ISLAMABAD: The petroleum minister has called an emergency meeting on Tuesday following an oil industry protest over a unilateral change in the pricing formula that led to Rs104 billion in losses. The Oil Companies Advisory Council (OCAC) approached the minister to hold an urgent meeting over the formula, which resulted in a substantial financial hit…
HOUSTON: Oil prices fell nearly 4% on Monday, as supply concerns eased after US Vice President JD Vance said progress has been made in talks with Iran and the Strait of Hormuz was open. Brent crude was down $3.11 or 3.86%, at $77.46 a barrel by 1757 GMT. In early trading, prices had climbed to…
KARACHI: Pakistan’s agriculture is facing a crisis that is neither sudden nor mysterious. It is the predictable result of a long-standing mismatch between what the country grows and what its climate, soils and water resources can realistically support. For decades, Pakistan’s crop choices were shaped by a world of abundant canal flows, stable weather and…
Benchmark KSE-100 Index gains 464.19 points amid improving geopolitical sentiment KARACHI: The Pakistan Stock Exchange (PSX) opened the week on a positive note on Monday, mirroring a rally across Asian markets as improving geopolitical sentiment and softer oil prices boosted investor confidence. The benchmark KSE-100 Index was trading at 179,386.94 points at 12:34pm, higher by…
ISLAMABAD: A great power rests on three pillars: military, diplomacy and economy. Pakistan has achieved many milestones on the military and diplomatic fronts. Two recent events further reinforced our strength. First, the decisive victory in Operation Bunyan Marsoos strengthened Pakistan’s credentials as a formidable military power. It elevated Pakistan’s global profile. Countries began to show…
Conditionality has failed the Global South, it may be time to reclaim sovereignty, embrace growth BRUSSELS: The International Monetary Fund (IMF), being the lender of last resort for countries in balance-of-payments crisis or in danger of default, almost always ties its bailouts to excessive austerity measures. Its loans are tied, to use IMF jargon, to…
KARACHI: The current fiscal year has been marked by significant strain on the external account, driven in large part by the US-Iran conflict and its spillovers into capital flows and sovereign spreads. With peace now expected to return to the region, policymakers’ attention should turn to the domestic constraints that continue to hold exports back….
Activation of China route as energy corridor can prove to be windfall for Pakistan, complemented by 923-hectare free t ISLAMABAD: The idea of developing a modern port at Gwadar goes back to 1954, when a survey by the United States Geological Survey (USGS) convinced Pakistan of its strategic importance. However, it took us 54 years…
KARACHI: The auto sector in Pakistan is quickly returning to its previous upward trend as financing surged to an all-time high of Rs369 billion in May 2026, surpassing the previous record of Rs368 billion reached in June 2022, as lower borrowing costs, aggressive promotional offers by assemblers and banks, and pent-up consumer demand continued to…
ISLAMABAD: The domestic ceramic tiles and glass industries have cautioned the government that massive reductions in import duties under the second phase of tariff rationalisation policy in the budget (2026-27) would result in total closure of local manufacturers. It has come to the notice of domestic producers that regulatory duty (RD) would be reduced by…