Category: Latest News

KARACHI: Gas & Oil Pakistan Limited has announced its highest-ever 24-hour sales performance across its Company Owned, Company Operated (COCO) fuel stations, marking a major operational milestone for the company. The achievement reflects strong customer demand and the effectiveness of GO’s distribution network, supported by coordinated efforts across its retail operations to ensure consistent service delivery and fuel availability. A company spokesperson said the record performance highlights growing customer confidence in the brand and the dedication of on-ground teams. “We remain committed to delivering reliable service while maintaining the highest…

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ISLAMABAD: Attock Refinery Limited has resumed operations at its primary crude distillation unit (HBU-I) with a capacity of 32,400 barrels per stream day (BPSD), the company announced in a notice to the Pakistan Stock Exchange on Monday. The refinery stated that operations were restored following the normalisation of crude oil supplies and the resumption of product dispatches through oil tankers. The unit had been temporarily shut down in April due to logistical constraints linked to the expected arrival of foreign delegations in Islamabad. Incorporated in 1978 and later converted into…

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ISLAMABAD: A recent 100 basis points increase in the policy rate by the State Bank of Pakistan is expected to raise the financial liabilities of the Central Power Purchasing Agency Guaranteed on loans amounting to Rs1.225 trillion, secured to address circular debt in the power sector. The financing facility, arranged from 18 commercial banks for a six-year period, is linked to KIBOR minus 90 basis points. It includes Rs659.6 billion in restructured loans and Rs565.4 billion in fresh financing, previously used to retire Rs659 billion in liabilities of Power Holding…

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RAWALPINDI: The National Disaster Management Authority has issued comprehensive emergency protocols and placed hospitals on high alert as extreme, above-normal temperatures threaten millions across Pakistan. According to the NDMA’s Early Warning Team, daytime temperatures are expected to remain significantly above normal throughout May and June. All relevant stakeholders — including provincial authorities, rescue agencies, health departments, and federal institutions — have been directed to implement immediate precautionary and response measures. In Karachi, temperatures surged beyond 44°C, marking the hottest day of the year, as reported by the Pakistan Meteorological Department.…

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The United Arab Emirates has clarified that its decision to exit the Organization of the Petroleum Exporting Countries and the broader OPEC+ alliance is rooted in national priorities rather than geopolitical tensions. Speaking at the ‘Make It In The Emirates’ conference in Abu Dhabi, Sultan Al Jaber, CEO of Abu Dhabi National Oil Company, stated that the move was a sovereign decision aimed at strengthening the UAE’s economic and industrial future. He emphasised that the exit was “not directed against anyone,” despite speculation of growing tensions with Saudi Arabia. The…

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