Category: Latest News

Karachi: Atif Ikram sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has expressed his grave concerns over the critical expansion in Pakistan’s trade deficit – which has surged by 20.28% to reach $32 billion during the first 10 months of the current fiscal year (July-April FY26). Atif Ikram Sheikh, in an urgent appeal to policymakers, emphasized that the only sustainable solution to stabilize the nation’s fragile external account and protect foreign exchange reserves shall be a comprehensive and fast-tracked strategy to aggressively incentivize the export…

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• Rs. 515 m approved to provide financial relief to fishing community Karachi, Thatta, Sujawal, and Badin.• Rs147.2m approved for consultancy of bridge over River Indus between Hyderabad and Kotri KARACHI (May 5): Sindh Chief Minister Syed Murad Ali Shah presided over a Cabinet meeting, where the l government approved a massive development, welfare and reform agenda involving more than Rs30 billion in allocations, grants and institutional initiatives aimed at improving infrastructure, healthcare, governance, education and public relief across Sindh.The meeting, held at CM House, was attended by provincial ministers,…

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KARACHI: Pakistan’s refining sector recorded a solid performance in April 2026, with total refinery uplift increasing by 12.7% year-on-year, driven primarily by higher demand for high-speed diesel (HSD) and furnace oil (FO), according to industry data. HSD uplift rose 11.3% to 442,000 tonnes, supported by tighter controls on alternative fuel inflows, potential disruptions in imports, and improved refinery utilisation. FO offtake also posted a sharp increase of 26% to 235,000 tonnes, while sales by oil marketing companies rose 62.7% to 137,000 tonnes. Motor spirit (petrol) uplift, however, edged down 1.7%…

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KARACHI: The Ministry of Petroleum Division Pakistan has directed Pakistan State Oil to suspend senior-level hiring and defer key management appointments as the tenure of its current Board of Directors nears completion later this month. According to an official communication, the existing PSO board is set to complete its statutory term on May 28, 2026. In anticipation, the government has initiated the process of constituting a new board under the State-Owned Enterprises (Governance and Operations) Act 2023 and the SOEs Policy 2023. PSO, the country’s largest oil marketing company, is…

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ISLAMABAD: The government is set to hold a high-level meeting on Tuesday (today) to address long-standing policy issues delaying Pakistan’s $6 billion refinery upgradation programme, as authorities seek to revive investment in the energy sector and strengthen fuel production capacity. The meeting at the Ministry of Finance Pakistan will bring together key officials, including the finance minister, petroleum minister, chairman of the Federal Board of Revenue, senior Petroleum Division officials, and chief executives of local refineries. A central agenda item is a proposal to increase and fix the Inland Freight…

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