Category: Latest News

ISLAMABAD: The federal government has collected over Rs180 billion from consumers through the Petroleum Development Levy (PDL) in just six weeks, reflecting a sharp surge in revenue amid heightened geopolitical tensions. According to officials in the Ministry of Finance, PDL collections rose significantly during the recent escalation involving the United States and Iran, placing an increased financial burden on petroleum consumers across the country. Cumulatively, from July of the მიმდინარე fiscal year to mid-April, the government has amassed Rs1,234 billion under the levy—around Rs400 billion higher than the same period…

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WASHINGTON: US President Donald Trump on Friday declared the Strait of Hormuz “fully open and ready for full passage,” even as Washington continues to enforce a naval blockade targeting Iran until a final agreement is reached. The announcement came shortly after Iranian Foreign Minister Abbas Araqchi confirmed that the vital waterway would remain open for all commercial vessels during the Lebanon ceasefire. However, Iranian officials clarified that military vessels are still barred, underscoring the conditional nature of the reopening. Despite signaling de-escalation in one of the world’s most critical energy…

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Islamabad: April 16, 2026 Federal Minister for Energy (Power Division) Sardar Awais Ahmed Khan Leghari met with Mr. Sam Waldock, Development Director at the British High Commission. The meeting focused on bilateral cooperation and the geo-strategic situation in the region. The Federal Minister appreciated the United Kingdom’s recognition of Pakistan’s constructive and pivotal role in facilitating a ceasefire between the United States and Iran, as well as hosting peace negotiations. He stated that acknowledgment of Pakistan’s diplomatic efforts reflects positively on its continued engagement for regional peace and stability. Mr.…

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Islamabad, April 16, 2026: Federal Minister for Petroleum Ali Pervaiz Malik jointly launched, along with British High Commissioner to Pakistan H.E. Jane Marriott, a capacity-building initiative aimed at strengthening Pakistan’s geoscientific capabilities and supporting the development of the country’s mineral sector. The programme was formally inaugurated at the Geological Survey of Pakistan (GSP), marking a significant step in Pakistan-UK collaboration The initiative is being delivered through the UK-funded REMIT programme in partnership with International Geoscience Services (IGS), a UK-based geoscience consultancy with extensive experience in supporting geological survey organisations worldwide.…

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