Author: Admin

PM Shehbaz Defends Spending Cuts, Vows Relief for Vulnerable Amid Petroleum Crisis

Admin
Petrol-Price

ISLAMABAD: Prime Minister Shehbaz Sharif on Monday defended the government’s decision to slash expenditures and reduce the development budget, saying the measures were necessary to create fiscal space for public relief amid ongoing regional tensions impacting petroleum markets. Chairing a high-level review meeting on the fallout of the Gulf crisis, fuel reserves, and relief initiatives, the prime minister revealed that government spending had been curtailed, the development budget trimmed, and 60% of official vehicles ordered to be immediately decommissioned. He emphasized that proposals to increase fuel prices had been consistently…

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Oil Prices Slip 1% Amid Signals of Possible US De-escalation with Iran

Admin
New-oil

Oil prices retreated in Asian trading on Tuesday, reversing earlier gains after reports suggested that Donald Trump is open to ending the ongoing military campaign against Iran—even if the strategic Strait of Hormuz remains largely closed for now. Brent crude futures for May delivery fell by $1.22, or 1.08%, to $111.56 per barrel by 0210 GMT, after earlier rising 2% during the session. The more actively traded June contract stood at $105.76. Meanwhile, US West Texas Intermediate (WTI) crude for May declined by 98 cents, or 0.95%, to $101.90 per…

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Pakistan Kuwait Brotherhood Reinforced as KPC Assures Full Facilitation to Pakistani Vessels for Diesel, Jet Fuel Imports

Admin
New-Project133

Federal Minister for Petroleum, Mr. Ali Pervaiz Malik, held a meeting with H.E. Mr. Nassar Abdulrahman Jasser Almutairi, Ambassador of the State of Kuwait to Pakistan, to discuss bilateral relations, energy cooperation, and regional developments. Federal Minister Ali Pervaiz Malik expressed gratitude to KPC for assuring full facilitation to Pakistani-flagged vessels for any likely lifting of diesel and jet fuel from Kuwait. The Minister acknowledged Kuwait’s continued support for Pakistan despite global and regional challenges and expressed deep appreciation for Kuwait’s contribution toward Pakistan’s energy security. He requested the Ambassador…

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China Accelerates Race for Five-Minute EV Charging Technology

Admin
Electric-Vehicles

China’s leading electric vehicle (EV) manufacturers are rapidly advancing ultra-fast charging technologies capable of delivering hundreds of miles of driving range in just minutes, positioning the country at the forefront of global EV innovation. One of the biggest consumer concerns around EV adoption has been long charging times compared to conventional petrol or diesel refueling. To address this, automakers have heavily invested in next-generation charging solutions over the past decade, with “ultra-fast charging” now emerging as a promising breakthrough. The race intensified in 2022 when XPeng introduced its S4 ultra-fast…

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Pakistan Set to Secure $380 Million World Bank Loan to Revamp Power Sector

Admin
World-Bank

ISLAMABAD: Pakistan is expected to receive a loan of Rs10.7 billion (approximately $380 million) from the World Bank to support critical reforms and infrastructure upgrades in its power sector. The funding will contribute to a major energy project aimed at improving electricity supply, reducing system losses, and modernising the country’s transmission and distribution network. The total project cost is estimated at around $700 million, with additional financing from the Asian Infrastructure Investment Bank and the Islamic Development Bank. A key component of the initiative includes the installation of advanced battery…

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