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Three petroleum shipments are expected to reach Pakistan by tomorrow, Petroleum Minister Ali Pervaiz Malik informed a briefing called to discuss rising global oil prices and fuel reserves amid the widening Middle East conflict on Sunday. The meeting attended by Finance Minister Muhammad Aurangzeb and Sindh Chief Minister Murad Ali Shah comes a day after Prime Minister Shehbaz Sharif directed the finance and petroleum ministers to work with provincial governments on a strategy to conserve and ensure uninterrupted supply of petroleum products amid fuel shortage concerns sparked by the Israel-Iran war . The federal government delegation offered a detailed briefing to the Sindh CM on the recent price hike and fuel reserves, according to a statement issued by CM House. Finance Minister Aurangzeb told the meeting that Pakistan’s monthly oil import bill could increase to $600 million in the backdrop of the conflict, adding that the government is continuously monitoring global energy market...

Pakistan Railways on Saturday increased the fares of economy class and air-conditioned class tickets by five per cent and 10pc respectively, following the hike in petrol and diesel prices. According to a statement by the Pakistan Railways spokesperson, the fares of cargo trains have also increased by 20pc The new prices will take effect from Monday, March 9. However, the fare increase will not apply to bookings made in advance, the spokesperson said. He further said that Pakistan Railways will bear the additional burden of operational expenses of passenger trains. The development comes after the government increased the prices of petrol and high-speed diesel by Rs55 per litre, the highest-ever such hike as Pakistan felt the first direct economic impact of the US-Israel war on Iran. The ex-depot price of high-speed diesel was fixed at Rs335.86 per litre for the coming week, up by about 20pc from Rs280.86 per litre. Likewise, the ex-depot price of petrol was revised to Rs321.17 pe...

Military consultations between Islamabad and Riyadh following Iranian drone and missile strikes on Saudi territory highlight the delicate strategic balance Pakistan must maintain as the Iran conflict expands beyond its original theatre and begins to affect the security of Gulf states. The statement issued by Inter-Services Public Relations (ISPR) after the meeting between the Chief of Defence Forces (CDF) and Chief of the Army Staff (COAS) Field Marshal Asim Munir, and Saudi Defence Minister Khalid bin Salman, on its face, looks fairly routine and predictable, but when read closely, a careful calibration of language by Pakistan becomes obvious. The Pakistani statement acknowledged the gravity of the situation arising from Iranian drone and missile attacks on the Kingdom and noted that CDF Munir discussed with the Saudi defence minister the measures required to halt them within the framework of the Strategic Mutual Defence Agreement (SMDA) between the two countries. This in itsel...

On a balmy winter day, Irfanullah Wahid and his cousin Faisal Asadullah amble through a maze of carts in Karachi’s Shireen Jinnah neighbourhood. They are young – only 11 and 10 years old respectively – and the white bags they carry are almost as tall as they are. They laugh and joke, but their eyes are peeled. Every few steps, they pause, bend, pick something up off the street and slip it into the bags. Wahid collects only metal cans. Asadullah sticks to thick plastics. Asadullah stoops to pull out a flimsy plastic bag, commonly known as ‘shopper’ across Pakistan, stuck in the wheel of a cart. His practised hands rip it off with ease. “I don’t collect these”, he says, holding it up to show the difference with the sturdier material he rummages for. Around him, there is scattered litter. Chips packets, sachets of shampoo and of saunf-supari (mouth freshener). Most are made of non-recyclable laminates which has no use for. “The kabadiwallah (recycler) won’t pay for this,” he says. I...

The Indian National Congress on Friday assailed the Narendra Modi-led BJP government after the US temporarily allowed Russian oil stranded at sea to be sold to India, saying the move called into question the country’s autonomy in matters of national interest. The waiver, which the US Treasury Secretary Scott Bessent said was issued to “enable oil to keep flowing into the global market,” comes under heightened tensions in the Middle East following the US-Israeli attack on Iran, sparking uncertainty around oil. It should be noted that India had earlier said it would stop purchasing Russian oil as part of a trade deal with the US. In a post on X, the Congress, citing the development, criticised the Indian government, and stressed that the BJP-led government “has led the country to a situation where the US is now deciding where India can buy oil from and where it cannot”. “This decision is not being made by Prime Minister Modi, nor by the Indian government,” it said. Congress said t...

The central bank ​is expected to hold its key policy rate steady at a policy ‌review on Monday, a Reuters poll showed, as rising global energy prices and regional tensions cloud the inflation outlook and limit the room for cuts. All 10 analysts in a Reuters poll expect the State ​Bank of Pakistan (SBP) to hold the rate at 10.5 per cent, after policymakers held the rate ​in January . The central bank has cut the key rate by a cumulative ⁠11.5 percentage points since mid-2024, from a record high of 22pc. Escalating Middle East tensions ​after the US and Israel attacked Iran have raised the risk of disruption to shipping ​through the Strait of Hormuz and pushed oil-and-gas prices higher, adding to Pakistan’s import bill and inflationary pressures. Analysts expect inflation to average between 6pc and 8pc in the coming months , but warned higher oil prices could push it up ​further. “Energy prices should dictate the policy rate trajectory. Inflation could average around 7pc during ...

ISLAMABAD: The country continues to face critical challenges in financing and ensuring access to education, reveals a government report released on Thursday. With an alarming number of out-of-school children and 77 per cent of ten-year-olds unable to read and understand a simple text, the urgency of aligning financing priorities with teacher quality, learning materials, and stronger assessment systems has never been greater. Whereas the country’s declining trend in education spending reflects a progressive weakening of education’s position within the national fiscal framework. This was pointed out in a new 171-page report titled “Public Financing in Education 2025-26” released by Pakistan Institute of Education (PIE) –a subsidiary of the Ministry of Federal Education and Professional Training in Islamabad. The report covered low funding in overall education sectors, the role of provincial foundations, learning outcomes, underfunded special education and several other areas. The re...