Category: Latest News

Increased SBP facilitation: Import of oil, POL items, LNG in focus

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state of bank

KARACHI: The State Bank of Pakistan (SBP) on Thursday empowered banks to issue Financial Instruments (FIs) at the time of registration of import contracts for crude oil and petroleum products, citing the prevailing geopolitical situation. The SBP has also allowed banks to issue Standby Letters of Credit (SBLCs) to facilitate the import of crude oil, petroleum products and liquefied natural gas (LNG). The SBP has announced amendments to instructions relating to “Imports under Pakistan Single Window (PSW)-Financial Instrument Details” and “Guarantees on behalf of Residents of Pakistan in favor of…

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Petroleum Div decides to float spot tenders for LNG

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Mari-Petroleum

ISLAMABAD: The Petroleum Division has reportedly decided to float spot tenders for Liquefied Natural Gas (LNG) following a decision taken by the National Coordination and Management Council (NCMC), aimed at restoring operations of RLNG-fired power plants with a cumulative capacity of over 5,500 MW. These plants are currently shut down due to suspension of LNG supplies from Qatar owing to declaration of force majeure, well-informed sources told Business Recorder. Prime Minister Shehbaz Sharif had constituted the NCMC as a central platform, comprising representatives from federal and provincial stakeholders, to facilitate informed…

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The Federation of Pakistan Chambers of Commerce & Industry (FPCCI)

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FPCCI

25th April 2026 FPCCI Announces Formation of National Committees on International Forums to Strengthen Global Engagement Atif Ikram Sheikh, President FPCCI Karachi: Mr. Atif Ikram Sheikh, President FPCCI, has announced the formation of National Committees on various international forums including ECO CCI, Pakistan–EU Business Forum, CACCI, Pakistan–ASEAN Business Forum, Commonwealth, D-8 CCI and OIC – and, has also launched their membership drive among trade bodies, chambers and associations across the country. Mr. Atif Ikram Sheikh stated that this important initiative will significantly enhance Pakistan’s effective representation and proactive participation in…

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Pakistan facing escalating environmental crisis due to governance gaps, says NFEH chief

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Naeem-Qureshi

Karachi, April 23, 2026 The President of the National Forum for Environment & Health (NFEH), Muhammad Naeem Qureshi, has expressed serious concern over the continuing lack of coordination between federal and provincial governments in addressing Pakistan’s worsening environmental challenges. In his Earth Day statement issued on April 22, he noted that despite repeated climate-induced disasters—including severe floods and increasingly intense rainfall patterns—Pakistan still lacks a unified and effective national strategy to manage environmental emergencies. He warned that fragmented governance and delayed response mechanisms are resulting in significant human and economic…

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Pakistan Sets Up High-Level Committee to Develop Strategic Petroleum Reserves

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energy-security

ISLAMABAD: Pakistan has taken a significant step toward strengthening its energy security by forming a high-level committee to develop and operationalise Strategic Petroleum Reserves (SPR), aimed at reducing exposure to global oil price volatility and potential supply disruptions. According to an official notification issued by the Ministry of Energy (Petroleum Division), the committee has been tasked with submitting its recommendations and implementation roadmap by May 8, 2026. The decision follows a meeting chaired by the Federal Minister for Petroleum and establishes a broad-based framework bringing together senior government officials, security…

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