Category: Latest News

FAISALABAD/LAHORE: The Federal Investigation Agency (FIA) has launched a major investigation into an alleged Rs12 billion electricity fraud, registering a case against four former chief executive officers of the Faisalabad Electric Supply Company (FESCO), the chief executive and five directors of two local industrial companies for allegedly causing massive losses to the national exchequer through fraudulent power transactions. According to the FIA, two former FESCO chief executives—Khurshid Alam and Ahmad Saeed Khan—have been arrested, while one of the directors of the industrial companies was detained at Lahore Airport. A local…

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EAST RUTHERFORD, United States: Spain claimed their second FIFA World Cup title on Sunday after defeating defending champions Argentina 1-0 after extra time, with Ferran Torres scoring the decisive goal to end Lionel Messi’s dream of a fairytale farewell on football’s biggest stage. Torres struck in the 106th minute, firing home from close range after Nico Williams headed Pedro Porro’s cross into his path, capping a dominant Spanish performance at MetLife Stadium before a crowd of 80,663, which included US President Donald Trump. The victory marked Spain’s second World Cup…

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SINGAPORE: Global oil prices surged on Monday, with Brent crude climbing above $90 per barrel for the first time in more than a month, as intensifying military exchanges between the United States and Iran raised concerns over disruptions to oil shipments through the strategic Strait of Hormuz. Brent crude futures rose $2.09, or 2.37%, to $90.19 per barrel by 0241 GMT, touching their highest level since June 11 after posting a 15.9% gain last week—the largest weekly increase since April. Meanwhile, US West Texas Intermediate (WTI) crude advanced $1.71, or…

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Karachi: Pakistan State Oil (PSO), in close coordination with law enforcement agencies (LEAs), successfully foiled a major oil theft attempt during a late-night operation on the Sihala–Attock Refinery Limited (ARL) pipeline, dismantling an organised fuel theft syndicate operating along Kahuta Road. According to a statement issued by PSO, the operation was launched after the company detected a sudden pressure drop in the pipeline at 11:45 pm on July 15, 2026. Acting on prior intelligence and continuous surveillance of a suspected location, PSO immediately alerted law enforcement authorities. A joint security…

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Islamabad, July 18, 2026: Federal Minister for Petroleum Ali Pervaiz Malik today chaired a high-level meeting with key stakeholders, including the Oil and Gas Regulatory Authority (OGRA), the Oil Companies Advisory Council (OCAC), the Oil Marketing Association of Pakistan (OMAP), Refineries, and Oil Marketing Companies (OMCs). Senior officials of Petroleum Division were also present. The meeting was convened to brief industry stakeholders on the new pricing mechanism transitioning from weekly to daily basis and obtain first-hand feedback on implementation challenges and any teething issues to ensure a smooth transition. The…

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