ISLAMABAD: Pakistan’s information minister Chaudhry Fawad Hussain announced on Thursday the country’s petrol retailers had agreed to call off a strike after reaching an agreement with the government over an increased profit margin.
Earlier in the day, the country’s petroleum division had urged these retailers to end their indefinite strike which was causing public inconvenience while pointing out it had already forwarded a summary regarding the increase in their margin to the Economic Coordination Committee (ECC).
The Pakistan Petroleum Dealers Association went on a strike after failing to secure a deal with the government to increase their margin to at least six percent per liter.
The strike call was followed by long traffic queues at petrol stations across the country.
“The Petroleum Dealers Association has ended its strike,” Hussain announced in a Twitter post while calling it “good news.”
Quoting the association’s spokesperson Jahanzaib Malik, a local newspaper, Dawn, said petroleum dealers had agreed to a 4.4 percent increase in their profit.
“Malik said that petrol dealers were charging Rs3.91 per liter and would now charge Rs4.90,” the newspaper reported. “He said that the price of petrol would be increased after the government announced the rates for next month.”
Prior to reaching the agreement, Pakistani officials asked these dealers to call off their strike and follow the procedure to secure an increase in the profit margin.
“The association of petrol dealers should wait for the ECC meeting as per the rules,” the petroleum division at the energy ministry told them. “The association should exhibit responsibility in the larger interest of the country.”
However, the petroleum dealers said in a statement on Wednesday they were unable to run their business at the current margin in the face of rising inflation in the country.
They also maintained the government promised to increase their profit earlier this month but reneged on its commitment.
“We feel for the public,” the statement said, “but we are left with no option. We cannot run petrol pumps anymore at a loss.”
Following the strike call, the government announced that all companies operating petrol pumps would remain functional and cater to the public demand.
However, nearly all privately owned petrol stations in the country halted their operations.
The Oil and Gas Regulatory Authority (OGRA) spokesperson, Imran Ghaznavi, said officials were in touch with the oil marketing companies to ensure uninterrupted supply of petroleum products.
“OGRA teams are in touch with stakeholders and engaged in smooth supplies,” he said.
Pakistan’s finance chief Shaukat Tarin announced recently the government would increase petroleum levy by Rs4 per liter to help meet its revenue target under an agreement with the International Monetary Fund.
He said the government would add this amount to petrol prices every month as part of the levy until it touches 30 rupees per liter.
Pakistani petroleum dealers end strike after proposed increase in profit margins
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Pakistani petroleum dealers end strike after proposed increase in profit margins
- Petroleum dealers went on a strike after failing to secure a deal with the government to increase their margin to at least 6 percent per liter
- Strike call was followed by long traffic queues at petrol stations across the country
Pakistan court issues arrest warrants for top Imran Khan aides over riots led by supporters in 2023
- Khan was himself indicted last month on charges of inciting supporters to attack military’s GHQ headquarters on May 9, 2023
- Hundreds of PTI supporters and leaders were arrested while police registered cases against top leaders, including Khan
ISLAMABAD: An Anti-Terrorism Court (ATC) on Wednesday issued non-bailable arrest warrants for key aides of former premier Imran Khan, local media widely reported, in a case involving riots by supporters of the jailed PM’s Pakistan Tehreek-e-Insaf (PTI) party, including attacks on military installations.
Khan was himself indicted last month on chparges of inciting his supporters to attack the military’s GHQ headquarters during protests on May 9, 2023. That day, after Pakistan’s powerful army publicly rebuked the PTI founder for repeatedly accusing a senior military officer of trying to engineer his assassination, Khan was arrested by the national anti-corruption agency in a land graft case. The arrest sparked a wave of protests by Khan supporters across the country, with rioters attacking important state buildings and ransacking military facilities, including the GHQ in the garrison city of Rawalpindi and the residence of the army’s top commander in the eastern city of Lahore.
Hundreds of PTI supporters and dozens of leaders were subsequently arrested while police registered cases against the party’s top leaders, including Khan.
