Category: Popular News

Oil Industry Ensures Jet Fuel Supply, Emergency Preparedness Amid Pakistan-India Tensions: OCAC

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KARACHI: Amid heightened tensions between Pakistan and India, the country’s oil sector activated emergency response protocols to ensure uninterrupted supplies of JP8 jet fuel and maintain national energy security, the Oil Companies Advisory Council (OCAC) revealed in a communication to authorities. In a letter to the Director General (Oil), Petroleum Division, and the Chairperson of the Oil and Gas Regulatory Authority (Ogra), OCAC outlined the proactive measures undertaken by the industry to safeguard critical petroleum supplies and infrastructure during the sensitive period. OCAC highlighted that, in light of the prevailing…

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Pakistan-India Talks Likely in Saudi Arabia with US, Saudi Mediation

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ISLAMABAD: Diplomatic sources have revealed that Pakistan and India are expected to engage in high-level talks in Saudi Arabia, with mediation by the United States and Saudi Arabia. The discussions are likely to focus on the long-standing Kashmir dispute and the Indus Waters Treaty (IWT) — two of the most contentious issues between the nuclear-armed neighbors. This initiative comes amid renewed efforts led by US President Donald Trump and Secretary of State Marco Rubio, who recently facilitated a preliminary agreement to resume dialogue following heightened tensions between the two countries.…

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ECC Approves Shifting Rs4.12/Litre Relief in Fuel Prices to Oil Sector Stakeholders

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ISLAMABAD: The Economic Coordination Committee (ECC) has approved a plan to redirect the relief of Rs4.12 per litre in petrol and high-speed diesel (HSD) prices to oil refineries, oil marketing companies (OMCs), and fuel dealers, starting from May 16, 2025, for a period of one year. In a meeting held on May 13, 2025, the ECC decided that this adjustment—meant to support stakeholders amid financial challenges—will be implemented through increases in the Internal Freight Equalisation Margin (IFEM), OMCs’ margin, and dealers’ commission. As a result, consumers will bear an additional…

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Government Proposes Dual Pricing Model for Petroleum Products to Encourage Digital Payments

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Islamabad, May 14, 2025 — In a bid to promote digital transactions and curb fuel smuggling, the government is considering a dual pricing model for petroleum products across the country. Under the proposed scheme, consumers would be offered a PKR 5 per liter discount when purchasing petrol or diesel through digital payment methods. As per initial details, the model would set two price tiers for POL (Petroleum, Oil, and Lubricants) products: The price differential will be achieved by reducing the Petroleum Levy (PL) on digital transactions, allowing the government to…

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Pakistan, Russia Agree to Set Up New Steel Mill in Karachi to Bolster Bilateral Ties

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ISLAMABAD: Pakistan and Russia have agreed to collaborate on establishing a new steel mill in Karachi, marking a significant step forward in strengthening bilateral industrial cooperation. The decision was reached during a follow-up meeting between Special Assistant to the Prime Minister on Industries and Production, Haroon Akhtar Khan, and a Russian delegation led by Denis Nazaroof. The Russian side reaffirmed its commitment to support Pakistan’s steel sector and invited Pakistani representatives to an upcoming industry exhibition in Moscow. This follows earlier discussions in September 2024 between Russia’s Deputy Minister for…

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