Pakistan cuts petrol price by Rs10 per liter

An employee of a gas station fills the tank of a motorbike in Karachi on July 16, 2021. (AFP/File)
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Updated 16 September 2024
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Pakistan cuts petrol price by Rs10 per liter

  • The South Asian country revises petroleum prices every fortnight
  • The latest cut likely to offer some relief to inflation-hit Pakistanis

ISLAMABAD: The Pakistani government has reduced the price of petrol by Rs10 per liter, the Finance Division said late Sunday.

Pakistan revises petroleum prices every fortnight. After the latest revision, petrol will now cost Rs249.10 per liter.

The government reduced the price of high-speed diesel by Rs13.06 to Rs249.69, according to the Finance Division notification.

“The Oil and Gas Regulatory Authority (OGRA) has worked out the consumer prices of petroleum products, based on the price variations in the international market,” the notification read.

In Pakistan, petrol is mostly used in private transport, small vehicles, rickshaws and two-wheelers, while any increase in the price of diesel is considered highly inflationary as it is mostly used to power heavy transport vehicles and particularly adds to the prices of vegetables and other eatables.

Similarly, the price of kerosene oil went down by Rs11.15 to Rs158.47, while that of light diesel oil was reduced by Rs12.12 to Rs141,93.

The new prices have already taken effect.


Erdogan conveys Turkiye’s solidarity to Pakistan PM amid crisis with India

Updated 7 sec ago
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Erdogan conveys Turkiye’s solidarity to Pakistan PM amid crisis with India

  • Erdogan tells Shehbaz Sharif he supports Pakistan’s “calm” policies amid crisis
  • Pakistan military says Indian strikes on Wednesday night killed 31, injured 57

ANKARA: Turkish President Tayyip Erdogan spoke by phone on Wednesday with Pakistan’s Prime Minister Shehbaz Sharif to convey his solidarity after India hit Pakistan and Pakistani Kashmir with missiles, the Turkish presidency said.

Pakistan, which has strong ties with Turkiye, said it had shot down five Indian aircraft and vowed to retaliate further, in the worst clash between the nuclear-armed neighbors in more than two decades.

During the call, Erdogan told Sharif that Turkiye supported what he called Pakistan’s “calm and restrained policies” in the crisis, his office said in a statement.

Erdogan also said he found “appropriate” Islamabad’s call for an investigation into a militant attack that triggered the crisis. The militants killed 26 people in Indian Kashmir in the attack on April 22. Pakistan denies Indian accusations that it was linked to the attack.

“Erdogan stated that Turkiye was ready to do what it can to prevent the tensions from escalating, and that his diplomatic contacts in that regard would continue,” it said.

Turkiye has previously condemned India’s attack and called on both sides to act with common sense. Turkiye’s Foreign Ministry said the latest military action by India created the risk of an “all-out war.”

Ankara also maintains cordial ties with India.


Pakistan blocks 16 Indian YouTube channels, 32 websites for spreading ‘propaganda’

Updated 1 min 41 sec ago
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Pakistan blocks 16 Indian YouTube channels, 32 websites for spreading ‘propaganda’

  • Pakistani telecom authority says action taken to “safeguard” national security
  • Development takes place after Indian strikes overnight killed 31 civilians in Pakistan

ISLAMABAD: The Pakistan Telecommunication Authority (PTA) said on Wednesday it has blocked 16 Indian YouTube channels and 32 Indian websites for spreading “anti-Pakistan propaganda” and disseminating false information following Indian military strikes inside Pakistani territory that killed 31 people.

The move, part of PTA’s move to combat disinformation, comes after a sharp military escalation between the nuclear-armed rivals. The Indian government said it struck nine Pakistani “terrorist infrastructure” sites on Wednesday night, alleging that they were involved in planning a deadly attack in Indian-administered Kashmir on April 22. The assault took place on the tourist hill station of Pahalgam in the part of Kashmir governed by India, with 26 men killed.

“The PTA has blocked 16 Indian YouTube news channels, 31 YouTube video links and 32 websites for disseminating false information and anti-Pakistan propaganda,” the authority said. 

