ISLAMABAD: The Oil and Gas Regulatory Authority raised the price of liquefied petroleum gas by 35 percent for April, passing on the full brunt of higher global costs to households and businesses as the Saudi Aramco contract price surged 44 percent.
Energy
Provinces agree to share oil subsidy burden as government shelves lockdown plans
ISLAMABAD: Pakistan’s four provinces have reached an agreement to help finance the federal government’s oil subsidies for consumers, easing pressure on the national budget at a time of acute fuel-supply strains from the Middle East conflict, officials said.
Pakistan’s top leaders hold talks on security and economic strain amid regional tensions
ISLAMABAD: Prime Minister Shehbaz Sharif met President Asif Ali Zardari on Monday to review the country’s national security situation and the array of economic and energy challenges confronting Pakistan, the President’s Secretariat said.
Kuwait assures Pakistan of full diesel and jet fuel deliveries
ISLAMABAD: Kuwait has pledged to provide full logistical support for diesel and jet fuel shipments to Pakistan, ending a supply impasse caused by the closure of the Strait of Hormuz during the ongoing US-Israeli war on Iran.
Subsidised fuel for rickshaws, bikes in pipeline
ISLAMABAD: Prime Minister Shehbaz said the government is moving to protect lower- and middle-income Pakistanis from the impact of higher fuel prices triggered by the global energy shock following the war involving Iran.
Pakistan caps fuel costs with Rs125 billion package
ISLAMABAD The government on Sunday diverted 125 billion rupees from savings and development budgets to block any increase in oil prices, protecting consumers from the immediate fallout of the regional war that has driven global crude to two-year highs.
Pakistan debunks weekend lockdown claim as fuel crisis deepens
ISLAMABAD: The information ministry on Sunday branded as fake a widely circulated notification that claimed the government had ordered a complete weekend lockdown to conserve fuel, urging citizens to stop sharing unverified social media posts that could sow confusion during an acute energy crisis.
Iran opens Hormuz to more Pakistani ships in gesture Islamabad calls a ‘harbinger of peace’
ISLAMABAD: Iran has agreed to allow 20 additional ships flying the Pakistani flag to pass through the Strait of Hormuz, with two vessels crossing daily, Pakistan’s deputy prime minister said late Saturday in a move that officials here described as a significant confidence-building gesture amid a month-long war that has crippled global energy supplies.
Pakistan to convene national leadership summit on fuel crisis as provinces reject subsidy burden
ISLAMABAD: Pakistan is organising a high-level national dialogue early next week to hammer out an “all-inclusive” strategy on austerity and energy conservation, after the country’s four provinces signalled they are unwilling to shoulder a collective Rs200 billion share of the fuel-subsidy bill amid surging international oil prices.
PM Sharif rejects fresh fuel-price hike, absorbs Rs56bln cost to shield consumers from Middle East oil shock
ISLAMABAD: Prime Minister Shehbaz Sharif rejected yet another proposal to raise petrol and high-speed diesel prices, choosing instead to have the government absorb an additional Rs56 billion in costs as global oil prices remain elevated by the conflict in the Middle East.