ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) confirmed on Sunday it has advised oil marketing companies to maintain their mandatory 20-day stock levels, clarifying the country holds “sufficient stocks” of petroleum products as the Iran-Israel conflict intensifies. 

Local media outlets reported this week that Pakistani authorities have accelerated oil imports as the Iran-Israel conflict rages on. The conflict took a turn for the worse early Sunday after the US military struck three sites in Iran, inserting itself into Israel’s war aimed at destroying the country’s nuclear program in a risky gambit that could spark a wider regional conflict. 

Experts have warned of spiraling inflation and global oil supply constraints due to the ongoing Middle East conflict. Concern is focused on potential disruptions in the Strait of Hormuz, through which roughly one‑fifth of global oil transits, and weak supply growth from Iran, which produces about 3.3 million barrels per day. Analysts caution any sustained spike could drive up global freight rates, insurance premiums and inflation, particularly in energy‑importing countries like Pakistan.

“The Oil and Gas Regulatory Authority (OGRA) has confirmed that the country currently holds sufficient stocks of petroleum products to meet existing demand,” OGRA spokesperson Imran Ghaznavi said in a statement.

“However, in view of anticipated future requirements and the prevailing market situation, OGRA has formally advised all Oil Marketing Companies (OMCs) to ensure the maintenance of their mandatory 20-day stock levels, in line with the conditions stipulated in their respective licenses.”

The spokesperson said OGRA remains committed to monitoring the ongoing situation in the Middle East closely and will continue to take “proactive steps” to ensure national energy security.

Pakistan relies heavily on imported oil, meaning that any sustained spike in prices could widen its current account deficit and push inflation higher at a time when the country is struggling with low foreign reserves and slow growth.

The Israel-Iran conflict started on June 13 when Israel launched a massive wave of attacks targeting Iranian nuclear and military facilities but also hitting residential areas, sparking retaliation and fears of a broader regional conflict.

Over 400, mostly civilians have been killed in Iran so far, while Israel has reported 24 civilian deaths in retaliatory strikes by Tehran and over 1,200 injured. 

Pakistan has condemned Israel’s strikes against Iran and has called on world powers to intervene for an immediate ceasefire in the Middle East through dialogue and diplomacy. 

PESHAWAR: In a narrow alley in the heart of Peshawar’s walled city, the scent of dusty pages lingers in the air as visitors step into Chaka Gali, a book bazaar believed to be even older than Partition that continues to serve students and collectors with stacks of used and rare titles at prices few other markets can match.
Thought to have been there in some form before 1947, the market remains one of the oldest surviving second-hand book bazaars in Pakistan. Its tight street is lined with small, dimly lit shops where wooden shelves sag under the weight of textbooks, novels, encyclopedias and exam guides.
Some titles lie in neat piles. Others are scattered on the ground. Most have passed through many hands.
“Chaka Gali is more than 70 years old,” Abdul Jameel, a bookshop owner in his 50s, told Arab News. “You can see the houses [around]. They are almost older than the partition [of Pakistan and India].”
The market’s offerings cater to a wide range of interests. Textbooks for schoolchildren sit alongside Urdu and English fiction, MBBS manuals, CSS prep guides, and religious literature, all at steeply discounted prices.
“You can find any sort of book here,” Jameel continued. “If you need books for primary school for children [or] course books, they can be found here. If you need general English novels, they are also available. If you require Urdu novels, you can get them from here.”
The books, he said, come from multiple sources. Some are purchased from families clearing out private collections while others are supplied by scavengers who collect discarded books from homes and streets and resell them to vendors in the lane.
He identified Lahore’s famed Urdu Bazaar — a historic hub of Pakistan’s publishing trade — as the third source, noting that it supplies unsold or surplus books to dealers across the country.
Jameel said many of these brand-new but excess titles are passed on to vendors at reduced prices.
This benefits the market’s primary customers who come not for the love of books but because they have no other choice.
“The buyers mainly come from the lower class,” he said. “Those who can’t buy books for children [since they can’t afford them] come and take old books from us.”
Jameel said such buyers arrive in the lane “out of compulsion, not a passion for reading.”
“The craze for reading has almost ended,” he added.
Ismail Khan, another second-hand bookseller in his 30s, said he had worked in the market for 15 years.
He pointed out that the rise of digital learning and online reading has cut into sales, though physical books still hold emotional and practical value for many.
“The sales of old books has declined these days,” he noted. “If you see, many people read ebooks.”
However, he noted some readers prefer the tactile experience of a physical book and aren’t drawn to screens.
He also blamed the shrinking customer base on widespread financial hardship.
“A book that previously cost Rs100 is now available for Rs500,” he continued, adding that many people have lost the capacity to buy new books.
Hasir Mir, one of the regular visitors to the lane, said he is a pharmacy student who has relied on Chaka Gali for his academic needs since school.
“I have bought all books of Grade 8, 9 and 10 … from here,” he said. “One of the reasons is that the prices here are reasonable compared to other places.”
Beyond affordability, he observed, the market offers an unmatched range of books.
“I can easily find pharmacy-related books here,” he added. “If you are doing IT, ACCA or you are a student of any other field, you can find the books you want.”
For Mir and many others, Chaka Gali is more than just a marketplace — it’s a lifeline.
Visitors to the second-hand market say that in a country where inflation has turned books into a luxury, the lane quietly preserves the belief that knowledge should remain within reach — even if the pages are a little worn.