Author: Admin

WASHINGTON: Ajay Banga, President of the World Bank, has cautioned that the ongoing conflict in the Middle East could significantly slow global economic growth, even if the current fragile ceasefire holds. In an interview, Banga highlighted that global growth could decline by 0.3 to 0.4 percentage points under a baseline scenario assuming an early resolution. However, if the conflict persists, the impact could deepen to as much as a 1 percentage point reduction in global growth. He further warned that inflationary pressures are likely to intensify, with a potential rise…

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ISLAMABAD: Prime Minister Shehbaz Sharif has announced a significant reduction in petroleum prices, offering much-needed relief to consumers across the country. For the week ending April 17, the price of high-speed diesel (HSD) has been cut by Rs135 per litre, while petrol has been reduced by Rs12 per litre. The new ex-depot price of HSD stands at Rs385.54 per litre, down from Rs520.35 — marking a substantial 26% decrease. Petrol prices have been lowered to Rs366.58 per litre from Rs378.41, reflecting a drop of Rs11.83. Other petroleum products also saw…

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ISLAMABAD: Despite the announcement of a fragile ceasefire involving Iran, the United States, and Israel, global oil and gas prices are expected to remain elevated for months, according to analysts. The conflict severely disrupted energy flows after Iran restricted passage through the Strait of Hormuz—a critical route that handles nearly 20% of global oil and gas exports. The move, along with attacks on regional energy infrastructure, triggered sharp price increases and supply shortages affecting multiple sectors, including fertilisers and industrial gases like helium. Experts say the resumption of normal trade…

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ISLAMABAD: Pakistan Petroleum Limited (PPL) has announced the extension of the tenure of its Managing Director and Chief Executive Officer, Mohammad Khalid Rehman, ensuring continuity in leadership until a permanent appointment is made. Mr. Rehman was initially appointed as MD & CEO on January 10, 2026. The decision to extend his tenure was approved by the company’s Board of Directors, reflecting confidence in his leadership during a critical phase for the organization. A seasoned professional, Mohammad Khalid Rehman brings over 30 years of both international and domestic experience. He joined…

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