Category: Latest News

President Zardari Orders Urgent Measures to Curb Inflation, Protect Vulnerable

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Asif-Zardari

ISLAMABAD: President Asif Ali Zardari on Monday directed authorities to take all possible steps to ease the burden of rising prices on citizens, particularly amid mounting oil and gas supply pressures, escalating energy costs, and an evolving regional situation. Chairing a high-level consultative meeting at Aiwan-e-Sadr, the president stressed the need to protect low-income groups from inflation in essential goods and services. The meeting was attended by Prime Minister Shehbaz Sharif, along with chief ministers of all provinces, representatives from Gilgit-Baltistan and Azad Jammu and Kashmir, and senior federal officials.…

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Rising Fuel Prices Push Shift Toward Electric Vehicles in Pakistan

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electric-vehicles

Amid soaring fuel prices, industry experts say Pakistan is witnessing a growing shift toward New Energy Vehicles (NEVs), a transition that could significantly reduce the country’s dependence on imported petroleum. According to Danish Khaliq, Vice President Sales and Strategy at BYD Pakistan-Mega Motor Company, the current fuel price environment is strengthening the case for accelerated adoption of NEVs. With petrol prices rising by 20–25%, the cost of operating conventional vehicles has surged, making electric and hybrid alternatives increasingly attractive. He emphasized that targeted government support will be crucial to sustain…

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Power Sector Circular Debt Nears Rs1.9 Trillion, Raising IMF Concerns

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New-DEBT

ISLAMABAD: Pakistan’s power sector circular debt is projected to approach Rs1.9 trillion, rising from Rs1.689 trillion recorded during the first half (July–December) of FY2025-26, according to sources in the Power Planning and Monitoring Company. As of February 28, 2026, the circular debt stock stood at Rs1.889 trillion, reflecting a sharp increase of nearly Rs200 billion in just two months. The surge comes amid mounting economic pressure linked to Middle East tensions and renewed concerns from the International Monetary Fund, which has termed the issue a serious risk to Pakistan’s economic…

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PM Shehbaz Defends Spending Cuts, Vows Relief for Vulnerable Amid Petroleum Crisis

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Petrol-Price

ISLAMABAD: Prime Minister Shehbaz Sharif on Monday defended the government’s decision to slash expenditures and reduce the development budget, saying the measures were necessary to create fiscal space for public relief amid ongoing regional tensions impacting petroleum markets. Chairing a high-level review meeting on the fallout of the Gulf crisis, fuel reserves, and relief initiatives, the prime minister revealed that government spending had been curtailed, the development budget trimmed, and 60% of official vehicles ordered to be immediately decommissioned. He emphasized that proposals to increase fuel prices had been consistently…

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Oil Prices Slip 1% Amid Signals of Possible US De-escalation with Iran

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New-oil

Oil prices retreated in Asian trading on Tuesday, reversing earlier gains after reports suggested that Donald Trump is open to ending the ongoing military campaign against Iran—even if the strategic Strait of Hormuz remains largely closed for now. Brent crude futures for May delivery fell by $1.22, or 1.08%, to $111.56 per barrel by 0210 GMT, after earlier rising 2% during the session. The more actively traded June contract stood at $105.76. Meanwhile, US West Texas Intermediate (WTI) crude for May declined by 98 cents, or 0.95%, to $101.90 per…

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