Category: Latest News

ISLAMABAD: Petroleum dealers have urged consumers to avoid panic buying, warning that excessive fuel purchases could create artificial shortages and disrupt market stability, even as talks between Jamaat-i-Islami (JI) and the government over reducing the petroleum levy remain inconclusive. Pakistan Petroleum Dealers Association (PPDA) Chairman Malik Khuda Baksh told reporters on Friday that the balance between fuel supply and demand had been maintained through coordination among the government, industry and consumers. He said the recent closure of the Iran border had put the liquefied petroleum gas (LPG) market under pressure,…

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ISLAMABAD: Oil and Gas Development Company Limited (OGDC) has secured first place among 104 publicly listed companies in Pakistan in Transparency International Pakistan’s 2026 corporate reporting assessment, scoring 92.71 per cent and earning a place in the “Significantly Transparent” category. The state-owned energy company’s score was substantially higher than the overall average of 66.73 per cent. OGDC achieved perfect scores of 100 per cent in anti-corruption programmes, organisational transparency, domestic financial reporting, and gender equality, non-discrimination and disability inclusion. The ranking reflects the company’s disclosure of corporate governance practices, financial…

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ISLAMABAD: Global oil prices have surged to their highest levels since May, intensifying concerns over inflation, fuel costs and economic growth as escalating tensions in the Middle East threaten energy supplies and disrupt international shipping. The rally has weighed on financial markets in Pakistan, India, the United States and the United Kingdom, while uncertainty surrounding liquefied natural gas (LNG) supplies has heightened risks for energy-importing economies. Brent crude climbed to $115 per barrel, while US West Texas Intermediate (WTI) approached $101, according to the supplied market data. The increases reflect…

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ISLAMABAD: Senators on Friday expressed concern over Pakistan’s petroleum supply situation amid escalating tensions in West Asia, urging the government to brief Parliament on its contingency plans to address potential shortages. Speaking on a point of public importance in the Senate, PPP Vice President Senator Sherry Rehman said the regional conflict and reports of renewed attacks on Iran had heightened uncertainty over the country’s energy security. She called on the ministers for petroleum and power to brief the House on Monday or Tuesday. Rehman noted that Pakistan had received five…

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ISLAMABAD: The Cabinet Committee on Disposal of Legislative Cases on Friday approved proposals to increase fines and penalties for overloading, along with draft amendments and rules concerning petroleum levies and business regulations. The meeting, chaired by Federal Minister for Law and Justice Senator Azam Nazeer Tarar, also granted in-principle approval to the National Highways and Motorway Police Seniority Rules 2026. Minister of State for Finance and Revenue Bilal Azhar Kiani and senior officials from the relevant ministries and divisions attended the meeting. The committee reviewed legal and administrative matters related…

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