ISLAMABAD: Pakistan raised gasoline and diesel prices for a second consecutive day, as the country’s new daily fuel-pricing mechanism continued to pass through the effects of Middle East volatility to motorists and transporters.
Economy
Pakistan sees US trade doubling to $20 billion in five years
ISLAMABAD: Pakistan’s government is betting it can double trade with the United States to $20 billion within five years, Deputy Prime Minister and Foreign Minister Ishaq Dar said, as Islamabad steps up efforts to attract American capital following last year’s International Monetary Fund bailout.
PM Sharif orders faster civil service cuts to trim deficit
ISLAMABAD: Prime Minister Shehbaz Sharif ordered officials to speed up the elimination of redundant government posts, pressing ahead with a downsizing drive that has already shuttered three state bodies as Pakistan seeks to narrow its fiscal deficit and unlock the next tranche of International Monetary Fund support.
Pakistan approves $6 billion refinery overhaul after six-year delay
ISLAMABAD: Pakistan approved a long-delayed overhaul of its oil refining industry, clearing the way for roughly $6 billion in investment to modernize aging plants and reduce the South Asian nation’s dependence on imported fuel.
Blood money value nearly doubles to Rs19.35mln as silver prices surge
ISLAMABAD: The federal government has fixed the value of diyat, or blood money, at Rs19,352,390 for the financial year 2026-27, a rise of nearly 97 per cent driven by a sharp climb in silver prices.
Pakistan trims petrol price, diesel jumps under new daily-picing regime
ISLAMABAD: Pakistan lowered the retail price of petrol and raised the cost of diesel on Monday, an adjustment under a new daily pricing mechanism the government adopted to keep pace with swings in global crude markets triggered by renewed fighting between the United States and Iran in the Persian Gulf.
Pakistan signals fuel price cuts after tankers clear red sea chokepoint
ISLAMABAD: Pakistan’s petroleum minister signaled that pump prices for gasoline and diesel are poised to decline after cargo vessels carrying the country’s oil supplies safely navigated the Bab-al-Mandeb Strait, a Red Sea chokepoint that has been targeted repeatedly by Houthi militants.
Pakistan holds interest rates as Middle East tensions cloud outlook
KARACHI: Pakistan’s central bank left its benchmark interest rate unchanged for a third consecutive policy meeting, judging that the risk of a fresh Middle East oil shock outweighed pressure at home to ease monetary policy and revive economic growth.
Pakistan rate hold near-certain as war-driven oil surge derails easing bets
KARACHI: Pakistan’s central bank is all but certain to leave its benchmark interest rate unchanged next week, as a resurgence in global oil prices tied to the widening conflict between the United States and Iran forces policymakers to shelve any near-term plans for further easing.
Pakistan holds fuel prices steady as weekend freezes Iran war-driven rally
ISLAMABAD: Pakistan left retail fuel prices unchanged through the weekend, a technical pause built into a new daily pricing mechanism the government adopted just weeks ago to keep pace with oil markets roiled by the conflict between Iran and the United States.