Year: 2026

WASHINGTON: US President Donald Trump announced on Tuesday a temporary halt to a newly launched naval escort mission in the Strait of Hormuz, signaling a renewed diplomatic push to reach a comprehensive agreement with Iran and de-escalate regional tensions. The operation, dubbed “Project Freedom,” was initiated just a day earlier to facilitate the safe passage of commercial vessels through the critical النفط chokepoint. However, Trump stated on Truth Social that the mission would be paused following requests from mediators, including Pakistan, citing “significant progress” toward a potential deal with Tehran.…

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Karachi, May 5, 2026 Sindh Senior Minister and Provincial Minister for Information, Transport and Mass Transit, Sharjeel Inam Memon, said that escalating tensions between Iran and the US have caused an unprecedented spike in global petroleum prices, impacting people across Sindh and Pakistan. Addressing the Sindh Assembly, he outlined several relief measures introduced by the provincial government. He noted that around 6.5 million motorcycles are registered with the Excise Department in Sindh. Under a new scheme, owners who register their motorcycles in their own names will receive a fuel subsidy…

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Karachi: Atif Ikram sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has expressed his grave concerns over the critical expansion in Pakistan’s trade deficit – which has surged by 20.28% to reach $32 billion during the first 10 months of the current fiscal year (July-April FY26). Atif Ikram Sheikh, in an urgent appeal to policymakers, emphasized that the only sustainable solution to stabilize the nation’s fragile external account and protect foreign exchange reserves shall be a comprehensive and fast-tracked strategy to aggressively incentivize the export…

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• Rs. 515 m approved to provide financial relief to fishing community Karachi, Thatta, Sujawal, and Badin.• Rs147.2m approved for consultancy of bridge over River Indus between Hyderabad and Kotri KARACHI (May 5): Sindh Chief Minister Syed Murad Ali Shah presided over a Cabinet meeting, where the l government approved a massive development, welfare and reform agenda involving more than Rs30 billion in allocations, grants and institutional initiatives aimed at improving infrastructure, healthcare, governance, education and public relief across Sindh.The meeting, held at CM House, was attended by provincial ministers,…

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KARACHI: Pakistan’s refining sector recorded a solid performance in April 2026, with total refinery uplift increasing by 12.7% year-on-year, driven primarily by higher demand for high-speed diesel (HSD) and furnace oil (FO), according to industry data. HSD uplift rose 11.3% to 442,000 tonnes, supported by tighter controls on alternative fuel inflows, potential disruptions in imports, and improved refinery utilisation. FO offtake also posted a sharp increase of 26% to 235,000 tonnes, while sales by oil marketing companies rose 62.7% to 137,000 tonnes. Motor spirit (petrol) uplift, however, edged down 1.7%…

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