Category: Latest News

ISLAMABAD: Azerbaijan has expressed confidence that ongoing discussions on its planned investments in Pakistan’s energy sector will soon translate into concrete projects, reflecting the growing strategic and economic partnership between the two countries. The assurance came during a meeting between Azerbaijan’s outgoing Ambassador Khazar Farhadov and Federal Minister for Commerce Jam Kamal Khan at the Ministry of Commerce, where both sides reviewed the progress achieved in Pakistan–Azerbaijan relations during the ambassador’s tenure. Jam Kamal praised Ambassador Farhadov for his significant contribution to strengthening bilateral relations and noted that the close…

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LAHORE: Punjab Minister for Industries and Commerce Chaudhry Shafay Hussain has described the electric vehicle (EV) industry as the future of Pakistan, emphasizing that the Punjab government is actively promoting the sector under the vision of Chief Minister Maryam Nawaz. Speaking as the chief guest at the launch ceremony of a locally manufactured electric motorcycle, jointly developed by China’s X-Free Energy Technology Group and Pakistan’s Creative Group, the minister said the provincial government has made the growth of the EV industry one of its top priorities. During the ceremony, held…

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Petrol imported into Pakistan from the international market costs approximately Rs195–196 per litre when it arrives at the country’s ports. However, by the time it reaches consumers at petrol stations, its retail price rises to around Rs335–350 per litre. This raises an important question: Where does the additional amount go, and who receives it? As soon as the fuel arrives at the port, customs duties, port handling charges, and other import-related costs add approximately Rs17–18 per litre to its price. This is followed by several other taxes, levies, and distribution…

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SINGAPORE: Global oil prices fell more than 5 percent on Monday after the United States and Iran paused military strikes over the weekend, raising hopes for a diplomatic breakthrough that could ease regional tensions and restore shipping through the strategic Strait of Hormuz. Brent crude futures dropped $4.89, or 5.05 percent, to $91.89 per barrel by 0009 GMT, briefly falling below the key $90 support level during early trading. Meanwhile, US West Texas Intermediate (WTI) crude declined $4.67, or 5.23 percent, to $84.64 per barrel. Both benchmark contracts touched their…

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ISLAMABAD: Pakistan’s flagship hydropower projects have witnessed significant cost escalations, with the Ministry of Water Resources attributing the increases to persistent inflation, steep currency depreciation, project delays, and a range of technical, administrative, and security-related challenges. According to the ministry, the Diamer Basha Dam, Mohmand Dam, Dasu Hydropower Project (Stage-I), and Tarbela 5th Extension have all experienced substantial revisions in their project costs due to rising construction material prices, exchange rate volatility, Interest During Construction (IDC), enhanced security measures, land acquisition issues, social safeguards, design modifications, and extended implementation schedules.…

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