How PM’s foresight, compassion, and swift decision-making kept Pakistan’s fuel supply lines intact while the world s A worker fills a car’s tank at a fuel station amid concerns about rising fuel prices linked to the US-Israel conflict with Iran. Photo: Reuters (file) LONDON: When the flames of war erupted across the Middle East and…
Oil price spikes on Trump’s “hell for Iran” threat, Strait of Hormuz tensions deepen selling pressure KARACHI: War-driven uncertainty kept the Pakistan Stock Exchange (PSX) under sustained pressure during Monday’s morning session, as trading opened in a tense environment. By 11:34am, the index had fallen to 148,027.32, down 2,371.39 points (1.58%) from the previous close…
Solar panel. Photo: ANADOLU AGENCY ISLAMABAD: Solar power generation has proven to be socially acceptable, economically viable and environmentally friendly. It is therefore highly sustainable for a country like Pakistan where the power supply gap is always increasing. Solar can reduce our heavy reliance on expensive imported fossil fuels. It can also mitigate high electricity…
Surge in port traffic offers economic upside if reforms in logistics and governance are fast-tracked Tariff reforms need to be focused less on delivering immediate results and rather addressing structural constraints in Pakistan’s economy by reducing taxation costs and improving productivity and competitiveness. Photo: file KARACHI: The illegitimate US-Israeli war against Iran has posed numerous…
Prolonged Gulf conflict can reduce annual inflows, pose threat to external account To cover losses, successive governments have increased electricity prices and imposed a Rs3.23 per unit surcharge to service debts taken for power distribution companies, pushing energy prices to the highest levels in the region. Photo: file KARACHI: As Pakistan grapples with the fear…
Says the government is working to make electricity tariffs competitive to support key economic sectors ISLAMABAD: Federal Minister for Power Awais Ahmed Khan Leghari, on Thursday, attributed the steady increase in electricity consumption to the success of the government’s energy policies and reform measures, said a press release. He made the remarks during a meeting…
At current prices, the looted gold is worth around $70 million. PHOTO: PIXABAY Gold and silver prices on Friday increased in both local and international markets. The price of gold rose by Rs3,400 per tola, reaching Rs490,362. The rate for 10 grams of gold also increased by Rs2,915 to Rs420,406. In the international market, gold…
KARACHI: Stocks came under renewed selling pressure at the Pakistan Stock Exchange (PSX) on Friday as investor sentiment remained fragile following the government’s decision to withdraw fuel subsidies and sharply increase petroleum prices. The benchmark KSE-100 index experienced a volatile session, losing over 1,600 points. It initially plunged deeply before recouping some of the losses,…
Chamber says global prices have doubled; calls for carpooling, limiting non-essential travel KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) has called on citizens to adopt responsible fuel consumption habits as petroleum prices continue to rise in line with global market trends. Sharing his views with The Express Tribune, KCCI President Rehan Hanif emphasised…
Industry says rules are impractical, may deepen liquidity crisis and delay reimbursement ISLAMABAD: Oil marketing companies (OMCs) have raised serious concerns over new verification requirements imposed by the Oil and Gas Regulatory Authority (Ogra) for the release of price differential claims (PDC), warning the move could delay reimbursements and deepen liquidity crisis. In a recent…