Author: Admin

ISLAMABAD: Attock Refinery Limited (ARL) has announced the temporary shutdown of its main crude distillation unit due to a severe shortage of crude oil, according to a regulatory filing made Tuesday at the Pakistan Stock Exchange (PSX). In its notice, the refinery stated: “We wish to inform you that ARL has shut down its main crude distillation unit (32,400 barrels per stream day capacity) due to very low crude stocks.” The shutdown, which began this week, is expected to continue until June 01, 2025. The company attributed the shortfall in…

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ISLAMABAD:The announcement of Pakistan’s Federal Budget 2025-26 has been delayed from June 2 to June 10 due to key disagreements with the International Monetary Fund (IMF) over budgetary targets, particularly subsidy allocations, the Finance Ministry confirmed on Monday. Speaking during a meeting of the Sub-Committee of the National Assembly Standing Committee on Commerce, chaired by Khurshid Ahmed Junejo, Joint Secretary (Corporate Finance) Sajjad Azhar outlined ongoing challenges in finalizing the budget, citing IMF restrictions under the Extended Fund Facility (EFF). “The IMF has placed a cap on subsidies, and the…

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BEIJING: China-Pakistan Economic Corridor (CPEC) Phase-II is poised to unlock Pakistan’s immense mining sector potential, said Bilal Mahmood Chaudhary, Deputy Head of Mission at Pakistan’s Embassy in Beijing, during his keynote at the 4th Asia Mining Innovation and Development Summit. Chaudhary highlighted Pakistan’s mineral wealth, including 186 billion tons of coal, 5 million tons of copper, 400 tons of gold at Reko Diq, and 500 million tons of iron ore. He emphasized that under CPEC 2.0, which focuses on value addition and downstream processing, Pakistan is set to become a…

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