Category: Latest News

Petroleum Sales Jump 10% in May Amid Economic Recovery, Diesel Demand Surge

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Petrol-Diesel

KARACHI – Pakistan’s petroleum product sales climbed 10% year-on-year (YoY) in May 2025 to 1.53 million tonnes, fueled by increased demand for high-speed diesel (HSD), lower fuel prices, and signs of economic rebound. Month-on-month (MoM), sales rose 5% from April, driven by seasonal diesel use during the wheat harvest and a reduction in fuel smuggling. Excluding furnace oil (FO), May sales reached 1.45 million tonnes, up 10% YoY and 6% MoM. For July-May FY25, total sales rose 7% YoY to 14.76 million tonnes, while ex-FO sales climbed 9% YoY to…

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Punjab CM Announces Up to 40% Power Tariff Relief, Launches Major Public Welfare Initiatives

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Maryam-Nawaz

LAHORE – In a landmark move to ease the burden of electricity costs, Punjab Chief Minister Maryam Nawaz Sharif announced a reduction of up to 40% in power tariffs for consumers of Quaid-e-Azam Thermal Power Pvt Ltd and Punjab Thermal Power Pvt Ltd. Chairing the provincial cabinet meeting on Tuesday, CM Maryam said the relief aims to significantly lower electricity bills and offer maximum respite to the people. Punjab becomes the first province to voluntarily reduce power tariffs. The cabinet meeting also celebrated the PML-N’s by-election victory in Sambrial, attributing…

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Senate Committee Calls for Urgent Infrastructure Development to Support EV Adoption

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electrical-vehicles

ISLAMABAD – The Senate Standing Committee on Industries and Production has called on the federal government to swiftly develop the necessary infrastructure to support the transition to electric vehicles (EVs), citing growing concerns over climate change and the continued reliance on fossil fuels. Chaired by Senator Aon Abbas, the committee highlighted the lack of EV charging stations across Pakistan, even in major urban centers like Lahore, with the situation far worse in remote regions. Members stressed that without immediate action, environmental degradation will accelerate due to increasing vehicle emissions. Officials…

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Govt Forms Committee to Digitise Fuel Payments and Curb Cash-Based Economy

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Cash-Based

ISLAMABAD – In a major step toward financial digitisation, the federal government has formed a seven-member committee to develop a comprehensive mechanism for digitising fuel payments at petrol stations nationwide. The initiative is set to be a key feature in the upcoming federal budget, as part of the government’s broader plan to combat the country’s high reliance on cash. The committee, constituted on the directives of Finance Minister Muhammad Aurangzeb, will be led by Sharjeel Murtaza, Chief Digital Officer at Karandaaz Pakistan. Other members include digital reforms consultant Ali Jan…

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US natgas prices jump on lower output, higher demand

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Gas

NEW YORK: US natural gas futures jumped about 8% to a three-week high on Monday on a drop in output forecasts for warmer weather and higher demand this week than previously expected. Analysts said gas prices also gained some support from a 5% increase in US oil futures after OPEC+ kept its output increase unchanged. Gas futures for July delivery on the New York Mercantile Exchange rose 27.3 cents, or 7.9%, to $3.72 per million British thermal units, putting the contract on track for its highest close since May 9.…

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