Category: Latest News

Karachi, 9th March 2026 — The Karachi Port Trust (KPT), in coordination with its private container terminals, has taken a significant step to alleviate port congestion by waiving demurrage charges on auctionable and auctioned containers, provided they are cleared within seven days of auction. The decision was reached following constructive engagement between KPT and the private terminal operators, reflecting a collaborative approach to improving operational efficiency at the port. The initiative is expected to facilitate Pakistan Customs in expediting the clearance of long-pending containers while providing relief to the trade…

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Islamabad (Tanveer Hashmi): The Federal Board of Revenue (FBR) has formed a committee to implement additional austerity measures. The committee includes Chief Admin Finance, Chief IR Operations, and Chief Customs Operations. The decision was made during a meeting of all field office heads chaired by FBR Chairman Rashid Mahmood Langrial. The committee will ensure implementation of all austerity measures announced by the federal government. The Chief Operations will ensure that 60% of official vehicles in field offices are grounded and parked at headquarters and Director Generals’ offices immediately.

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Karachi (Rafiq Mangat): The ongoing conflict with Iran has cost the US Treasury a staggering $10.35 billion (approximately Rs 28.94 trillion) in just 10 days, with the initial 2 days accounting for $5.6 billion (Rs 15.65 trillion) worth of ammunition. Reports indicate the US is spending an average of $1.43 billion (Rs 4 trillion) daily on the conflict. The US has used over 2,000 precision-guided munitions, including Tomahawk missiles costing $2 million (Rs 560 million) each, targeting over 5,000 sites. Daily costs include $59 million (Rs 16.5 billion) for military…

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KARACHI: Pakistan has received its first petrol shipment following concerns over supply disruptions caused by the closure of the Strait of Hormuz amid the US-Israel–Iran conflict, ARY News reported on Tuesday. The arrival of the gasoline-laden vessel MT Nave Atropos, carrying 50,000 metric tonnes of petrol, has eased fears of an immediate fuel shortage in the country. The ship docked at the FOTCO Terminal, Port Qasim, as authorities confirmed that fuel shipments are steadily reaching Karachi. Two additional tankers are expected soon: MT Spross Two, carrying 55,000 tonnes of petrol,…

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