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PSX sheds 5,108 points on war concerns

KARACHI: The Pakistan Stock Exchange (PSX) came under sustained pressure during the outgoing week, shedding 2.9%, or nearly 5,110 points, to close at 168,062 amid geopolitical tensions, cross-border security concerns and cautious investor sentiment. The decline coincided with the arrival of an International Monetary Fund (IMF) mission for the third review of Pakistan’s $7 billion Extended Fund Facility and the Resilience and Sustainability Facility assessment, keeping market participants focused on external financing prospects and macro-stability signals. On a day-on-day basis, the PSX commenced the week on a distinctly negative note,…

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OPEC+ mulls larger oil output boost

LONDON/MOSCOW: OPEC+ may consider a larger-than-planned output increase of 411,000 barrels per day at a meeting on Sunday, two sources close to the talks said, after Saudi Arabia and the UAE raised exports in anticipation of possible disruption to oil markets from US-Israeli strikes on Iran carried out on Saturday. Eight members of OPEC+, which groups the Organisation of the Petroleum Exporting Countries and allies — Saudi Arabia, Russia, the UAE, Kazakhstan, Kuwait, Iraq, Algeria and Oman — were already scheduled to meet on Sunday at 1100 GMT. Despite expectations that oversupply…

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Govt hikes petrol by Rs8, high-speed diesel by Rs5.16

The government on Saturday raised the prices of petrol by Rs8 per litre and high-speed diesel (HSD) by Rs 5.16 per litre for the next fortnight. According to a notification issued by the Ministry of Petroleum, the new price of petrol has been set at Rs 266.17 per litre after the increase. Meanwhile, HSD has risen to Rs 280.86 per litre. The revised prices will remain in effect from March 1 to March 15. Read More: OGRA orders refineries to ensure adequate oil reserves due to Middle East situation High-speed diesel is…

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IMF GCDA report ‘compromised’

ISLAMABAD: In scorching criticism of the International Monetary Fund (IMF)’s highly trumpeted Governance and Corruption Diagnostic Assessment (GCDA), an independent think tank has described the report as “analytically strong” but said it compromised on politically sensitive reforms and institutional independence. The think tank’s report revealed that the IMF compromised on the independence of the National Accountability Bureau (NAB), the Auditor General of Pakistan and oversight of the Special Investment Facilitation Council (SIFC). The Global Think Tank Network (GTTN) also said that 73% of fiscal consolidation under the IMF programme was…

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Four sentenced to death in murder case

RAWALPINDI: The Sessions courts on Saturday sentenced four individuals to death and imposed fines totaling Rs2 million in connection with a brutal murder case took place in the limits of Jatli police station. Additionally, two suspects involved in drug smuggling were handed prison terms of 19 years. Additional District and Sessions Judge Gujar Khan, Abdullah Usman, at the Tehsil Court in Gujar Khan, presided over the case. The four convicts — Mohsin Ali, Ameer Hamza, Nadeem Akhtar, and Amjad Ali — were found guilty of killing Muhammad Irfan, the husband of the…

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Politicians close ranks for national security

ISLAMABAD: The country’s major political parties have closed ranks in support of national security following what they described as unprovoked attacks by the Taliban regime and Pakistan’s befitting response, though their prescriptions range from forceful retaliation to restraint and dialogue. Minister of State for Interior Talal Chaudhry on Friday warned that those responsible for unprovoked firing and attack would regret their actions. He vowed that Pakistan would respond decisively to protect its sovereignty and ensure public safety. “They will regret the day they carried out unprovoked firing and attack yesterday,”…

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World appeals for calm amid escalation

ISLAMABAD: Friendly nations and global leaders on Friday urged calm between Pakistan and Afghanistan following overnight border clashes and Pakistan’s punitive retaliatory action against Kabul that killed hundreds of Taliban operatives and destroyed their several check posts. Top diplomats from several countries took to social media urging restraint, dialogue and adherence to international law, while Foreign Minister Ishaq Dar reached out to his counterparts from key regional partners to brief them on the unfolding situation. Pakistan launched operation Ghazab Lil Haq soon after Taliban attacked Pakistani posts along the Pakistan-Afghanistan…

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Gulf war: govt says country has ample fuel

ISLAMABAD: The government has assured the nation that Pakistan holds ample crude and petroleum product stocks, and there is no cause for panic despite the emerging security situation in the Gulf region. The assurance came during a high-level meeting jointly chaired by Federal Minister for Petroleum Ali Pervaiz Malik and Federal Minister for Finance Muhammad Aurangzeb on Saturday. The meeting reviewed the country’s fuel supply position in the wake of the US-Iran war, which is going to affect regional shipping routes, particularly around the Strait of Hormuz. The session was…

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Opp MPs condemns attack on Iran

ISLAMABAD: Opposition leaders on Saturday vehemently condemned the US-Israeli attack on Iran, warning that the strike could destabilise the entire region and endanger global peace. Addressing a joint press conference, Leader of the Opposition in the Senate Allama Raja Nasir Abbas, former senator Mustafa Nawaz Khokhar, Tehreek Tahaffuz Ayeen Pakistan (TTAP) spokesperson Akhunzada Hussain Yousafzai and other leaders of Majlis Wahdat-e-Muslimeen called on the government to adopt an immediate and unequivocal stance on the issue. Allama Raja Nasir Abbas said he had come to brief the nation on an extremely…

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Petrol becomes costlier by Rs8 per litre

ISLAMABAD: Amid Gulf tensions that may lead to a further hike in oil prices, the government on Saturday increased the price of petrol by Rs8 per litre with effect from March 1, 2026. It also raised the price of diesel by Rs5.16 per litre for the next fortnight, up to March 15. As international markets have inched upwards, the government increased the prices based on calculations made by the Oil and Gas Regulatory Authority (OGRA). The new per-litre price of petrol is Rs266.17, while diesel will cost Rs280.86. However, despite…

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