Category: Latest News

Oil industry prompts government to discourage hoarding as petrol stocks decline to 14-day cover

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Petrol-Diesel

ISLAMABAD: Pakistan’s oil supply chain players appeared nervous as petrol stocks declined to a 14-day cover on Thursday, prompting the government to urgently address procedural issues and activate enforcement mechanisms to discourage hoarding for profiteering in the market. The decline comes amid rising prices following renewed US-Iran hostilities. Informed sources said the government may have to revert to the fuel conservation measures adopted over the past couple of months as it reviews the latest regional situation. A session with the oil industry, urgently convened by the recently created National Coordination and Management Council (NCMC)…

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NCMC Confirms Sufficient Petroleum Stocks Nationwide, Directs Strict Action Against Hoarding

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New-Project238

Islamabad, July 16, 2026: The National Coordination and Management Council (NCMC) today convened a meeting to comprehensively review the availability and supply of petroleum products across the country. The meeting was attended by representatives of the Oil Companies Advisory Council (OCAC), the Federal Board of Revenue (FBR), the Oil and Gas Regulatory Authority (OGRA), and other relevant stakeholders. The Council reviewed the current petroleum supply situation and noted with satisfaction that sufficient stocks of petroleum products are available nationwide to meet prevailing demand. During the meeting, supply-side challenges highlighted by…

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Power Sector Circular Debt Misses IMF Target as K-Electric Dues and Discos’ Performance Weigh on Finances

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IMF-power

ISLAMABAD: Pakistan’s power sector has failed to meet its circular debt reduction target agreed with the International Monetary Fund (IMF), largely due to unpaid dues by K-Electric (KE) and the weak financial performance of several power distribution companies (Discos). According to official sources, the government had committed to reducing the power sector’s circular debt stock to Rs1.614 trillion by June 30, 2026. However, the actual stock stood at approximately Rs1.835 trillion, leaving a shortfall of more than Rs220 billion despite adjustments made against K-Electric’s claims. Officials attributed the gap primarily…

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Iranian Oil Tankers Signal Karachi as Destination Amid Renewed U.S. Sanctions

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New-Project237

ISLAMABAD: Two oil tankers carrying approximately one million barrels of Iranian crude have signalled Karachi as their next destination, an unusual development that analysts believe is more likely linked to operational strategy than any plan to unload cargo in Pakistan. According to Bloomberg, the tankers Rani and Amil changed their destination signals to Karachi on Tuesday after already exiting the Persian Gulf, shortly before the United States reimposed stricter enforcement measures targeting Iranian oil shipments. Maritime analysts believe the vessels are unlikely to discharge their cargoes in Pakistan, as doing…

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LPG Industry Urges Price Revision and Balochistan Route Restoration to Avert Winter Supply Shortage

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lpg

LAHORE: Pakistan’s LPG industry has urged the government to immediately revise the official LPG pricing mechanism and restore secure transportation routes through Balochistan, warning that delays could lead to fuel shortages and higher prices as winter demand begins to rise. In a statement issued by the LPG Industry Organising Committee, industry representatives said timely intervention by the Oil and Gas Regulatory Authority (OGRA) and the Petroleum Division is essential to ensure adequate LPG supplies ahead of the seasonal demand surge expected from mid-August. Khawaja Nouman Ahmed, a central leader of…

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