Pakistan’s top TV news channel, Geo News, reported on Wednesday that non-bailable arrest warrants had been issued for Omar Ayub Khan, the opposition leader in the National Assembly, and Shibli Faraz, the opposition leader in Senate, after both failed to appear before an anti-terrorism court in a case registered at the Civil Lines Police Station.
“Warrants have also been issued ... against PTI’s Kanwal Shauzab as well as former party leader Fawad Chaudhry,” Geo reported. Several other Pakistani news channels also reported on the development.
Nearly 2,000 people were arrested following the May 9 protests and at least eight were killed. The government had called out the army to help restore order.
Though Khan was released on bail within days of the May 9 arrest, he was later arrested in August 2023 after he was handed a three-year prison sentence in a corruption case. He has been in jail since then.
His party was barred from Pakistan’s election on Feb. 8, 2024, but the would-be candidates stood as independents.
Despite the ban and Khan’s imprisonment for convictions on charges ranging from leaking state secrets to corruption, millions of the former cricketer’s supporters voted for him. Independent candidates from his party won the highest number of seats but not enough to form a government on their own. Khan cannot be part of any government while he remains in prison.
Khan and his party say all legal cases against him are based on made-up charges to keep him out of politics at the behest of the army after he had fallen out with the military’s generals. The army denies the accusation.
Last month, the government launched talks with the PTI to cool political temperatures in the South Asian nation. The two sides have met thrice and the PTI has said it will only attend a fourth round of talks if the government announced judicial commissions into accusations Khan’s party and supporters led violent protests on May 9, 2023, and Nov. 26, 2024, when protests in Islamabad demanding Khan’s release turned violent, with the PTI saying 12 supporters were killed while the state said four troops had died.
China’s ADM Group announces $250 investment to set up EV manufacturing plant in Pakistan
- ADM Group last year announced an investment of $350 million in Pakistan’s electric vehicle sector
- Group will set up manufacturing plant, over 3,000 electric vehicle charging stations across Pakistan
ISLAMABAD: China’s ADM Group will invest $250 to set up an electric vehicle manufacturing plant in Pakistan, state media reported on Wednesday, as Islamabad seeks for Beijing to collaborate in setting up industrial zones to manufacture electronic cars.
The government of Pakistan approved an ambitious National Electric Vehicles Policy (NEVP) in 2019 with the goal of electric vehicles comprising 30 percent of all passenger vehicle and heavy-duty truck sales by 2030, and an even more ambitious target of 90 percent by 2040. For two- and three-wheelers, as well as buses, the policy set a goal of achieving 50 percent of new sales by 2030 and 90 percent by 2040.
“Chinese Company ADM Group has announced an investment of two hundred and fifty million dollars to set up an EV manufacturing plant in Pakistan.,” Radio Pakistan reported, saying the initiative was part of efforts by the Special Investment Facilitation Council set up last year to attract foreign investment.
“Transition to EVs is expected to cut fuel import costs, saving billions of dollars.”
Last year, ADM Group announced an investment of $350 million in Pakistan’s EV sector, saying it would establish more than 3,000 electric vehicle charging stations across the South Asian country.
Earlier this month, Pakistan said it would cut the power tariff for operators of electric vehicle charging stations by 45 percent as part of the ongoing reform of the energy sector designed to boost demand. The government is also planning to introduce financing schemes for e-bikes and the conversion of two- and three-wheeled petrol vehicles.
The cabinet on Jan. 15 approved a reduced tariff of 39.70 rupees ($0.14) per unit, down from 71.10 rupees previously, which will be in place within a month. The government expects an internal rate of return of more than 20 percent for investors in the sector.
According to a report submitted to the government by power ministry adviser Ammar Habib Khan and reported by Reuters, there are currently more than 30 million two- and three-wheeled vehicles in Pakistan, which consume more than $5 billion worth of petroleum annually.
