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.
Economy
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.
Foreign assistance rises 13 percent to $5.17 billion in seven months on Saudi, ADB support
ISLAMABAD: Pakistan received $5.17 billion in foreign loans and grants from July 2025 through January 2026, a 12.77% increase from $4.58 billion in the same period a year earlier, data from the Economic Affairs Division showed.
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.
Finance minister pushes capital-market overhaul to ease bank reliance
ISLAMABAD: Finance Minister Muhammad Aurangzeb on Wednesday called for a gradual rebalancing of the country’s financial system, urging capital markets to take on a bigger role alongside banks in funding economic growth while pressing lenders to prepare for potential fallout from escalating Middle East tensions.
Pakistan remittances rise 5.2 percent to $3.29 billion in February
KARACHI: Remittance inflows to Pakistan rose 5.2% in February to $3.29 billion, State Bank of Pakistan data showed Tuesday, offering continued support to the nation’s external accounts and household spending.
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.
Pakistan bolsters fuel reserves with new imports cargoes amid war-driven supply crunch
KARACHI: Pakistan is replenishing its fuel supplies with the arrival of diesel and petrol cargoes as the country grapples with global shortages triggered by conflict disrupting shipments through the Strait of Hormuz.
Facing fuel crisis from US-Israel war on Iran, PM Sharif orders salary cuts, office closures and remote work across Pakistan
ISLAMABAD: Prime Minister Shehbaz Sharif announced a broad package of austerity measures on Monday to conserve fuel and reduce government spending as Pakistan grapples with the fallout from the US-Israel conflict with Iran, which has sent global oil prices surging past $100 per barrel and disrupted critical energy supplies to the region.