Category: Latest News

Economy amidst conflicts

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Economy amidst conflicts

Confronted by escalating tensions in the Middle East and repeated disruptions to shipping through the Strait of Hormuz, Pakistan has begun taking concrete steps to establish its first-ever Strategic Petroleum Reserves (SPR). The country currently operates largely on a fragile, just-in-time commercial inventory model, with petroleum stocks providing only limited protection against prolonged supply disruptions. Under the proposed strategy, the government plans to establish a 45-day emergency oil buffer in the first phase, with a longer- term objective of expanding reserve capacity to 90 days. These stocks could be requisitioned by the…

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Gwadar: The Port That Can Redraw Asia’s Energy and Trade Map 

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Alpha

Gwadar’s deep-sea location could reduce shipping congestion and insurance costs, enabling an energy storage and refining hub. Linked to rail and CPEC corridors, it may accelerate Eurasian trade and boost Balochistan—if security and investment hold. The development of the deep-sea port at Gwadar Port represents far more than a regional  infrastructure project. It is potentially one of the most consequential economic transformations in  South Asia and the broader Eurasian region. Located on Pakistan’s southwestern coast along the  Arabian Sea, Gwadar occupies a rare geographic advantage: it sits just outside the…

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Pakistan, Kuwait explore broader defence, energy pact – report

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The talks between Pakistan and Kuwait are expected to gain momentum once tensions between the US and Iran ease. Credit: em_concepts / Shutterstock.com Pakistan and Kuwait are in discussions over a broadened defence arrangement that could also cover energy collaboration and investment, Reuters reported, citing unnamed sources. The negotiations remain at an early stage and may be affected by rising tension between the US and Iran. Kuwait wants Islamabad to demonstrate a similar level of military commitment to the mutual defence agreement Pakistan struck with Saudi Arabia last year, a Pakistani government…

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Petroleum rates in Pakistan for July 21, 2026

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The Oil and Gas Regulatory Authority (Ogra) updates petroleum products prices on a daily basis on its website to ensure transparency and allow the immediate impact of international price fluctuations to be passed on to consumers. The daily pricing is based on a seven-day weekly average of international market prices to align with international standards, according to Petroleum Minister Ali Pervaiz Malik. Here are revised fuel rates: Date Products Old rates New rates Change in pricesRs/litre 21-07-2026 Motor spirit 316.15 315.8 -0.35 (Decrease) 21-07-2026 High-speed diesel 354.35 360.06 +5.71 (Increase)…

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Humaira Zia Mufti Appointed Chairperson of Pakistan Engineering Company

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ISLAMABAD: The federal government has appointed Humaira Zia Mufti, Additional Secretary (AS-I) at the Ministry of Industries and Production, as Ex-Officio Director and Chairperson of Pakistan Engineering Company Limited (PECO) with immediate effect. The appointment was announced by PECO in a notice submitted to the Pakistan Stock Exchange (PSX) on Monday. According to an official notification issued by the Ministry of Industries and Production, the Secretary of the ministry has nominated Humaira Zia Mufti to represent the Government of Pakistan on the PECO Board as its Ex-Officio Director and Chairperson.…

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