Category: Latest News

ISLAMABAD: Pakistan is set to receive its seventh liquefied natural gas (LNG) cargo on Monday as the country continues to strengthen energy supplies amid heightened regional tensions following the Iran–U.S. conflict. The LNG carrier MRAIKH is scheduled to arrive at Port Qasim carrying 170,148 cubic metres of LNG loaded from Ras Laffan, Qatar, under a long-term contract priced at 13.37 percent of Brent crude. According to shipping data, the vessel departed from Qatar and is expected to reach the outer anchorage of Port Qasim around 6:00am (local time) before berthing…

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PESHAWAR: Chief Executive Officer of the Provincial Energy Development Organization (PEDO), Engineer Anwar-ul-Haq, has announced that construction work on several hydropower projects across Khyber Pakhtunkhwa has entered its final stages, with completion expected to generate more than Rs10 billion in additional annual revenue for the province. He made these remarks while addressing the oath-taking ceremony of the newly elected cabinet of the PEDO Officers Association (POA). The event was attended by Khyber Pakhtunkhwa Minister for Energy and Power, Nazir Ahmad Abbasi, as the chief guest. Engineer Anwar-ul-Haq highlighted PEDO’s growing…

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SINGAPORE: Global oil prices moved higher on Monday after Iran once again restricted shipping through the Strait of Hormuz and tensions resurfaced during the first round of U.S.-Iran talks held under an interim peace agreement. Brent crude futures gained 54 cents, or 0.67 percent, to reach $81.11 per barrel by 0030 GMT, after touching an intraday high of $82.30. Meanwhile, U.S. West Texas Intermediate (WTI) crude rose $2.02, or 2.64 percent, to $78.62 per barrel ahead of the expiry of the July contract. The more actively traded August WTI contract…

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BURGENSTOCK, SWITZERLAND: The United States and Iran have agreed on a roadmap to reach a comprehensive peace agreement within 60 days following marathon negotiations in the Swiss resort of Burgenstock, according to a joint statement issued on Monday by mediators Pakistan and Qatar. The talks, held under the framework of the Islamabad Memorandum of Understanding (MoU) signed last week, marked the first formal negotiating session since the breakthrough interim peace accord brokered with the support of Pakistan and Qatar. Prime Minister Shehbaz Sharif had signed the agreement as a mediator,…

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ISLAMABAD: The National Assembly Standing Committee on Finance and Revenue has raised serious concerns over the government’s proposed Climate Support Levy, questioning its purpose and demanding a clear roadmap for climate-related projects before imposing additional financial burdens on citizens. During a detailed review of the National Tariff Policy 2025-30 and provisions of the Finance Bill 2026-27, committee members directed tax authorities to redraft the proposed levy and clearly define its objectives. Lawmakers also expressed concerns that reduced import duties on scrap materials could pose environmental challenges, while approving an increase…

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