ISLAMABAD: The government has decided in principle to begin revising petroleum prices on a weekly basis from 8 March and to activate sweeping fuel conservation measures, including widespread work-from-home arrangements and distance learning, as the war in the Middle East raises the prospect of serious oil supply disruptions.
Economy
SBP poised to stand pat on rates at 10.5 percent as Middle East tensions, oil shock cloud outlook
KARACHI: The State Bank of Pakistan is poised to keep its key policy rate unchanged at 10.5% when it concludes its second monetary-policy review of 2026 on Monday, a Reuters poll of analysts showed, with rising global energy costs and fresh risks from the Middle East constraining any further cuts.
Pakistan debunks viral fake notice on port suspensions as Iran conflict shuts Hormuz oil route
ISLAMABAD: Pakistan on Thursday dismissed as fabricated a notice circulating on social media that claimed authorities had ordered the temporary suspension of all port entries nationwide until March 10, a move that would have compounded supply-chain risks already heightened by the shutdown of the Strait of Hormuz.
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 wins IAEA safeguards nod for 1,200 MW Chashma reactor as nuclear share hits 18 percent
ISLAMABAD: The International Atomic Energy Agency’s board of governors has given unanimous approval to a safeguards agreement covering the fifth unit at Pakistan’s Chashma nuclear power plant, the country’s foreign ministry announced on Wednesday.
No immediate shortage, but Pakistan prepares weekly fuel prices and industry cuts amid Persian Gulf crisis
ISLAMABAD: The finance minister warned on Wednesday of mounting risks to the country’s oil supplies from the conflict involving the US, Israel and Iran, even as he insisted there was no emergency and ruled out immediate rationing.
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.
Privatisation board backs Fauji Fertiliser’s entry into winning PIA consortium
ISLAMABAD: The Privatisation Commission has recommended the formal inclusion of Fauji Fertiliser Company in the Arif Habib-led consortium that secured the auction for Pakistan International Airlines, moving the group closer to outright ownership of the national flag carrier.
Pakistan trade deficit jumps 25 percent to $25.04bln on surging imports
ISLAMABAD: Pakistan’s trade deficit swelled by a quarter to $25.04 billion in the first eight months of the current fiscal year, official figures showed on Tuesday, underscoring the persistent strain on the country’s external accounts.
Pakistan keeps airspace open; issues routine Notam for select routes
KARACHI: Pakistan has said its airspace remains fully open and unrestricted for all commercial traffic, despite issuing a routine notice that temporarily closes selected air routes in two regions for the rest of the month.