Category: Latest News

Oil Prices Climb to Six-Week High as Middle East Shipping Tensions Intensify

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Oil prices

Oil prices extended their gains in Asian trading on Thursday, rising more than 2% to their highest levels in over six weeks as escalating security threats in the Strait of Hormuz and the Red Sea heightened concerns over global crude supplies. Brent crude futures surged $2.20 (2.3%) to $96.27 per barrel, the highest level since early June, after settling at $94.07 in the previous session following a gain of more than 3%. US West Texas Intermediate (WTI) crude also advanced, climbing $1.65 (1.9%) to $88.48 per barrel, building on Wednesday’s…

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Petrol Pump Owners Divided After Government Talks as Strike Call Splits

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New-Petrol

ISLAMABAD: The government’s last-minute negotiations with the All Pakistan Petroleum Pump Owners Association (APPPOA) on Wednesday resulted in a split within the association, with one faction agreeing to postpone its planned nationwide strike for two weeks, while the other insisted the shutdown would proceed as scheduled. The association had earlier announced that nearly 15,000 petrol stations across Pakistan would close from Wednesday midnight after initial talks with the government failed over key demands, including opposition to daily petroleum pricing, an increase in dealers’ commission, and the removal of supply quotas…

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P@SHA ICT Awards 2026 Officially Launched

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Applications Now Open for Pakistan’s Premier Technology Awards Karachi: The Pakistan Software Houses Association for IT & ITES (P@SHA), the apex trade body representing Pakistan’s IT and IT-enabled Services (ITeS) industry, has officially launched the 22nd edition of the P@SHA ICT Awards, inviting technology companies, startups, entrepreneurs, students, women-led businesses, and public sector innovators from across the country to submit their nominations. For more than two decades, the P@SHA ICT Awards have served as Pakistan’s premier platform for recognizing innovation, excellence, and technological achievement. The awards, scheduled to take place…

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Grid Electrification to Lower Thar Coal Mining Costs, Rail Link to Boost Local Coal Use: Study

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Pakistan-Railway

KARACHI: The cost of mining coal in Pakistan’s Thar coalfield is expected to decline by around $0.70 per tonne as mining operations shift from diesel-powered equipment to grid electricity, according to a new study released by the Pakistan Credit Rating Agency (PACRA). The study also projects that the Thar Coal Rail Connectivity Project will become operational by late 2026, significantly improving coal transportation and enabling wider use of Thar lignite beyond mine-mouth power plants. Pakistan’s coal consumption increased sharply to 21.4 million tonnes during the first nine months of FY2025-26,…

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Pakistan Forced to Buy Costly LNG as Middle East Conflict Disrupts Supplies

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LNG-2026

ISLAMABAD: Pakistan has been forced to purchase one of its most expensive liquefied natural gas (LNG) cargoes in years as prolonged disruptions in the Middle East continue to tighten global supplies, placing additional pressure on the country’s finances and accelerating efforts to reduce dependence on imported LNG. According to a Bloomberg report, state-owned Pakistan LNG Limited (PLL) purchased a cargo for late July delivery at around $21.88 per million British thermal units (mmBtu) on Monday, the highest spot price paid by the country since 2022. Neighbouring Bangladesh has also been…

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