Author: Admin

Fuel Price Hike Intensifies Ramazan Inflation Burden Across Pakistan

Admin
petrol-price

LAHORE / PESHAWAR / KARACHI: The recent Rs55 per litre increase in fuel prices has triggered widespread economic ripple effects across Pakistan, driving up transportation costs, pushing food prices higher and placing additional strain on households already grappling with traditional inflation during the holy month of Ramadan. Citizens from different walks of life say the sharp hike has further complicated daily survival amid rising living costs. “It was the last thing Pakistanis needed and the government delivered it mercilessly,” said one respondent, adding that managing household expenses has become an…

Read More

Oil Price Surge Narrows Scope for Interest Rate Cuts in Emerging Markets

Admin
New-Oil-1

LONDON: A sharp surge in global oil prices triggered by the escalating conflict involving Iran has significantly reduced the room for interest rate cuts among emerging market central banks, as policymakers confront rising inflation risks and growing market uncertainty. After years of economic shocks — including the COVID-19 pandemic and the Russian invasion of Ukraine — many central banks had recently begun signaling optimism about easing inflation and strengthening global economic resilience. However, the latest escalation in the Middle East following military actions by the United States and Israel against…

Read More

Saudi Arabia Activates Desert Oil Pipeline to Bypass Strait of Hormuz Crisis

Admin
New-Project97

RIYADH: Amid severe disruptions to global oil shipments caused by escalating Middle East tensions, Saudi Arabia has activated a long-standing contingency plan to transport crude oil across the desert to the Red Sea, bypassing the strategic Strait of Hormuz. With the critical shipping route effectively blocked due to the ongoing conflict involving Iran, the Gulf’s major petroleum exporters are facing an unprecedented logistical crisis. Attacks on energy infrastructure and growing regional instability have forced producers to look for alternative routes to maintain global supply. To manage the disruption, Saudi state-owned…

Read More

IMF Mission Unable to Reach Staff-Level Agreement with Pakistan; Talks to Continue

Admin
New-IMF

ISLAMABAD: The mission of the International Monetary Fund (IMF) on Thursday confirmed that it could not reach a staff-level agreement (SLA) with Pakistan on the third review of the country’s $7 billion Extended Fund Facility (EFF) and the second review under the Resilience and Sustainability Facility (RSF), although discussions made considerable progress. In its end-of-mission statement, the IMF said the delegation, led by Iva Petrova, held detailed talks with Pakistani authorities in Karachi and Islamabad, as well as virtually, from February 25 to March 11. “While considerable progress was made…

Read More

No shortage of LPG in the country and sufficient reserves are available.

Admin
LPG-Price

Lahore: Two ships, ARIES with 11,000 metric tons and ATLANTIC with 12,000 metric tons, have docked at Port Qasim. Additionally, two more LPG consignments, ULLSWATER with 3700 tons and MD23 with 3500 tons, will arrive before Eid al-Fitr. This was stated by Irfan Khokhar, Chairman of the LPG Distributors Association, in an interview with Express. He said that although the official price of LPG is Rs 225 per kg, the gas mafia is selling it at Rs 350-450 per kg, citing the US-Iran war and rising global oil prices, which…

Read More