“The blocked content was found to be spreading misleading and harmful narratives aimed at manipulating public perception and undermining national unity.”

The PTA said it had taken the action to “safeguard” national security and “protect” Pakistan’s digital ecosystem.

The authority said PTA is committed to maintaining a “safe, secure, and trustworthy” Internet environment for telecom users, adding that online content will continue to be actively monitored for material that threatens Pakistan’s national interests.

The development is a similar response to India blocking access to social media accounts of Pakistani actors and cricketers on May 3.

In April, India banned more than a dozen Pakistani YouTube channels for allegedly spreading “provocative” content following the April 22 attack. The banned platforms included the YouTube channels of Pakistani news outlets Dawn, Samaa TV, ARY News, Bol News, Raftar, Geo News and Suno News. 
 


Pakistan says India will ‘pay the price’ as death toll from strikes rises to 31 

Updated 11 min 44 sec ago
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Pakistan says India will ‘pay the price’ as death toll from strikes rises to 31 

  • Pakistan says India will ‘pay the price’ as death toll from strikes rises to 31 
  • Pakistan says India will ‘pay the price’ as death toll from strikes rises to 31 

ISLAMABAD: Prime Minister Shehbaz Sharif warned India on Wednesday that it would have to “pay the price” for launching missile strikes inside Pakistan’s territory that killed 31 civilians overnight, reiterating that Islamabad has the right to respond to India’s military aggression. 

Sharif’s statement followed the sharpest military escalation in more than two decades between the nuclear-armed rivals. The Indian government said it struck nine Pakistani “terrorist infrastructure” sites involved in planning a deadly attack in Indian-administered Kashmir on April 22. The assault took place on the tourist hill station of Pahalgam in the part of Kashmir governed by India, with 26 men killed.

The Pakistani military said six locations across its territory — Ahmedpur East, Muridke, Sialkot, Shakargarh in the eastern province of Punjab and Kotli and Muzaffarabad in Azad Kashmir — were targeted. Azad Kashmir is the part of the disputed Kashmir valley that is administered by Pakistan. In response, Pakistan military spokesperson Lt. Gen. Ahmed Sharif Chaudhry had said five Indian planes and one combat drone that had attacked Pakistan were shot down, naming three Rafales and an MiG-29 and Su-57 each.

Pakistan has vowed that it has the right to respond to India’s military strikes as per international law. Sharif said earlier on Wednesday that the country’s top national security body had authorized its armed forces to take “corresponding actions” in response to Indian strikes. 

“For the blatant mistake that India made last night, it will now have to pay the price,” Sharif said in his televised address to the nation. “Perhaps they thought that we would retreat, but they forgot that by the grace of Allah, this is a nation of brave people whose determination is made of steel.”

He termed it India’s “delusion” to think that its strikes could distract Pakistan from its war to eliminate “terrorism.”

“God willing, we will take this war [against ‘terrorism’] to its logical conclusion,” he added. 

The Pakistani prime minister said the India’s attack was “baseless and unjustified,” saying that Islamabad had offered India a neutral, transparent, and credible investigation into the Pahalgam attack. He noted that Islamabad’s offer was supported by the international community. 

However, India chose aggression, violating international law and global norms, he said. 

Pakistan’s foreign ministry earlier said it had summoned India’s Chargé d’Affaires “to receive Pakistan’s strong protest over the unprovoked Indian strikes.”
“The Indian side was warned that such reckless behavior poses a serious threat to regional peace and stability,” the foreign office said. 

DEATH TOLL SURGES TO 31

Speaking to reporters at a news conference, Pakistan military’s spokesperson Lt. Gen. Ahmed Sharif Chaudhry said the death toll from Indian attacks on Wednesday night have surged from 26 to 31 while 57 people have been injured.

“The main reason for the rise in the martyrs and number of injured is due to India’s unprovoked shelling at the Line of Control and ceasefire violations,” Chaudhary said. 
The military spokesperson warned that Pakistan’s quest for peace should never be mistaken for its weakness. 

“Because to protect its people, to protect its land, the armed forces of Pakistan will never compromise,” he said. 

