ISLAMABAD: The government provisionally awarded all 23 offshore exploration blocks that received bids in its first offshore licensing round since 2007, with state-backed Mari Energies Ltd. securing stakes in every block and operatorship in 18 of them, according to the Petroleum Division and company statements.
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Edible oil imports seen surging to 3.5 mln tons as demand climbs
KARACHI: Pakistan’s edible oil imports are on course to reach 3.4-3.5 million metric tonnes this year, a sharp increase from the 2.9-3 million tonnes imported annually between 2022 and 2024, as the country grapples with rising demand driven by population growth and modest economic recovery.
Diesel, kerosene prices to rise up to Rs9.50; petrol set for Rs2 cut
KARACHI: The government will increase ex-depot prices of high-speed diesel, kerosene and light diesel oil by as much as Rs9.50 a liter from November 16, while cutting the petrol price by around Rs2, according to people familiar with the preliminary calculations.
Pakistan arrests four TTP militants over Islamabad court suicide bombing
ISLAMABAD: Authorities said on Friday that security forces have arrested four members of the banned militant group Tehreek-e-Taliban Pakistan, including the commander of the cell responsible for this week’s suicide bombing at a judicial complex in the capital.
President Zardari names Justice Aminuddin Khan first chief of new Constitutional Court
ISLAMABAD: President Asif Ali Zardari on Thursday appointed Justice Aminuddin Khan as the first chief justice of Pakistan’s newly created Federal Constitutional Court, moving swiftly to implement a sweeping constitutional overhaul that has already prompted the resignation of two senior Supreme Court judges in protest.
Lotte Chemical sells 75 percent of Pakistan PTA unit for $69 million; P&G seeks Gillette delisting
KARACHI: Lotte Chemical Corp. has sold a roughly 75 percent stake in its Pakistani purified terephthalic acid (PTA) subsidiary to Dubai-based PTA Global Holding Ltd. for $68.94 million, the latest step in Seoul’s government-backed push to restructure loss-making petrochemical assets amid chronic oversupply and weak demand.
Pakistan deploys troops to guard Sri Lanka cricketers after capital bombing
ISLAMABAD: Pakistan has ringed the Sri Lankan cricket team with army and paramilitary troops and moved an entire Twenty20 tri-nation tournament to Rawalpindi after a suicide bombing in the capital on Tuesday killed 12 people and rattled a sport still haunted by the 2009 attack on the same visiting side.
Chief Justice summons emergency full-court meeting as constitutional crisis deepens
ISLAMABAD: The Chief Justice of Pakistan Yahya Afridi on Thursday summoned an emergency full-court meeting of all Supreme Court judges for Friday morning, bowing to a third judicial plea in as many days for the court to confront the far-reaching 27th Constitutional Amendment that President Asif Ali Zardari formally enacted into law only hours earlier.
Pakistan says suicide bomber in Islamabad attack came from Afghanistan
ISLAMABAD The interior minister told the Senate on Thursday that the suicide bomber who killed 12 people and wounded 35 in an attack on the capital’s judicial complex on Tuesday was “related to Afghanistan,” the clearest official accusation yet that the assault originated across the border.
Two top Supreme Court justices quit as new law strips court of constitutional powers
ISLAMABAD: Two of Pakistan’s most respected Supreme Court justices, Syed Mansoor Ali Shah and Athar Minallah, resigned on Thursday only hours after President Asif Ali Zardari signed into law the 27th Constitutional Amendment, a sweeping overhaul that shifts the power to interpret the Constitution from the Supreme Court to a new Federal Constitutional Court whose judges will be appointed through a process dominated by the government.