ISLAMABAD: The government has imposed an outright ban on exports of all petroleum products and is actively considering holding domestic fuel prices steady despite relentless gains in international markets, tapping emergency budget allocations of about 389 billion rupees to absorb as much of the coming shock as possible.
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IMF makes ‘considerable progress’ with Pakistan on loan reviews as Middle East tensions extend talks
ISLAMABAD: The International Monetary Fund said it has made considerable progress in talks with Pakistani authorities on the third review of the country’s Extended Fund Facility and the second review of its Resilience and Sustainability Facility, even as discussions continue to gauge the economic fallout from the Middle East conflict.
PNSC tankers load at Yanbu and Fujairah as Pakistan bypasses closed strait of Hormuz
KARACHI: Pakistan has started importing crude oil via the Red Sea route after the closure of the Strait of Hormuz halted traditional shipments amid the Middle East conflict, Geo television reported, quoting shipping sources.
Pakistan raises $507 million in spectrum auction, sets stage for 5G rollout
ISLAMABAD: Pakistan sold 480 megahertz of spectrum for $507 million in a live auction Tuesday, clearing the way for the country’s long-delayed shift to 5G networks and promising faster, cheaper mobile data in one of the world’s largest telecom markets by population.
SBP holds policy rate at 10.5 percent as Middle East war triggers fuel shock, inflation risks
KARACHI: The State Bank of Pakistan kept its benchmark policy rate unchanged at 10.5% on Monday, its second Monetary Policy Committee meeting of 2026, as the outbreak of war in the Middle East sent global energy prices surging and clouded the inflation outlook for the import-dependent economy.
Pakistan lines up three fuel cargoes, seeks IMF relief as Middle East conflict pushes oil import bill
KARACHI: Pakistan is racing to secure three petroleum cargoes due by Monday while scrambling for alternative supplies from Gulf allies and preparing to ask the International Monetary Fund for relief on the petroleum levy, as the escalating Israel-Iran conflict drives crude prices higher and threatens the country’s energy imports through the Strait of Hormuz.
PM Sharif directs provincial fuel conservation push after record Rs55 price hike
ISLAMABAD: Prime Minister Shehbaz Sharif directed the finance and petroleum ministers to coordinate with provincial governments on strategies to conserve petroleum products and guarantee uninterrupted supplies, a day after the country imposed its biggest-ever one-week fuel price increase.
Sharif tells provinces to act against hoarders and launches real-time fuel monitoring as Hormuz remains blocked by Iran war
ISLAMABAD: Prime Minister Shehbaz Sharif has ordered provincial governments to take immediate legal action against anyone hoarding petroleum products and to shut down any petrol pumps found deliberately creating artificial shortages, as anxiety grows over potential supply disruptions from the escalating the United States-Israel war against Iran.
Pakistan moves to police petrol stations to deter hoarding as Middle East war threatens supply
ISLAMABAD: Authorities have instructed provincial governments to conduct physical inspections of retail petrol stations nationwide to stamp out hoarding of petroleum products and prevent profiteering, as fears grow over potential supply disruptions from the escalating conflict in the Middle East.
Pakistan asks Saudi Arabia for oil via Red Sea route after Hormuz closure
ISLAMABAD: Pakistan formally asked Saudi Arabia to shift oil supplies to the Red Sea port of Yanbu, hunting for a secure workaround after the closure of the Strait of Hormuz left its main import route blocked.