Chaudhary concluded his press conference by assuring the masses that Pakistan’s armed forces would hold India accountable for casualties as a result of the Indian strikes. 

“TERRORIST CAMPS”

In New Delhi, two Indian military spokespersons told a briefing Indian forces had attacked facilities linked to militant groups Jaish-e-Mohammed and Lashkar-e-Taiba. Pakistani officials say India only hit civilian infrastructure.

The strikes targeted “terrorist camps” that served as recruitment centers, launchpads, and indoctrination centers, and housed weapons and training facilities, the Indian spokespersons said.

They said Indian forces used niche technology weapons and carefully chose warheads to avoid collateral damage to civilians and civilian infrastructure, but did not elaborate on the specifics or methods used in the strikes.

“Intelligence and monitoring of Pakistan-based terror modules showed that further attacks against India were impending, therefore it was necessary to take pre-emptive and precautionary strikes,” Indian Foreign Secretary Vikram Misri, the top official in its external affairs ministry, told the briefing.

The joint briefing by the Indian military and foreign ministry listed past attacks in India blamed on Pakistan, with Misri saying Pakistan had not done anything to “terrorist infrastructure” after the Pahalgam attack, which triggered the latest standoff. 

Pakistan had denied involvement in the attack and Prime Minister Shehbaz Sharif had offered to be part of any credible and transparent investigation.

Kashmir has been disputed between India and Pakistan since 1947. Both rule it in part and claim it in full and have fought two of their three wars over the Himalayan region. India accuses Pakistan of arming and training militants involved in a separatist insurgency in its part of Kashmir since 1989, which Islamabad denies, saying it offers only moral and diplomatic support to the Kashmiri people in their struggle for self-determination.

The current confrontation is reminiscent of the last major military standoff between the two nations in 2019, when an Indian airstrike in the northwestern town of Balakot was followed by Pakistani retaliatory action, including the downing of an Indian fighter jet and the capture of its pilot, who was later released in a gesture of goodwill.

On Wednesday morning, the South Asian neighbors also exchanged intense shelling and heavy gunfire across much of their de facto border called the Line of Control, which divides disputed Kashmir between them.

The shelling across the frontier in Kashmir killed 10 civilians and injured 48 in the Indian part of the region, police there told media. At least six people were killed on the Pakistani side, Reuters reported, quoting officials.

Four local government sources in Indian-administered Kashmir told Reuters three fighter jets had crashed in separate areas of the Himalayan region during the night. Indian defense ministry officials have not officially confirmed the report.

– With inputs from Reuters


Pakistan launches first Shariah-compliant ‘Green Sukuk’ to attract eco-friendly investment

Updated 07 May 2025
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Pakistan launches first Shariah-compliant ‘Green Sukuk’ to attract eco-friendly investment

  • Green Sukuk to fund renewable energy, clean transportation and climate-resilient projects, says finance ministry
  • Pakistan says will hold auction for inaugural Green Sukuk issue, ranging from $71.4 million to $107.1 million

KARACHI: Pakistan’s finance ministry announced the launch of its first ever “Green Sukuk” financial instrument on Wednesday, saying it was aimed at attracting investments in environmentally sustainable projects.

The Green Sukuk is a Shariah-compliant financial instrument specifically designed to fund environmentally sustainable projects such as renewable energy, clean transportation and climate-resilient infrastructure, the ministry said. By merging Islamic finance principles with environmental objectives, Green Sukuk provides a unique investment avenue that appeals to ethically minded investors, it added. 

“The Government of Pakistan is proud to announce a major milestone in the nation’s sustainable finance journey with the launch of its first Green Sukuk,” the ministry said. “The Green Sukuk marks a pivotal step in aligning Pakistan’s financial markets with global best practices in green financing.”

The ministry said an auction would be held for the Green Sukuk’s first issuance, with the total amount of funds to be raised expected to be between $71.4 million (Rs20 billion) and $107.1 million (Rs30 billion). The statement said the Pakistan Stock Exchange would play a role in promoting the instrument to investors.