The ministry plans to convert 1 million two-wheelers to electric bikes in a first phase, at an estimated net cost of 40,000 rupees per bike, according to the report, saving around $165 million in fuel import costs annually.
BYD Pakistan, a partnership between China’s BYD and Pakistani car group Mega Motors, told Reuters in September that up to 50 percent of all vehicles bought in Pakistan by 2030 will be electrified in some form in line with global targets.
President of Azad Kashmir invites China to explore investments in disputed region
- Move is likely to draw the ire of archrival India which like Pakistan claims the Kashmir region in full
- Since 1947, Pakistan and India have fought three wars over Kashmir, engaged in regular border skirmishes
ISLAMABAD: Azad Jammu and Kashmir (AJK) President Sultan Mahmood Chaudhry has invited Chinese businesses and companies to invest in different sectors of the Pakistan-controlled disputed region, state media reported on Wednesday, in a move that is likely to draw the ire of archrival India.
The Muslim-majority Kashmir region has long been a source of tensions between nuclear-armed neighbors India and Pakistan, leading them to fight three wars since winning independence from the British Empire in 1947. The scenic mountain region is divided between India, which rules the populous Kashmir Valley and the Hindu-dominated region around Jammu city, Pakistan, which controls a wedge of territory in the west called AJK, and China, which holds a thinly populated high-altitude area in the north. Besides Pakistan, India also has an ongoing conflict with China over their disputed frontier.
Since both India and Pakistan tested nuclear weapons in 1998, Kashmir has become one of the world’s most dangerous flashpoints. Islamabad says a UN-mandated referendum should take place to settle the dispute over the region, expecting that the majority of Kashmiris would opt to join Pakistan.
On Tuesday, the president of AJK, which is administered by Pakistan as a nominally self-governing entity, met Li Ping, the director of China’s Yunnan Sunny Road and Bridge Company, and briefed him about “massive investment opportunities” in the region, APP reported.
“Seeking Chinese companies investment in different economic sectors of the State including mining and tourism, he said that the AJK government was ready to offer all kinds of facilities and support to investors,” state media said, as Sultan briefed the visiting Chinese business leader about the tourism potential of the region as well as its abundance of natural resources and precious stones, especially rubies and other minerals.
Li gave a detailed briefing to Sultan about the aims, objectives and business activities of his company, which specializes in tunnels, highways and other construction sectors.
“He also expressed his company’s desire to start its projects in Azad Kashmir,” APP said. “The President expressed satisfaction over Yunnan Sunny Company’s desire and said that the AJK government would welcome foreign investment.”
Beijing has already pledged investments in AJK under the China Pakistan Economic Corridor scheme, including the Karot and Kohala hydropower projects, the construction of M-4 motorway, and a Special Economic Zone at Mirpur.
After the partition of the subcontinent in 1947, Kashmir was expected to go to Pakistan, as other Muslim majority regions did. Its Hindu ruler wanted to stay independent but, faced with an invasion by Muslim tribesmen from Pakistan, hastily acceded to India in October 1947 in return for help against the invaders.
The dispute over the former princely state sparked the first two of three wars between India and Pakistan after independence. They fought a second in 1965, and a third, largely over what became Bangladesh, in 1971.
A UN-monitored ceasefire line agreed in 1972, called the Line of Control (LOC), splits Kashmir into two areas — one administered by India, one by Pakistan. Their armies have for decades faced off over the LOC. In 1999, the two were involved in a battle along the LOC that some analysts called an undeclared war. Their forces exchanged regular gunfire over the LOC until a truce in late 2003, which has largely held since.
India accuses Pakistan of backing a separatist insurgency in its portion of Kashmir that began in 1989, in particular by arming and training fighters. Pakistan denies this, saying it only offers political support to the Kashmiri people.
Pakistan issues drought alert for multiple regions due to scarce rainfall
- Rainfall was 40 percent lower than normal across Pakistan from Sept. 1, 2024, to Jan. 15, 2025
- In Sindh, rainfall was 52 percent lower than normal, Balochistan 45 percent, Punjab 42 percent
ISLAMABAD: The Pakistan Meteorological Department (PMD) has issued a drought alert for several parts of the country, warning of worsening conditions due to below-normal rainfall and rising temperatures, state-run APP reported on Wednesday.
