ISLAMABAD: Pakistan’s proposed $3.5 billion Falcon Isles Refinery and Storage Complex has cleared a key institutional hurdle, bringing the major energy project closer to consideration under the country’s industrial cooperation framework. The China-Pakistan Economic Corridor (CPEC) Secretariat has endorsed the proposed refinery project, which is planned for Dhabeji in Thatta district, Sindh. Following the endorsement,…
ISLAMABAD: Prime Minister Shehbaz Sharif has expressed Pakistan’s desire to transform its longstanding relationship with Saudi Arabia into a mutually beneficial strategic economic partnership, aligned with the vision of Saudi Crown Prince and Prime Minister Mohammed bin Salman. The prime minister made the remarks during a meeting with a high-level Saudi business delegation headed by…
ISLAMABAD: Official documents presented before Parliament have revealed that 33 retired senior government officials are currently living abroad while receiving pensions from the government of Pakistan. According to documents submitted by the Ministry of Foreign Affairs, the retired officials moved to different foreign countries after completing their government service and continue to receive pension payments…
ISLAMABAD: The federal government has increased the prices of petrol and high-speed diesel once again, adding further pressure on consumers, transporters and businesses across Pakistan. The Oil and Gas Regulatory Authority (OGRA) has issued a notification announcing the latest adjustment in petroleum prices. The revised rates will take effect from August 25. According to the…
KARACHI: The Pakistan Stock Exchange (PSX) opened on a strong note on Tuesday, with the benchmark KSE-100 Index gaining more than 600 points as investors returned to buying across major sectors. By 9:35am, the KSE-100 Index had climbed 643.38 points, or 0.36%, to 177,610.06. Buying interest was seen across several major sectors, including automobiles, cement,…
ISLAMABAD: Consumers across Pakistan are facing a significant financial burden as taxes, levies and various margins account for a substantial portion of petrol and high-speed diesel prices. According to the latest price breakdown, motorists are paying Rs130.75 in taxes, levies and margins on every litre of petrol. The additional charges on high-speed diesel amount to…
LAHORE: The federal Ministry of Industries and Production has reportedly allowed the export of sugar that was imported at a higher cost, raising concerns over potential losses to the national exchequer and the impact on Pakistan’s sugar industry. According to sources within the ministry, the government has not yet approved the export of around 250,000…
Federal Minister for Information and Broadcasting Attaullah Tarar has rejected former finance minister Miftah Ismail’s criticism of Pakistan’s sugar policy, saying the government’s decisions were based on prevailing market conditions and the need to protect consumers and sugarcane growers. Tarar said sugar exports in 2024 were allowed because Pakistan had sufficient surplus stocks and were…
ISLAMABAD: Petrol and high-speed diesel prices have increased in Pakistan following the implementation of higher dealers’ margins, adding to the cost burden for consumers and businesses. According to a document issued by the Oil and Gas Regulatory Authority (OGRA), dealers’ margins on both petrol and high-speed diesel have been increased by Rs1.34 per litre. The…
ISLAMABAD: Pakistani freelancers recorded strong growth at the beginning of the new financial year as their export earnings increased by 45% in July 2026, according to official data. Freelancers earned $176 million in foreign exchange during July, compared with $121 million in the same month last year. The figures represent an increase of $55 million…
