Pakistan

ISLAMABAD: Finance Minister Muhammad Aurangzeb on Wednesday cautioned over oil stocks amid global uncertainty due to the US-Israel and Iran war, but said that there was no emergency-like situation in Pakistan. Briefing the Senate Standing Committee on Finance, the minister suggested conserving fuel as a preventive measure. “We are not going for rationing of fuel as there is no fuel shortage in the country, but things could become serious if the war drags on,” Aurangzeb said in response to the query by Saleem Mandviwala, the chairman of the committee. The committee was informed that there were petrol and diesel stocks for 28 days, crude oil stocks for 10 days, and liquefied petroleum gas (LPG) and liquefied natural gas (LNG) for 15 days. “But some cargoes have been stuck in Qatar and to offset this short supply, the output from local gas fields was being enhanced,” he added. The committee was informed that the finance ministry would hold daily meetings with the relevant departments to monitor the country’s fue...

Gold prices climbed 2 per cent on Wednesday, rebounding from their lowest in more than a week reached in the previous session, as the dollar took a breather and mounting tensions in the Middle East drove investors toward safe havens. However, gold prices in Pakistan registered a significant drop of Rs10,000 per tola, settling at the rate of Rs 539,962 per tola. Spot gold gained 2.2pc to $5,198.58 per ounce by 10:17 GMT, after falling more than 4pc on Tuesday. U.S. gold futures for April delivery added 1.7pc to $5,211.20. The U.S. dollar fell 0.2pc, making greenback-priced gold more affordable for buyers using other currencies. “After the past few days of position unwinds and dollar strength, markets are back to a more typical macro risk-off stance, with silver higher too. A pause in the rise of the dollar and Treasury yields helps with their opportunity costs,” said Jamie Dutta, market analyst at Nemo.money. “Gold and silver’s safe-haven characteristics can shine again.” Spot silver advanced 5.3pc to $86.39 p...

Operatives from Iran’s Ministry of Intelligence signalled openness to the US Central Intelligence Agency (CIA) to talks on ending the war, the New York Times reported on Wednesday, citing officials briefed on the matter. The offer was made through an unnamed country’s spy agency, the NYT said, citing Middle Eastern officials and officials from a Western nation who spoke on condition of anonymity. The White House and the CIA did not immediately respond to a request for comment. Officials in Washington are sceptical as to whether Iran or the Trump administration is really ready for an “off-ramp”, at least in the short term, the report added. Iran’s ambassador to the United Nations in Geneva on Tuesday ruled out for now any negotiations with the United States, days after the US and Israel launched joint strikes on his country. President Donald Trump said on Tuesday that Tehran wanted to talk but it was too late, as the United States continued its military operation against Iran.

Former Pakistan captain Babar Azam was dropped from the squad for a One-Day International series against Bangladesh, despite scoring a century in his last ODI series. The Pakistan Cricket Board (PCB) announced a 15-man squad on Wednesday that excluded Babar who made an unbeaten 102 against Sri Lanka in November. He endured a torrid time at the Twenty20 World Cup, however, managing just 91 runs across four innings as Pakistan exited at the Super Eight stage. Left-arm fast bowler Shaheen Shah Afridi will captain the side for the three-match series starting next week in Dhaka. The PCB called up six uncapped players including Abdul Samad, Maaz Sadaqat, Saad Masood and Shamyl Hussain who played against the England Lions in Abu Dhabi before the series was called off due to the conflict in the Middle East. Pakistan squad: Shaheen Shah Afridi (captain), Abdul Samad, Abrar Ahmed, Faheem Ashraf, Faisal Akram, Haris Rauf, Hussain Talat, Maaz Sadaqat, Mohammad Rizwan (wicketkeeper), Mohammad Wasim Junior, Muhammad Ghazi ...

Shehbaz Sharif is presiding over a high-level consultation of parliamentary leaders and party representatives in Islamabad to deliberate on the fast-changing regional security environment.

Tahir Ashrafi, Chairman of the Pakistan Ulema Council, has expressed satisfaction over the prevailing security conditions in Balochistan, asserting that safeguarding national interests and public protection remains the state’s foremost priority.

Muhammad Aurangzeb on Tuesday informed the Senate Standing Committee on Finance that Pakistan currently has sufficient petrol and diesel stocks for the next 28 days, assuring lawmakers that there is no shortage of oil and gas in the country.

Pakistan’s benchmark KSE-100 index was trading in the red, down 1,354.88 points by the close of the session on Wednesday, taking back the recovery seen earlier in the day. In early trade on Wednesday, the index briefly slipped more than 2,300 points around 9:20am, touching an intraday low of 154,790.73 before regaining ground by 10:30am, trading 381.98 points higher. This volatility suggests that investor confidence still remains cautious, following a turbulent start to the week. On Tuesday, the market staged a sharp rebound of 5,159.10 points to close at 157,132.09, recovering a significant portion of Monday’s record 16,000-plus point plunge, the largest single-session decline in the history of the Pakistan Stock Exchange. The turbulence reflects broader global uncertainty. Escalating US-Israel clashes with Iran have pushed oil prices to a 19-month high and weighed on international equities, as investors grapple with the risk of a prolonged conflict in the Middle East. Topline Securities noted that the “over...

The Embassy of Pakistan, Abu Dhabi has temporarily suspended consular services as a precautionary measure following escalating regional tensions after Israel-US attacks on Iran.

