Author: Admin

ISLAMABAD: A recent 100 basis points increase in the policy rate by the State Bank of Pakistan is expected to raise the financial liabilities of the Central Power Purchasing Agency Guaranteed on loans amounting to Rs1.225 trillion, secured to address circular debt in the power sector. The financing facility, arranged from 18 commercial banks for a six-year period, is linked to KIBOR minus 90 basis points. It includes Rs659.6 billion in restructured loans and Rs565.4 billion in fresh financing, previously used to retire Rs659 billion in liabilities of Power Holding…

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RAWALPINDI: The National Disaster Management Authority has issued comprehensive emergency protocols and placed hospitals on high alert as extreme, above-normal temperatures threaten millions across Pakistan. According to the NDMA’s Early Warning Team, daytime temperatures are expected to remain significantly above normal throughout May and June. All relevant stakeholders — including provincial authorities, rescue agencies, health departments, and federal institutions — have been directed to implement immediate precautionary and response measures. In Karachi, temperatures surged beyond 44°C, marking the hottest day of the year, as reported by the Pakistan Meteorological Department.…

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The United Arab Emirates has clarified that its decision to exit the Organization of the Petroleum Exporting Countries and the broader OPEC+ alliance is rooted in national priorities rather than geopolitical tensions. Speaking at the ‘Make It In The Emirates’ conference in Abu Dhabi, Sultan Al Jaber, CEO of Abu Dhabi National Oil Company, stated that the move was a sovereign decision aimed at strengthening the UAE’s economic and industrial future. He emphasised that the exit was “not directed against anyone,” despite speculation of growing tensions with Saudi Arabia. The…

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ISLAMABAD: A 16-member delegation of Pakistani entrepreneurs and business leaders is participating in the Select USA Investment Summit in National Harbor, Maryland, aiming to explore new investment opportunities and strengthen their global footprint in the United States. Organised by the United States Department of Commerce, the four-day summit is a premier platform connecting global investors, companies, and economic development organisations (EDOs). The event is expected to host around 6,000 participants, including 3,000 investors from over 100 countries. US Chargé d’Affaires Natalie A. Baker welcomed the Pakistani delegation, emphasising that strong…

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KARACHI: Pakistan’s oil sales declined in April as rising fuel prices dampened demand, while cement dispatches and fertiliser offtake posted notable gains, reflecting mixed trends across key sectors. According to data cited by Topline Securities, oil-marketing companies (OMCs) recorded sales of 1.36 million tonnes in April, down 7% year-on-year and 6% month-on-month. The decline was largely attributed to a sharp increase in fuel prices driven by geopolitical tensions in the Middle East. Petrol prices surged 21% month-on-month to an average of Rs374.73 per litre, while high-speed diesel (HSD) rose 26%…

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