Category: Latest News

Senate Committee Calls for Urgent Infrastructure Development to Support EV Adoption

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electrical-vehicles

ISLAMABAD – The Senate Standing Committee on Industries and Production has called on the federal government to swiftly develop the necessary infrastructure to support the transition to electric vehicles (EVs), citing growing concerns over climate change and the continued reliance on fossil fuels. Chaired by Senator Aon Abbas, the committee highlighted the lack of EV charging stations across Pakistan, even in major urban centers like Lahore, with the situation far worse in remote regions. Members stressed that without immediate action, environmental degradation will accelerate due to increasing vehicle emissions. Officials…

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Govt Forms Committee to Digitise Fuel Payments and Curb Cash-Based Economy

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Cash-Based

ISLAMABAD – In a major step toward financial digitisation, the federal government has formed a seven-member committee to develop a comprehensive mechanism for digitising fuel payments at petrol stations nationwide. The initiative is set to be a key feature in the upcoming federal budget, as part of the government’s broader plan to combat the country’s high reliance on cash. The committee, constituted on the directives of Finance Minister Muhammad Aurangzeb, will be led by Sharjeel Murtaza, Chief Digital Officer at Karandaaz Pakistan. Other members include digital reforms consultant Ali Jan…

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US natgas prices jump on lower output, higher demand

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Gas

NEW YORK: US natural gas futures jumped about 8% to a three-week high on Monday on a drop in output forecasts for warmer weather and higher demand this week than previously expected. Analysts said gas prices also gained some support from a 5% increase in US oil futures after OPEC+ kept its output increase unchanged. Gas futures for July delivery on the New York Mercantile Exchange rose 27.3 cents, or 7.9%, to $3.72 per million British thermal units, putting the contract on track for its highest close since May 9.…

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Indonesia Jan-April palm oil exports at 6.41m metric tons

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opec

JAKARTA: Indonesia exported 6.41 million metric tons of crude and refined palm oil in the January to April period, down 5.37% on a yearly basis, data from the statistics bureau showed on Monday. However, due to higher prices, the shipments were worth $7.05 billion in the first four months of 2025, up 20% from the same period in 2024. The bureau’s data excludes palm kernel oil, oleochemicals and biodiesel. Indonesia’s palm oil association GAPKI usually releases its own data at a later date, which cover more products and so has…

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Move to cushion PSO: Exchange rate losses adjusted into petrol prices

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Petrol-Diesel

ISLAMABAD: To cushion Pakistan State Oil (PSO) against exchange rate losses, the federal government has adjusted its fortnightly petroleum pricing, effective June 1, 2025, by reducing the Inland Freight Equalization Margin (IFEM) and slightly increasing average of Platts with incidentals and duty. The federal government adjusted Rs2.17 per litre exchange rate losses into petrol prices which led to increase in petrol prices by Re1 per litre with effect from June 1 to 15. With a major importer, state-owned PSO has 55 percent share in total petroleum products. The Oil and…

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