On Sunday afternoon, protesters in Islamabad pressed shoulder to shoulder, most of them dressed in black, and chanted slogans that rippled through the crowd. “Death to America, death to Israel,” they shouted in unison. Among them was also Kazim Hussain, who clutched a portrait of Ayatollah Khamenei. The student, also an activist affiliated with Shia group Imamia Students Organisation (ISO), believes that the crisis unfolding in Iran was not a distant geopolitical conflict playing out beyond Pakistan’s western border. For him, it is deeply personal and emotionally moving. “This is not just an attack on Iran. It concerns all Shia Muslims,” he said, raising his voice above the chants as the crowd marched toward the US embassy. “The death of Ayatollah Khamenei will not end the movement. It has strengthened it.” Kazim’s words reflect a growing wave of anger and grief within Pakistan’s Shia community following the assassination of Iran’s supreme leader amid escalating attacks by Israel and the United States, as wel...

The US State Department said on Wednesday it had ordered non-emergency personnel from US consulates in the cities of Karachi and Lahore and their families to leave Pakistan due to security concerns. “The Department of State ordered non-emergency US government employees and the family members of US government personnel from US Consulates Lahore and Karachi to leave Pakistan due to safety risks,” the US Mission in Pakistan said in a statement. It said there was no change to the status of its embassy in Islamabad. The advisory noted “an ongoing threat of drone and missile attacks from Iran and significant disruptions to commercial flights” amid the ongoing conflict in the Middle East. While there is also an additional consulate in Peshawar, the updated travel advisory did not mention anything about it. Following the onset of hostilities between Iran and the US and Israel since February 28, the State Department has issued similar instructions for its staff in multiple regional countries. These include Jordan, Bah...

ISLAMABAD: Pakistan on Wednesday formally requested that Saudi Arabia provide an alternative oil supply route through Yanbu to maintain its fuel supply chain in the wake of the closure of the Strait of Hormuz following the United States-Israel attack on Iran. The request was made by Federal Minister for Petroleum Ali Pervaiz Malik to the Saudi ambassador to Pakistan, Nawaf bin Said Al-Malki during a meeting. The Saudi ambassador assured full support in this regard, according to a statement by the petroleum division. During the meeting, both sides discussed matters of mutual interest and bilateral cooperation. The minister apprised the ambassador about the current situation and the implications of the closure of the Strait of Hormuz on global energy markets. He stated that Pakistan is closely monitoring the evolving situation on a daily basis, as the majority of Pakistan’s energy supplies transit through the strait. The minister emphasised that Pakistan’s government was actively endeavouring to ensure continui...

The first total lunar eclipse of 2026 concluded on Tuesday night after being observed across the world, including Pakistan.

The distribution of financial assistance under the Ramazan relief package will begin in Peshawar today (Wednesday), as the Khyber Pakhtunkhwa government rolls out support for low-income families across the province.

The Pakistan Embassy in the United Arab Emirates (USE) announced the temporary suspension of its in-person consular services “until further notice” on Wednesday in view of the evolving regional situation. A circular issued by the embassy referred to an advisory by the UAE Ministry of Human Resources and Emiratisation recommending remote work for the private sector, discouraging workers from remaining in open areas. The embassy termed the measure “precautionary”, saying it had been taken “in the interest of the safety and well-being of community members and embassy staff alike”. It provided emergency contact numbers for community members to remain in touch if they needed assistance: +971 2 4447800 (Landline) +971 50 121 0260 (Mobile) +971 50 124 8934 (WhatsApp) The embassy added that updates regarding resumption of services would be communicated “in due course” through official channels. It advised Pakistani nationals to follow the instructions of local authorities and stay informed through official announceme...

GENEVA: The United States made a “totally stupid decision” to attack Iran while in negotiations, and betrayed Gulf nations by trashing their diplomatic efforts, Tehran’s UN ambassador in Geneva Ali Bahreini said on Tuesday. The ambassador insisted Tehran had made no approach to Washington for negotiations, saying “there hasn’t been any contact from our side”. Trump had claimed earlier that the Iranian leadership “wants to talk” and had “contacted Washington” for this purpose. Ali Bahreini said Tehran had no problem with its neighbours, but could not let US bases in the Gulf be used as launch pads for attacks on Iran. “War was not our option. War was imposed on Iran,” Bahreini told UN correspondents. Ambassador Ali Bahreini denies Trump’s claim that Tehran has reached out to Washington for talks “Nobody should expect Iran to show restraint in front of aggression. We will continue our defence until the point that this aggression is stopped,” he said. On Feb 26, Washington and Tehran held indirect negotiations i...

The Senate was informed on Tuesday that Pakistan International Airlines (PIA) incurred an estimated revenue loss of nearly Rs200 billion from August 2020 to December 2024 due to the fake pilot license scandal.

The National Electric Power Regulatory Authority (NEPRA) on Tuesday approved an increase of 35 paisa per unit in electricity prices under a quarterly adjustment.

Shehbaz Sharif on Tuesday held a telephonic conversation with Recep Tayyip Erdogan to discuss the prevailing regional situation, as tensions continue to rise in the Middle East.

GILGIT: The Gilgit-Baltistan government on Tuesday decided to constitute a judicial commission to investigate the overall security situation in the region. At least 13 people, including a security official, were killed and over 100 injured, while government and non-government infrastructure, private properties and security installations were vandalised during protests that erupted after the martyrdom of Iranian Supreme Leader Ayatollah Ali Khamenei in US and Israeli attacks on Iran. According to a press release, the GB government also decided to launch a large-scale de-weaponisation campaign in the region, and relevant institutions have been directed to immediately complete all necessary arrangements in this regard. In view of the security situation, curfew will remain in force in Gilgit and Skardu until further orders, with limited relaxation allowed for movement and emergencies. Meanwhile, a meeting of the Special Apex Committee was held in Gilgit under the chairmanship of GB caretaker Chief Minister retire...