Category: Latest News

PM Shehbaz Sharif Announces Nationwide Austerity Measures to Cut Government Spending

Admin
Shahbaz-Sharif1

ISLAMABAD: Prime Minister Shehbaz Sharif on Monday announced a comprehensive national austerity policy aimed at reducing government expenditures and conserving fuel amid rising global energy prices and escalating tensions in the Middle East. In a televised address to the nation after chairing a special meeting on austerity measures, the prime minister said the region was facing heightened instability following the U.S.–Israel strike on Iran, adding that Pakistan was actively pursuing diplomatic efforts to help defuse the crisis. “The entire region is currently in a state of war,” he said, stressing…

Read More

Oil Prices Drop Over 6% as Trump Signals Possible Middle East De-escalation

Admin
oil-Price

Global oil prices plunged more than 6% on Tuesday after reaching their highest level in over three years a day earlier, as U.S. President Donald Trump suggested the conflict in the Middle East could soon come to an end, easing fears of prolonged supply disruptions. International benchmark Brent crude oil futures fell $6.51, or 6.6%, to $92.45 per barrel, while West Texas Intermediate (WTI) crude declined $6.12, or 6.5%, to $88.65. On Monday, oil prices had surged above $100 per barrel, with Brent and WTI touching session highs of $119.50…

Read More

Current Energy Crisis Could Be Pakistan’s Chance to Revive Local Industry: Report

Admin
Pakistan Petroleum Ltd makes third discovery in Sujawal

A sharp surge in global oil prices may push Pakistan to increase domestic oil and gas production as supply disruptions in the Middle East strain global energy markets, according to a research report by Topline Securities. The report noted that Brent crude prices have risen nearly 70 percent over the past month, including a 25 percent jump on March 9, driven by disruptions in global supply chains and tensions affecting shipping routes such as the Strait of Hormuz. Higher oil prices could increase Pakistan’s petroleum import bill but may also…

Read More

Petrol prices likely to rise again, efforts will be made to minimize burden on public, says PM Shehbaz

Admin
petrol hike

Shehbaz Sharif addressed the nation on Monday regarding the worsening situation in the Middle East and its economic impact on Pakistan, announcing a series of austerity measures to manage the country’s energy crisis and stabilize the economy. During his televised address, the prime minister expressed deep sorrow over the reported assassination of Iran’s Supreme Leader Ali Khamenei and members of his family. Visit Energy Update website for the latest news-related content He strongly condemned the Israeli attacks on Iran and also criticized strikes on Gulf countries including Saudi Arabia, Kuwait,…

Read More

KP Govt Announces Petrol Subsidy for Motorcycle Riders

Admin
New-Project94

Peshawar: The Khyber Pakhtunkhwa (KP) government has announced a petrol subsidy for motorcycle riders registered in the province, aiming to provide relief to the public amid rising fuel prices. Chief Minister Suhail Afridi stated that each rider will receive PKR 1,100 in two installments. To further ease public transport concerns, fares for the BRT system will remain unchanged. Finance Advisor Mazammil Aslam said that the total expenditure for the subsidy will be PKR 3.5 billion. Information Minister Shafi Jan added that the amount will be disbursed directly to riders’ CNICs,…

Read More