Category: Latest News

Pakistan’s Oil Tanker ‘Karachi’ Safely Navigates Strait of Hormuz Amid Rising Tensions

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Pakistan’s oil tanker navigates Strait of Hormuz amid Iran tensions, to reach Karachi on March 17 A Pakistani oil tanker, ‘Karachi’, has crossed the Strait of Hormuz, a critical waterway for global energy supplies, amid escalating tensions between Iran and the US/Israel. The vessel, operated by Pakistan National Shipping Corporation, is expected to reach Karachi on March 17. According to Energy Update, the shipment was allowed to pass through the strait after payment was made in Chinese yuan, highlighting Pakistan’s diplomatic efforts. The tanker had loaded crude oil from Abu…

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Hormuz disruption could hit Pakistan’s exports, energy imports, FPCCI warns

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Pakistan’s exports

Business leaders say shipping surcharges, longer transit times and higher diesel prices threaten trade competitiveness and could strain forex reserves Pakistan’s business community has warned that escalating tensions in the Middle East and the disruption of shipping through the Strait of Hormuz could severely impact the country’s exports, energy imports and foreign exchange stability. In a statement issued on Monday, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram Sheikh said the crisis had already unsettled global shipping markets after the outbreak of the Iran conflict in…

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No LNG Availability in the Country After April 14: Petroleum Secretary

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China-LNG

Islamabad: The Petroleum Secretary has announced that LNG will not be available in the country after April 14, which will result in the power sector’s gas requirements not being fully met in April. The announcement came during a meeting of the Senate Standing Committee on Petroleum, chaired by Senator Manzoor Ahmed, which reviewed petroleum product prices and availability across the country. During the briefing, the Petroleum Secretary stated that supply of petroleum products has been affected due to tensions in the Middle East. Pakistan imports nearly 70% of its petroleum…

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Power Generation Merger Faces Bureaucratic Hurdles in Power Division Pakistan

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Power-Division1

ISLAMABAD: A planned restructuring of state-owned power generation companies has encountered resistance within the bureaucratic setup of the Power Division Pakistan and its subordinate entities, delaying efforts to merge several outdated power plants into the National Power Parks Management Company (NPPMC). Sources said the reform plan—endorsed by the National Task Force on Energy and Federal Power Minister Sardar Awais Ahmed Khan Leghari—aims to consolidate oil-based and redundant generation companies (Gencos 1 to 4) into NPPMC. The initiative is part of broader power sector reforms designed to reduce electricity tariffs and…

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Oil Price Shock Could Cut Pakistan GDP by Up to 1.5%, Experts Warn

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Oil prices

KARACHI: Prolonged high global oil prices triggered by the ongoing Middle East conflict could reduce the GDP of Pakistan by 1 to 1.5 percent if crude prices remain around $100 per barrel or higher, according to former finance minister Hafiz Pasha. Pasha warned that the most severe impact would be felt in Pakistan’s external sector, where the country could face a negative shock of $12–14 billion over the next year. The surge would be driven largely by petroleum imports, which may rise by 25–30 percent as global oil prices climb.…

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