agreed with the government. Introduced on August 20 following consultations with the refining industry, the mechanism capped the allowable HSD crack spread at around $41.89 per barrel. Industry calculations…

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KARACHI: Sindh Chief Minister Syed Murad Ali Shah on Thursday launched the Sindh Coastal Resilience Project (SCRP), a $311 million (approximately Rs87 billion) climate adaptation and development initiative aimed at protecting vulnerable coastal communities, restoring ecosystems and strengthening livelihoods across Thatta, Sujawal and Badin. The project is being implemented through a partnership between the Sindh government, the International Fund for Agricultural Development (IFAD), Asian Development Bank (ADB) and Green Climate Fund (GCF). The launch ceremony, held at the CM House, was organised by Planning & Development (P&D) Board Chairman Najam…

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ISLAMABAD: Pakistan could save more than $1 billion in gross fuel imports by adding around 30,000 range-extended electric vehicles (REEVs) annually for five years, according to industry analysts. Under the scenario, the national REEV fleet would reach 150,000 vehicles, cumulatively replacing an estimated 1.2 billion litres of petrol and avoiding around 2.7 million tonnes of operational carbon emissions compared with an equivalent fleet of petrol-powered vehicles. The actual savings and emissions reductions, however, would depend on factors including vehicle mileage, charging sources and the proportion of travel powered by electricity.…

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ISLAMABAD: Pakistan’s inflation eased to 10.3pc in September, but remained in double digits as rising electricity and fuel prices offset a significant moderation in food inflation. According to data released by the Pakistan Bureau of Statistics (PBS), prices in the energy group continued to rise on a year-on-year basis, keeping overall inflation above the government’s expectations. The monthly inflation rate also increased by 1.3pc, marking its highest monthly pace since April. The latest figures came as Pakistan briefed the International Monetary Fund (IMF) on the inflation outlook amid continued price…

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