Pakistan has the fourth-highest rate of water consumption in the world. The country’s agriculture sector uses the most amount of fresh water than any other sector. Rainfall has steadily declined over the past few decades and experts have been warning for years the country will approach “absolute scarcity” of water by 2025.
According to the PMD advisory, which followed one issued on Dec. 9, rainfall from Sept. 1, 2024, to Jan. 15, 2025, was 40 percent below normal across Pakistan, with Sindh, Balochistan, and Punjab being the most affected provinces where rainfall deficits of 52 percent, 45 percent, and 42 percent respectively have been recorded.
“The drought is particularly affecting rain-fed areas,” APP said. “Drought conditions are likely to aggravate in the coming months due to limited rainfall and above-normal temperatures, which may lead to moderate drought in some regions. Flash droughts are also anticipated.”
The advisory said in Punjab province, mild drought conditions had been observed in Attock, Chakwal, Rawalpindi/Islamabad, Bhakkar, Layyah, Multan, Rajanpur, Bahawalnagar, Bahawalpur, Faisalabad, Sargodha, Khushab, Mianwali, and Dera Ghazi Khan.
Sindh province was experiencing similar conditions in Ghotki, Jacobabad, Larkana, Sukkur, Karachi, Hyderabad, and Tharparkar, while in Balochistan, affected areas included Ormara, Kharan, Turbat, Panjgur, Lasbela, Dalbandin, and adjacent regions.
The results of the latest census in 2023 counted 241.49 million people across Pakistan with a growth rate of 2.55 percent. Linked to that, per capita water availability has been on a downward trend for decades.
In 1947, when Pakistan was created, the figure stood at about 5,000 cubic meters per person, according to the World Bank. Today it is 1,000 cubic meters. It will decline further with the population expected to double in the next 50 years, climate change experts say, pointing out that Pakistan needs intervention on a range of water-related issues: from the impact of climate change to hydropower, from transboundary water-sharing to irrigated and rain-fed agriculture, and from drinking water to sanitation.
Pakistan finmin, Saudi National Bank chairman discuss financial cooperation, banking sector partnerships
- Muhammad Aurangzeb meets SNB chairman at sidelines of World Economic Forum summit in Davos
- Pakistan’s finmin meets Egypt’s planning minister, discusses ongoing projects between two countries
ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb met Saudi National Bank Chairman Saeed bin Mohammed Al-Ghamdi on Tuesday to discuss financial cooperation and strengthening banking sector partnerships between the two countries, Pakistan’s finance ministry said.
The meeting between the two officials took place during the sidelines of the World Economic Forum (WEF) summit in Davos, which will be held till Jan. 24 under the theme: ‘Collaboration for the Intelligent Age’.
Pakistan and Saudi Arabia are close regional partners and economic allies, with both countries signing 34 agreements worth $2.8 billion in October 2024.
“The two leaders discussed potential financial cooperation between Pakistan and Saudi Arabia, particularly focusing on strengthening partnerships in the banking sector,” the finance ministry said in a statement.
Aurangzeb briefed Ghamdi about Pakistan’s economic progress and the improvements made by the South Asian nation in its international financial rankings.
“Both sides expressed their commitment to further deepen economic ties for mutual benefit,” the ministry said.
Meanwhile, the Saudi Export-Import Bank and Pakistan’s Bank Alfalah also signed a $15 million financing agreement, strengthening access to Pakistani markets and boosting trade and economic ties.
Separately, Aurangzeb also met Egyptian Minister of Planning, Dr. Rania Al-Mashat at the sidelines of the summit. The two ministers discussed ongoing programs and projects between Pakistan and Egypt, the finance ministry said.
“The two ministers agreed to continue discussions on economy and finance and learn from each other’s experiences,” the statement said.