The Green Sukuk program was prepared with the support of Pakistan’s Meezan Bank Limited, Bank Alfalah Limited, Dubai Islamic Bank Pakistan Limited and Bank Islami Pakistan Limited, it said. 

The finance ministry said the initiative was aligned with Pakistan’s Vision 2028 goal of transitioning toward an interest-free economy. The Green Sukuk would attract a “broader investor base, deepen our financial markets and accelerate the country’s transition” to a resilient economy, the statement said. 


Pakistan interior minister meets US envoy, conveys ‘serious concerns’ over India strikes

Updated 07 May 2025
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Pakistan interior minister meets US envoy, conveys ‘serious concerns’ over India strikes

  • Meeting takes place amid soaring tensions after India said it struck Pakistani sites that served as militant recruitment centers
  • Several countries including US, Turkiye, China, UAE, UK and others have called on both sides to show restraint, avoid escalation 

ISLAMABAD: Interior Minister Mohsin Naqvi met Acting US Ambassador Natalie Baker on Wednesday to convey his country’s “serious concerns” over India’s military strikes inside Pakistani territory and its implications for regional peace, state-run Associated Press of Pakistan (APP) said. 

Several countries have called for calm between India and Pakistan amid soaring tensions in South Asia, following Indian attacks on six locations inside Pakistan on Wednesday. Islamabad said Indian strikes killed at least 26 civilians and injured 46. In response, Pakistan claimed to have downed five Indian fighter jets and struck Indian military posts along the Line of Control. 

Naqvi met Baker in Islamabad to provide her a “comprehensive” briefing in the aftermath of the Indian strikes and evolving security situation in South Asia, APP reported. US Political Counselor Zachary Harkenrider and Pakistan’s Minister of State for Interior Tallal Chaudhry were part of the meeting. 

“During the meeting, Minister Naqvi gave a comprehensive briefing to the US delegation on the aftermath of the Indian aggression, expressing Pakistan’s serious concerns over the incident and its implications for regional peace,” APP said. 

Naqvi accused India of putting South Asia’s peace and stability at stake, APP said. He further stressed “India has torn apart regional harmony and by targeting civilians, it has blatantly violated international laws.”

Naqvi said Pakistan had acted responsibly and showed maximum restraint in the face of Indian provocation. 

“We gave a strong and appropriate response in defense of our homeland,” Naqvi was quoted as saying. “Pakistan will never allow any compromise on its national security.”

INTERNATIONAL REACTION

US President Donald Trump had reacted to the incident on Wednesday night, condemning the escalation, expressing hope that the fighting would end quickly.

“It’s a shame,” he said. “Just heard about it. I guess people knew something was going to happen based on a little bit of the past. They’ve been fighting for a long time. They’ve been fighting for many, many decades. I hope it ends very quickly.”

Meanwhile, US Secretary of State Marco Rubio said he was monitoring the situation closely and would continue to engage with the leadership of both countries for a “peaceful resolution.”

A Chinese foreign ministry spokesperson said India’s actions were “regrettable,” urging both countries to exercise restraint and refrain from further complicating the situation, Reuters reported.

United Arab Emirates Foreign Minister and Deputy Prime Minister Abdullah bin Zayed bin Sultan Al Nahyan called on Pakistan and India “to exercise restraint, de-escalate tensions, and avoid further escalation that could threaten regional and international peace,” Emirates News Agency-WAM reported.

Turkiye urged India and Pakistan to act with common sense amid the military escalation between them, its foreign ministry said on Wednesday, saying India’s latest military action created the risk of an “all-out war.”

In a statement, the ministry reiterated its support for Pakistan’s call for an investigation into a militant attack that killed 26 in the Indian-administered side of the Himalayan region on April 22.

The UK is ready to support both India and Pakistan to de-escalate tensions, Trade Secretary Jonathan Reynolds said on Wednesday, following the worst violence between the nuclear-armed arch-foes in two decades.

“Our message would be that we are a friend, a partner to both countries. We stand ready to support both countries. Both have a huge interest in regional stability, in dialogue, in de-escalation and anything we can do to support that, we are here and willing to do,” he told BBC radio.