Category: Latest News

Petrol Price Cut by Rs10.28, Diesel Down Rs8.57 for Next Fortnight

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The government on Wednesday announced a significant reduction in petroleum prices for the next fortnight, cutting petrol by Rs10.28 per litre and high-speed diesel (HSD) by Rs8.57 per litre. According to a late-night notification issued by the Petroleum Division, the price revision was made in line with fluctuations in international oil markets and recommendations from the Oil and Gas Regulatory Authority (Ogra). The ex-depot price of petrol has been reduced to Rs253.17 per litre from Rs263.45. Petrol is widely used in private transport, motorcycles, rickshaws and small vehicles, and its…

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Double-Decker Buses Introduced in Karachi; Public Access from January 1

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Karachi witnessed the inauguration of double-decker buses on Wednesday, with Sindh Senior Minister Sharjeel Inam Memon announcing that the buses would be available to the public from January 1. Speaking at the launch, Memon, who also holds the transport portfolio, said, “Today marks the beginning of double-decker bus services in the city. They will be available to the public from tomorrow, and today, they will be tested on the city’s roads.” The buses were inaugurated alongside Sindh Local Government Minister Syed Nasir Hussain Shah, more than a year after the…

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Oil Industry Urges Government to Suspend Fotco’s Flow-Rate Penalties

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KARACHI: Pakistan’s oil sector has urged the federal government to intervene and suspend Fauji Oil Terminal & Distribution Company Limited’s (Fotco) unilateral imposition of flow-rate penalties on oil marketing companies (OMCs) and their import/export vessels, effective January 1, 2026. In a letter to the Director-General Oil, Petroleum Division, the Oil Companies Advisory Council (OCAC) warned that Fotco’s action, implemented without any legal or contractual basis, constitutes disproportionate commercial leverage and could impose unsustainable financial burdens on OMCs. Industry margins have remained stagnant for over two years, leaving companies unable to…

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OGDC Eyes Strategic Partnerships in Libya and Vietnam to Boost Energy Supplies

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ISLAMABAD: The Oil and Gas Development Company (OGDC), Pakistan’s largest oil and gas explorer, is planning overseas hydrocarbon exploration in collaboration with Russian and Turkish energy firms, sources told The Express Tribune. OGDC aims to form joint ventures with Russian energy giant Gazprom and Turkish Petroleum for both onshore and offshore exploration projects in Libya and Vietnam, seeking to diversify energy supplies and reduce Pakistan’s energy import bill. Talks with the Russian and Turkish companies are reported to be at an advanced stage. Domestically, OGDC is already part of a…

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Pakistan Signs Major Climate Resilience Initiatives with Asian Development Bank

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ISLAMABAD: Pakistan and the Asian Development Bank (ADB) on Tuesday formalized two major climate resilience projects targeting Sindh and Punjab, the Economic Affairs Division (EAD) said in a statement. The initiatives include the $180.5 million Sindh Coastal Resilience Sector Project (SCRP) and the $124 million Punjab Climate-Resilient and Low-Carbon Agriculture Mechanisation Project, aimed at bolstering climate adaptation, sustainable agriculture, and inclusive development. Economic Secretary Muhammad Humair Karim praised ADB as a trusted development partner and highlighted the projects’ transformative potential. The SCRP will strengthen integrated water resource and flood risk…

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