ISLAMABAD: Prime Minister Shehbaz Sharif directed officials to draw up a strategy for shipping Pakistan’s surplus food stocks to Gulf countries, taking advantage of supply disruptions caused by the widening Middle East war while protecting domestic food security.
Economy
Pakistan orders 5 percent–30 percent pay cuts at state firms to fund public relief amid oil shock
ISLAMABAD: Pakistan will slash pay for employees of state-owned enterprises and government-backed autonomous institutions by 5% to 30%, directing every rupee saved into public relief programs as the country grapples with soaring fuel costs from the US-Israel war on Iran.
Pakistan fuel stocks hold steady as Iran conflict disrupts Hormuz shipping
ISLAMABAD: Pakistan’s petroleum product inventories remain at comfortable levels with supply chains operating without disruption, ensuring adequate availability in the coming weeks even as escalating conflict in Iran drives volatility in global crude and refined product markets, the Finance Ministry said.
Pakistan pauses fuel price hike even as Iran war drives oil near $100
ISLAMABAD: Prime Minister Shehbaz Sharif opted against raising petroleum product prices on Friday, choosing to shield consumers from the latest surge in global oil costs triggered by the widening Middle East war.
US probes 60 economies, including Pakistan, over failure to enforce forced-labor import bans
ISLAMABAD: The United States Trade Representative opened investigations into whether 60 foreign governments, including Pakistan, have neglected to ban imports of goods produced with forced labor, a step that could lead to fresh tariffs as the Trump administration seeks to reshape US trade enforcement.
Pakistan’s domestic power boom shields economy from LNG supply shocks
ISLAMABAD: Pakistan has cut its vulnerability to global liquefied natural gas disruptions by steadily shifting electricity generation toward indigenous sources, including a surge in rooftop solar, nuclear reactors, local coal and hydropower, Power Minister Awais Leghari said.
Pakistan to launch 5G pilots next week after $510 million spectrum auction
ISLAMABAD: Pakistan will begin pilot projects for 5G mobile services in major cities next week, Information Technology and Telecommunication Minister Shaza Fatima Khawaja said Thursday, signaling the start of the country’s long-awaited transition to next-generation wireless networks.
Pakistan raises RLNG prices as much as 22 percent for March after terminal costs jump on just two cargoes
ISLAMABAD The Oil and Gas Regulatory Authority notified a 19-22% increase in regasified liquefied natural gas prices at the distribution stage for the two Sui companies in March, the biggest monthly jump since October, just days after the government raised petroleum product prices by Rs55.
Pakistan bans petroleum exports, weighs freezing fuel prices as global costs climb and supplies tighten
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.
SBP grants temporary CIF relief for oil imports as war-risk costs spike
ISLAMABAD: The central bank has temporarily permitted imports of crude oil and petroleum products on a cost-insurance-and-freight basis, a move aimed at sidestepping soaring war-risk premiums and freight costs that have paralysed conventional shipping arrangements amid tensions in the Middle East.