Author: Admin

Oil Industry Rejects New Pricing Formula, Warns of Potential Fuel Crisis

Admin
New-oil

Islamabad: A growing policy dispute within Pakistan’s power corridors risks triggering a fuel crisis, as the government reviews the existing oil pricing mechanism amid mounting global supply pressures linked to the Middle East conflict. Sources revealed that a committee formed by Prime Minister Shehbaz Sharif to reassess the oil pricing formula has faced strong opposition from industry stakeholders. The proposed changes—reportedly aimed at delinking domestic prices from international markets—have been unanimously rejected by oil companies, which warn that such a move could severely disrupt supply chains. The current pricing system,…

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Gas Pipeline Blast Cuts Supply to Quetta, Several Balochistan Districts

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Gas-Pipline

Gas supply to large parts of Quetta and multiple districts across Balochistan was suspended late Monday night after a major pipeline explosion caused by unidentified armed men. According to officials from Sui Southern Gas Company (SSGC), an 18-inch-diameter main gas pipeline was blown up in the Akhtarabad area along the Western Bypass, located on the outskirts of the provincial capital. Police sources said explosive material had been planted beneath the pipeline, which detonated in the evening, triggering a fire and severely damaging a significant section of the infrastructure. The blast…

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IMF Warns Iran War Will Drive Global Inflation and Slow Economic Growth

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imf-1

The International Monetary Fund (IMF) has cautioned that the ongoing conflict in the Middle East is casting a shadow over the global economy, pushing it toward higher inflation and slower growth. In a recent blog by its top economists, the IMF highlighted that the war—triggered by U.S. and Israeli strikes on Iran on February 28—has created a widespread but uneven economic shock, tightening global financial conditions just as many economies were beginning to recover from earlier crises. A major concern is Iran’s closure of the Strait of Hormuz, a critical…

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Global Energy Markets Edge Toward Worst-Case Scenario as Hormuz Disruption Persists

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global-markets

LAUNCESTON: A month after military strikes by the United States and Israel on Iran, global markets for crude oil, refined products, and liquefied natural gas (LNG) are already operating under what analysts describe as the second-worst possible scenario. At the center of the الأزمة lies the Strait of Hormuz, a critical maritime corridor that typically handles around 20% of the world’s oil, fuel products, and LNG shipments. The waterway remains largely inaccessible to commercial shipping, leaving global energy supplies severely constrained and markets highly vulnerable. Despite claims from Washington and…

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President Zardari Orders Urgent Measures to Curb Inflation, Protect Vulnerable

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Asif-Zardari

ISLAMABAD: President Asif Ali Zardari on Monday directed authorities to take all possible steps to ease the burden of rising prices on citizens, particularly amid mounting oil and gas supply pressures, escalating energy costs, and an evolving regional situation. Chairing a high-level consultative meeting at Aiwan-e-Sadr, the president stressed the need to protect low-income groups from inflation in essential goods and services. The meeting was attended by Prime Minister Shehbaz Sharif, along with chief ministers of all provinces, representatives from Gilgit-Baltistan and Azad Jammu and Kashmir, and senior federal officials.…

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