Category: Latest News

SINGAPORE: Global oil prices fell on Monday amid expectations of increased Russian fuel supplies after US President Donald Trump said Russia and Ukraine had agreed to halt attacks on each other’s energy infrastructure. Brent crude futures declined $1.54, or 1.47 per cent, to $103.18 a barrel by 0154 GMT, while US West Texas Intermediate (WTI) crude fell by the same amount to $90.31 a barrel, down 1.68 per cent. ICE gasoil futures, a benchmark for diesel, dropped 3 per cent to $1,436 per barrel after Trump announced that Russia would…

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LAHORE: Pakistan’s volatile petroleum prices have continued to squeeze household budgets in 2026, with petrol and diesel remaining significantly more expensive despite repeated price cuts. As of October 10, petrol stood at Rs398.30 per litre, up Rs145.13 from its starting level, while high-speed diesel (HSD) reached Rs396.24 per litre, an increase of Rs139.16. Since the introduction of daily petroleum price adjustments on July 21, petrol prices have been increased 35 times and reduced 22 times, while diesel prices have undergone 34 increases and 23 cuts. The frequent revisions have left…

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Karachi: Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), has acknowledged the government’s reduction of the industrial electricity tariff from 16 cents to 12 cents per unit over the last two years. He said that a further reduction to below 9 cents, extended to all industrial consumers, is the definitive way to raise exports and reduce imports. Atif Ikram Sheikh cautioned that the 12-cent rate and selective schemes are temporary fixes, and that only a uniform reduction for all industry, including B3 and…

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ISLAMABAD: The World Bank has urged the Pakistani government to ensure that people affected by the Dasu Hydropower Project are protected from threats, intimidation and possible retaliation after they lodged a complaint with the institution’s independent Inspection Panel over potential adverse social impacts of the project’s Stage-I transmission line. In a letter addressed to Secretary Economic Affairs Muhammad Humair Karim, World Bank Country Director for Pakistan Bolormaa Amgaabazar stressed the importance of safeguarding complainants, victims and witnesses who raise concerns about projects financed by the institution. The complainants believe they…

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ISLAMABAD: Pakistan has invited Dutch investors to explore investment opportunities in the country, particularly through public-private partnerships (PPPs), as the government seeks to translate macroeconomic stabilisation into export-led growth, increased private investment and employment generation. Federal Minister for Finance and Revenue Muhammad Aurangzeb hosted a luncheon in honour of a Dutch business delegation led by the Founders Carbon Network (FCN), accompanied by Ambassador of the Kingdom of the Netherlands to Pakistan Robert-Jan Siegert. The event was attended by the Adviser to the Prime Minister on Privatisation, Governor of the State…

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