Islamabad: The Pakistan Economy Watch (PEW) on Sunday said an influential mafia has embezzled billions by misusing petroleum freight subsidy. The inland shipment subsidy is offered to ensure uninterrupted supply and keep prices of the …

LONDON: Oil rose above $36 a barrel on Friday after the United Arab Emirates joined leading exporter Saudi Arabia in deepening supply curbs in line with OPEC’s biggest ever output cut announced last week. U.S. …

LONDON: Oil fell below $34 on Friday to its lowest level in almost five years as the global economic slowdown overshadowed OPEC’s record supply cuts. U.S. light crude for January delivery CLc1 fell $2.64 to …

Pakistan Economy Watch said decision to use ethanol as fuel could result in severe food crisis and environmental hazards. Apart from energy, it requires four to five gallons of water to produce one gallon of …

KARACHI: Shell Pakistan has denied 100 per cent supply of oil to Civil Aviation Authority (CAA). This might affect the fuel supply to flights scheduled to carry Hajj pilgrims to Saudi Arabia in these days. …

ISLAMABAD: The National Assembly has been informed that the government is providing subsidy on petroleum products by not passing the full impact of international price increase to the consumers to provide them oil on reasonable …

ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani has approved the hike in POL prices and the summary has been sent to Oil and Gas Regulatory Authority (OGRA), sources said. After the increase in POL prices, …

SBP increases discount and bank interest
The benchmark KSE 100-Index shed 347 points to close at 13627 speculations about stringent economic measures by the central bank triggered selling in banking and insurance stocks. Share prices at …

KARACHI: Oil prices hit a record hitting up 130.05 dollars a barrel on Wednesday. The unprecedented soaring oil prices are due to the prevailing anxiety about stretched supplies in the face of strong demand for …

The world’s financial experts have placed Pakistan on a list of 36 countries that face a serious food crisis, warning that if the situation worsens people may raid storage facilities for food. Like rest of …