Category: Business
-
Gold Prices Rise in Pakistan as Global Rates Edge Higher
KARACHI: Gold prices in Pakistan increased on Thursday, with the price of 24-karat gold per tola rising by Rs400, according to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA). Following the increase, the price of one tola of gold reached Rs425,436 in the local market. The association also reported that the price of 10…
-
Oil Prices Rise for Fourth Consecutive Day Amid US-Iran Tensions
LONDON: Global oil prices climbed for a fourth consecutive trading day as concerns intensified over possible disruptions to energy shipments through the Strait of Hormuz following the latest U.S. military strikes in Iran. According to Reuters, benchmark crude prices continued their upward trend as investors reacted to heightened geopolitical tensions in the Gulf region, one…
-
Oil Companies Warn Pakistan Has Only 15 Days of Petrol Stocks, Urge Immediate Government Action
ISLAMABAD: Pakistan’s oil marketing companies have warned the government of a potential petrol shortage, saying the country has fuel reserves sufficient for only 15 days and calling for urgent intervention to prevent disruptions in supply. In a letter marked “Most Urgent” and addressed to Minister for Energy (Petroleum Division) Ali Pervaiz Malik on July 15,…
-
IMF Projects Pakistan’s Average Inflation at 8.4% for FY2026–27
ISLAMABAD: The International Monetary Fund (IMF) has projected that Pakistan’s average inflation rate will reach 8.4 percent during the 2026–27 fiscal year, exceeding both the government’s inflation target and the average recorded in the previous fiscal year. The projection is contained in the IMF’s latest country report on Pakistan, which outlines the Fund’s economic outlook…
-
Oil Prices Surge Nearly 9% as U.S.-Iran Tensions Escalate
LONDON: Global oil prices climbed by nearly 9 percent amid escalating tensions between the United States and Iran, as investors reacted to growing concerns over the security of energy supplies through the Strait of Hormuz. According to media reports, Brent crude oil rose 9.1 percent to $82.90 per barrel, while West Texas Intermediate (WTI) crude…
-
Gold Prices Fall by Rs3,800 Per Tola in Pakistan
Karachi: Gold prices declined in Pakistan on Monday, in line with a drop in international bullion markets, according to the Pakistan Gems and Jewellers Association (PGJA). The association said the price of 24-karat gold per tola decreased by Rs3,800, bringing the new rate to Rs429,736 per tola. Similarly, the price of 10 grams of gold…
-
Pakistan Raises Petroleum Levy on Petrol by Rs15.86 Per Litre in One Week
ISLAMABAD: The federal government has increased the petroleum levy on petrol by Rs15.86 per litre within the span of a single week, according to official figures. The increase means that consumers are paying a higher levy despite changes in fuel pricing. Based on the available data, if the government had not raised the petroleum levy,…
-
Bilal Bin Saqib Meets Mufti Taqi Usmani to Discuss Digital Assets and Their Sharia Status
ISLAMABAD: Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman Bilal Bin Saqib has said he held a constructive and productive meeting with renowned Islamic scholar Mufti Muhammad Taqi Usmani to discuss digital assets and the ongoing debate regarding their status under Islamic law. In a statement posted on X (formerly Twitter), Bilal Bin Saqib said the…
-
U.S. Ends Sanctions Waiver, Leaving 63 Million Barrels of Iranian Crude Stranded at Sea
Washington/Tehran: Iran’s oil exports have come under renewed pressure after the United States ended a sanctions waiver, leaving an estimated 63 million barrels of Iranian crude oil stranded at sea. According to a report by Bloomberg, vessel-tracking data shows that tankers carrying millions of barrels of Iranian crude are either anchored or moving slowly between…
-
Pakistan Forced to Purchase Costly LNG from Spot Market as Qatar Extends Force Majeure
Islamabad: Pakistan has been compelled to procure more expensive liquefied natural gas (LNG) from the international spot market after QatarEnergy extended the force majeure declared following an attack on the Ras Laffan LNG production complex. According to official information, Qatar has extended the force majeure by an additional month, with the measure now remaining in…
