ISLAMABAD: Pakistan has booked a liquefied natural gas cargo from France’s TotalEnergies SE at $18.40 per million British thermal units, a purchase intended to plug a looming supply shortfall for roughly a month, a petroleum ministry official said Monday.
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Pakistan denies striking Afghan university, calls reports ‘blatant lies’ to mask Taliban support for TTP militants
ISLAMABAD: The Information Ministry on Monday rejected as fabrications Afghan media reports claiming that Pakistani forces had carried out airstrikes on a university and residential areas in Afghanistan’s eastern Kunar province.
Pakistan fuel suppliers seek prolonged CIF waiver to safeguard supply chains as Gulf shipping crisis lingers
ISLAMABAD: Pakistan’s oil refiners and marketers have asked the State Bank of Pakistan to extend by two months, or until market conditions stabilize, a temporary permission to import petroleum products on a cost-insurance-and-freight (CIF) basis, under which buyers shoulder the full responsibility for import costs and final delivery once cargoes reach the destination port.
Pakistan’s virtual assets regulator requires prior approval for all crypto deals, pilots
ISLAMABAD: Pakistan’s virtual assets regulator warned financial institutions on Monday that any agreement, memorandum of understanding or pilot program involving virtual assets — including stablecoins used for remittances and cross-border payments — requires its explicit prior authorisation.
Pakistan braces for southern heatwave as El Nino outlook sharpens
ISLAMABAD The meteorological authorities warned on Monday of mild heatwave conditions expected to grip the southern regions of the country later this week, even as a separate weather system promises temporary relief to the north and officials flagged the growing likelihood of a return of the El Niño climate pattern.
Constitutional Court temporarily restores govt power to inactivate passports and ban deportees from traveling
ISLAMABAD: Pakistan’s Federal Constitutional Court on Monday suspended a Lahore High Court ruling that had struck down key provisions of the Passport Rules 2021, temporarily reinstating the federal government’s authority to deactivate citizens’ passports and impose multiyear travel bans on people deported from abroad or suspected of involvement in human trafficking.
ECC signals easing inflation pressures, approves Rs5.985 billion to clear PIA dues
ISLAMABAD: The Economic Coordination Committee of the cabinet said on Monday that price increases for essential commodities have slowed after a temporary acceleration, as the government’s top economic panel also approved fresh funding to help clear remaining liabilities at the national airline days before its full handover to private owners.
Araghchi blames US “excessive demands” for stalled peace talks, consults allies in Pakistan, Oman and Russia
ISLAMABAD: Iranian Foreign Minister Abbas Araghchi arrived in Russia on Monday after a frantic three-day shuttle through Pakistan and Oman, telling his Russian hosts that Tehran was prepared to resume indirect negotiations with the United States — but only on terms that protect Iran’s core interests in the Persian Gulf and its nuclear program.
PM Sharif approves fans for all PSL playoff matches under austerity conditions
ISLAMABAD: Interior Minister and Pakistan Cricket Board chairman Mohsin Naqvi said on Monday that Prime Minister Shehbaz Sharif has given the green light for fans to attend all three remaining Pakistan Super League playoff matches.
SBP raises rates 100 basis points in first hike in nearly three years as Middle East conflict fuels inflation risks
KARACHI: Pakistan’s central bank lifted its key policy rate by 100 basis points to 11.5% on Monday, delivering its first increase in almost three years as the prolonged Middle East conflict drives up global energy prices and threatens to push inflation higher in the import-dependent economy.