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Pakistan mulls energy conservation measures as oil prices rise, Middle East conflict intensifies
ISLAMABAD: Pakistan’s Sindh government and the federal government discussed energy conservation measures amid a sharp rise in global oil prices on Sunday, the Sindh chief minister’s spokesperson said, as the conflict between Iran, Israel and the US intensifies. Fuel prices jumped more than 10 percent worldwide this week as oil rose above $90 a barrel, the highest in years. Pakistan on Friday increased petrol and diesel prices by Rs55 ($0.20) per liter each, as key energy shipping routes such as the Strait of Hormuz remain disrupted.
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Pakistan raises fuel prices by Rs55 per liter as Middle East conflict drives oil surge
ISLAMABAD: Pakistan on Friday increased petrol and diesel prices by Rs55 ($0.20) per liter each as escalating conflict in the Middle East sent global oil prices sharply higher and…
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Pakistan PM gives 48 hours to draft fuel-saving plan as global oil prices surge
ISLAMABAD: Prime Minister Shehbaz Sharif has asked his administration to formulate a strategy for fuel conservation and austerity in government affairs within 48 hours after a…
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Pakistan fuel price hike may slow growth, push inflation higher, economists warn
KARACHI: Pakistan’s economy is bound to bear the brunt of a recent hike in fuel prices by more than 20 percent, economists and industry leaders warned this week, fearing the move…
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Pakistan mulls energy conservation measures as oil prices rise, Middle East conflict intensifies
ISLAMABAD: Pakistan’s Sindh government and the federal government discussed energy conservation measures amid a sharp rise in global oil prices on Sunday, the Sindh chief…
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Pakistan to unveil austerity plan on Monday as Middle East conflict drives oil price surge
ISLAMABAD: Pakistan is set to unveil an austerity plan tomorrow, Monday, as surging global oil prices, driven by United States and Israeli strikes on Iran, mount pressure on Prime…
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Pakistan says three oil shipments to reach country today amid Middle East crisis
ISLAMABAD: Pakistan’s Petroleum Minister Ali Pervaiz Malik said this week that three oil shipments are expected to reach Pakistan on Monday, state media reported as Islamabad…
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Pakistan commerce body calls for ‘energy emergency’ to shield economy from Middle East conflict
KARACHI: Pakistan’s leading commerce body on Monday urged the government to declare an “energy emergency” to shield the country’s economy from an intensifying conflict between the…
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Pakistan says petroleum stocks at ‘comfortable levels’ despite Middle East crisis
KARACHI: Pakistan has “comfortable levels” of petroleum stocks and the supply chains are functioning smoothly, the finance ministry said on Monday, amid an ongoing Middle East…
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As Middle East war jolts oil markets, Pakistanis rethink how they live and work
ISLAMABAD: When Muhammad Ibraheem started his workday earlier this week, he didn’t head out to meet clients across Islamabad. Instead, he opened his laptop for a remote meeting,…
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Pakistan says Saudi help securing oil supplies as it vows to absorb price shocks amid Iran war
ISLAMABAD: Pakistan said on Tuesday it was working with Saudi Arabia and the United Arab Emirates to secure oil supplies and would try to absorb any further global price shocks to…
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Pakistan inflation could cross 7 percent if Middle East war pushes oil to $130, economists warn
KARACHI: Pakistan’s fragile economic recovery could face renewed inflationary pressure if global oil prices surge to $130 per barrel amid the escalating Middle East conflict,…