Category: Featured

ISLAMABAD: The Competition Commission of Pakistan (CCP) has detected more than 200 potential competition law violations and merger cases during the past two years using artificial intelligence and automated digital tools developed by its Market Intelligence Unit (MIU). A paper titled “Leveraging Artificial Intelligence for Detecting Anti-Competitive Activities: Pakistan’s Journey towards Modernised Competition Enforcement,” published in the Asia-Pacific Competition Update of the Organisation for Economic Co-operation and Development (OECD), outlines CCP’s initiatives to strengthen and modernise its enforcement functions through the use of advanced technologies and AI-driven monitoring tools. Pakistan’s…

ISLAMABAD: Federal Minister for Energy (Power Division) Awais Ahmed Khan Leghari held a virtual meeting with Turkiye Minister for Energy and Natural Resources Alparslan Bayraktar, during which both ministers discussed ways to further strengthen bilateral cooperation in the energy sector. The discussion particularly focused on Pakistan’s ongoing power sector reforms and the privatisation of electricity distribution companies (DISCOs). Federal Minister Awais Leghari briefed his Turkish counterpart on the comprehensive reforms being implemented in Pakistan’s power sector, aimed at enhancing operational efficiency, strengthening institutional governance and improving service delivery. He noted…

KARACHI: Pakistan’s weekly inflation, measured by the Sensitive Price Indicator (SPI), recorded a year-on-year (YoY) increase of 4.70% for the week ended March 5, 2026, according to data released by the Pakistan Bureau of Statistics (PBS). The SPI, which tracks prices of 51 essential commodities across 17 urban centres to gauge short-term inflationary trends, showed a modest rise compared to the same week of last year. Among the items that registered significant YoY price increases, gas charges for Q1 surged by 29.85%, followed by wheat flour (26.13%), electricity charges for…

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has directed chief executive officers of oil marketing companies (OMCs) to ensure uninterrupted supply of petroleum products to retail outlets amid geopolitical concerns over the Middle East conflict. The regulator has warned of strict action against those involved in oil hoarding to pocket money from consumers by creating artificial shortage of fuel. “In view of the prevailing geopolitical situation and potential market sensitivities, all oil marketing companies are directed to ensure uninterrupted supply and smooth distribution of motor spirit (petrol) and high-speed…

US crude oil futures climbed ​more than 10% on Friday, pulling closer to Brent as buyers sought available barrels, with Middle Eastern supply constrained by the effective ‌closure of the Strait of Hormuz amid the expanding US-Israeli conflict with Iran. Brent crude futures were up $5.42, or 6.35%, at $90.83 a barrel at 10:37 am CST (1637 GMT). West Texas Intermediate crude (WTI) was up $7.81, or 9.81%, at $88.96. It was the second straight day that gains in US crude futures had outpaced those in the Brent contract. “Refiners…

Qatar expects all Gulf energy producers to shut down exports within weeks if the Iran conflict continues and drives oil to $150 a barrel, the country’s Energy Minister Saad al-Kaabi told the Financial Times in an interview published on Friday. Qatar halted its production of liquefied natural gas on Monday, as Iran continued to strike Gulf countries in retaliation for Israeli and US attacks. The country’s LNG production is equivalent to about 20% of global supply and plays a major role in balancing both Asian and European markets’ demand for the fuel. “Everybody who has…

The government on Friday sharply increased diesel and petrol prices by Rs55 per litre or 20% — marking the first increase in a series of similar surges in coming days due to the ongoing US-Israel and Iran war, which has disrupted supply chains and pushed crude oil prices to two years’ highest level. Regional tensions escalated sharply after air strikes by the United States and Israel last week killed Ayatollah Ali Khamenei, Iran’s Supreme Leader, along with several senior officials. The strikes triggered retaliatory actions by Iran, widening the conflict…

ISLAMABAD: Pakistan plans to present a five-year roadmap aimed at significantly increasing trade with Uzbekistan, as both countries reviewed progress on bilateral economic cooperation and explored new avenues for expanding commercial ties. The development came during the second session of the Pakistan-Uzbekistan Joint Working Group on Trade, held in Islamabad under the chairmanship of Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan. According to a statement issued by the Ministry of Industries and Production on Friday, the meeting reviewed progress on previously agreed Memorandums of…

ISLAMABAD: The government on Friday approved revised electricity purchase contracts with 15 power plants, which would save about Rs163 billion over the remaining life of their contracts and also write off interest payments to government-owned plants. The decision, taken by the Economic Coordination Committee (ECC) of the Cabinet, would help marginally reduce energy costs and pave the way for clearing the Rs235 billion circular debt that the government owes to its own power plants. Headed by Finance Minister Muhammad Aurangzeb, the ECC revised the terms of agreements with 14 wind-based…