Author: Admin

Aurangzeb Reviews Engro-Vopak Terminal Operations at Port Qasim

Admin
Port-Qasim

ISLAMABAD: Federal Minister for Finance and Revenue Muhammad Aurangzeb held a meeting with Robert Jan Siegert and a delegation from Engro Corporation and Engro Vopak Terminal Limited to discuss bilateral economic cooperation and review operations of the Engro-Vopak terminal at Port Qasim. The delegation included Ahsan Zafar Syed, Ammar Shah, and Yasir Ali. According to a statement issued by the Ministry of Finance Pakistan, the Engro team briefed the finance minister on the operations of Engro Vopak Terminal Limited, a joint venture between Royal Vopak and Engro Corporation. The terminal…

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Pakistan Has Adequate Fuel Stocks, No Shortage Despite Global Crisis: Aurangzeb

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New-Project92

ISLAMABAD: Finance Minister Muhammad Aurangzeb on Wednesday assured that Pakistan currently faces no fuel shortage, despite rising global uncertainty caused by the ongoing conflict involving the Israel, Iran, and the United States. Briefing the Senate Standing Committee on Finance, the minister advised consumers to conserve fuel as a precautionary measure, though he emphasized that the country is not considering fuel rationing at this stage. “We are not going for rationing of fuel as there is no fuel shortage in the country, but the situation could become serious if the war…

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Hormuz Crisis Disrupts Global Energy Supplies as US Pledges Escorts for Oil Tankers

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New-Hormuz

LONDON: Escalating tensions in the Middle East have severely disrupted global energy supply chains after a US strike on an Iranian warship intensified the ongoing conflict, leading to a near paralysis of shipping through the strategic Strait of Hormuz for the fifth consecutive day. The situation worsened on Wednesday after a US submarine reportedly struck an Iranian naval vessel off Sri Lanka, killing 87 sailors. In response to the escalating crisis, US President Donald Trump announced that Washington would provide insurance support and naval escorts to vessels transporting oil and…

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Power Tariff Increased: Consumers to Bear Rs23bn Additional Burden

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Nepra-Price

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has notified an additional financial burden of about Rs23 billion on electricity consumers by allowing a Rs1.63 per unit increase in fuel cost for March along with approximately 35 paisa per unit in additional charges for the next three months. As a result, electricity consumers will face a total increase of around Rs1.98 per unit in their bills during March. The impact of the Fuel Cost Adjustment (FCA) alone is estimated at Rs14 billion, while Rs8.7 billion under the Quarterly Tariff Adjustment…

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Pakistan cuts gas for some industry buyers as Middle East war upends supply: report

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us natgas

Pakistan’s largest gas distributor was set to cut supplies to some of its industrial customers, suggesting growing strain in one of the economies most dependent on energy exports from Qatar, Bloomberg reported on Wednesday. According to the report, the conflict in the Middle East has caused the most extensive disruption to the global energy trade since Russia’s invasion of Ukraine in 2022, blocking the Strait of Hormuz and shuttering giant energy facilities including Qatar’s Ras Laffan liquefied natural gas export plant. This happened after Israel and the US carried out attacks on Iran, followed…

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