KARACHI: Pakistan’s benchmark KSE-100 Index suffered its second-largest single-day drop on record on Monday, plunging 11,015.96 points, or 6.99%, as a surge in global oil prices fueled by the intensifying US-Israeli conflict with Iran hammered investor sentiment and amplified worries over the country’s fragile, import-dependent economy.
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Pakistan fuel stocks adequate despite Hormuz disruptions – ministry
ISLAMABAD: Pakistan’s petroleum-product inventories remain at comfortable levels and supply chains are operating without interruption, the Finance Ministry said Monday, even as the escalating conflict between the US, Israel and Iran has blocked the Strait of Hormuz and sent global oil prices to their highest since mid-2022.
Pakistan to hold 5G spectrum auction on Tuesday, targeting launch in five cities
ISLAMABAD: Pakistan will auction 5G spectrum on Tuesday as the government moves to address chronic connectivity bottlenecks and roll out next-generation mobile services in the country’s five largest cities, officials said on Monday.
Pakistan’s record fuel price hike hands windfall profits to oil companies, ex-finance minister says
KARACHI: Former Finance Minister Miftah Ismail has criticized the PML-N-led government’s sharp increase in petrol and diesel prices, arguing it has primarily benefited oil companies with windfall profits.
Pakistan says 583 Afghan Taliban killed in cross-border operation
ISLAMABAD: Pakistan said on Sunday its military has killed 583 Afghan Taliban fighters and wounded more than 795 others since launching a cross-border operation against the group, as clashes with Afghanistan entered a second week along the two countries’ rugged frontier.
Security forces kill 13 militants in five operations across northwest province
ISLAMABAD: Security forces killed 13 militants in a series of intelligence-driven raids across Khyber Pakhtunkhwa province over two days, the military said on Sunday, part of an escalating counterterrorism campaign as violence in the region surges and border tensions with Afghanistan intensify.
Pakistan lines up three fuel cargoes, seeks IMF relief as Middle East conflict pushes oil import bill
KARACHI: Pakistan is racing to secure three petroleum cargoes due by Monday while scrambling for alternative supplies from Gulf allies and preparing to ask the International Monetary Fund for relief on the petroleum levy, as the escalating Israel-Iran conflict drives crude prices higher and threatens the country’s energy imports through the Strait of Hormuz.
Pakistani fisherman slain by fallout of Israeli projectile in Iranian waters; another dies in Dubai amid escalating conflict
ISLAMABAD: A Pakistani fisherman was killed on Saturday when debris from an Israeli projectile, intercepted by Iranian air defences, struck his boat in Iranian waters, officials said on Sunday, the latest sign that the United States-Israel war on Iran is claiming civilian lives far beyond the battlefield.
Pakistan to roll out austerity plan as Sharif battles fuel crisis from US-Israel attack on Iran
ISLAMABAD: Prime Minister Shehbaz Sharif will announce an austerity plan on Monday as the country confronts a global fuel crisis triggered by the US-Israel-Iran war, the Prime Minister’s Office said.
Jailed PTI leaders warn political rifts and external shocks threaten sovereignty and economy
LAHORE: Five senior leaders of opposition Pakistan Tehreek-e-Insaf, currently held in Lahore’s Kot Lakhpat jail, warned on Saturday that “internal divisions and external pressures” are threatening the country’s sovereignty, economy and democratic future, and appealed to all political actors to put aside personal ambitions and institutional rivalries for the sake of national survival.