Pakistan Business & Finance News

Pakistan joins Gastech 2026 after 54-year absence

September 15, 2026 by Business Desk

BANGKOK: Pakistan has joined the global energy forum Gastech 2026 after a gap of 54 years, with a Pakistani company setting up a stall at the event for the first time in the forum’s history.

According to event organizers, the conference and exhibition is being held at the Bangkok International Trade and Exhibition Centre (BITEC) from Sept. 14 to 17.

United Gas Distribution Company (UGDC) is the first Pakistani company to establish a stall at Gastech during its 54-year history, organizers said.

Official Gastech figures show that about 7,000 delegates, 1,000 exhibitors and representatives from 150 countries are participating in the event. Organizers expect around 50,000 visitors to attend the conference and exhibition.

Speaking to Geo News in Bangkok, UGDC CEO Ghiyas Abdullah Paracha said the government’s policy of allocating 35% of gas to the private sector was an important step toward deregulation of the gas sector.

He said the company aims to attract foreign investment, establish direct business partnerships and develop private gas distribution networks to help reduce gas prices in Pakistan.

Gas distribution is currently handled by state-owned companies SNGPL and SSGC, but UGDC wants to establish private networks in partnership with U.S. and other international companies, Paracha said.

He said private-sector networks could reduce gas losses and provide consumers with cheaper gas. Private investment could also generate government revenue through taxes and transit fees while lowering overall energy costs, he added.

Pakistan’s Ambassador to Thailand Sadia Qazi visited the UGDC stall and described the Pakistani company’s participation in Gastech as an important milestone for the country’s business sector on the international stage.

Rising power, gas prices top Pakistanis’ concerns: Survey

September 14, 2026 by Business Desk

ISLAMABAD: Rising electricity and gas prices are the biggest concern for Pakistanis, followed by higher prices of everyday goods, unemployment and fuel costs, according to a new survey.

The Institute for Public Opinion Research (IPOR) released its latest survey, which found that 19% of respondents identified increases in electricity and gas prices as their biggest problem.

Another 17% said rising prices of daily-use items were a major source of concern, while 16% cited unemployment as one of the country’s key problems.

According to the survey, 10% of respondents identified rising petroleum prices as a major issue, while 7% pointed to a lack of access to health care facilities.

IPOR also highlighted challenges faced by the government in addressing public concerns.

The survey said about 43% of the government’s budget, amounting to more than 8 trillion rupees, goes toward debt-related expenses, leaving limited fiscal space to address public problems.

Pakistan issues brownfield refinery policy, paving way for $5b upgrades

September 12, 2026 by Business Desk

ISLAMABAD: Pakistan has issued its brownfield refinery policy, paving the way for refinery upgrade projects worth an estimated $5 billion.

Under the policy, refineries must sign upgrade agreements by Oct. 1. Failure to do so will result in a further reduction in the deemed duty on high-speed diesel.

If refineries fail to sign the agreements by Nov. 15, the deemed duty will be completely abolished, according to the policy.

The policy also requires refineries to maintain inventories equivalent to 20 days of imported crude oil and 15 days of locally produced crude.

Brent crude oil rises above $108 as regional tensions escalate

September 11, 2026 by Business Desk

DUBAI: Global oil prices rose on Friday as escalating tensions in the Middle East raised concerns about disruptions to crude supplies and shipping routes.

Brent crude futures rose $1.05, or about 1%, to $108.68 a barrel. U.S. West Texas Intermediate crude also gained 95 cents, or about 1%, to $103.45 a barrel.

According to Reuters, both major benchmarks were heading for their first weekly close above $100 a barrel since mid-May.

The increase came amid growing concerns that attacks on shipping routes could disrupt maritime activity in the region and lead to prolonged interruptions in oil supplies.

Both benchmarks had gained more than 6% on Thursday as tensions in the region intensified.

Diesel price jumps above Rs400 after latest increase

September 11, 2026 by Business Desk

ISLAMABAD: The federal government has once again increased the prices of petrol and diesel, with the price of diesel crossing Rs400 per liter.

Petrol prices have been increased by Rs5.02 per liter, taking the new price to Rs375.82 per liter.

The price of diesel has been raised by Rs5.28 per liter, bringing its new price to Rs403.32 per liter.

According to a notification issued by the government, the revised petrol and diesel prices will take effect from Sept. 12.

ECB raises key deposit rate to 2.5% as Middle East war clouds outlook

September 10, 2026 by Business Desk

FRANKFURT: The European Central Bank raised its key deposit rate by 25 basis points to 2.5% from 2.25% on Thursday, a move widely anticipated by financial markets as rising energy prices push inflation higher.

The decision comes as uncertainty surrounding the U.S.-Iran war and its impact on energy markets clouds the outlook for the ECB’s longer-term monetary policy. Investors are closely watching comments from policymakers for clues about the bank’s next steps.

The ECB projected that core inflation, which excludes energy and food prices, will average 2.5% in 2026, 2.6% in 2027 and 2.3% in 2028.

ECB President Christine Lagarde warned that the conflict in the Middle East, along with developments in Russia’s war against Ukraine, could keep headline inflation “well above target” for an extended period. The ECB’s inflation target is 2%.

Speaking at a news conference after the rate decision, Lagarde said the euro zone economy had shown “greater-than-expected resilience,” but warned that the energy price shock and global trade tensions continued to pose risks to economic growth.

“The outlook remains highly uncertain, with risks to the upside for inflation and to the downside for economic growth,” the ECB’s Governing Council said, pointing to a “broad range of outcomes” for growth and inflation depending on the duration and broader effects of the energy shock.

Markets had fully priced in the 25-basis-point increase ahead of Thursday’s meeting, according to LSEG data.

ECB officials have said since the U.S.-Iran war began that monetary policy decisions would be taken on a meeting-by-meeting basis.

The rate increase came days after data showed euro zone inflation accelerated to 3.3% in August, while energy inflation surged to 14.3%.

As a net energy importer, the euro zone has faced renewed inflationary pressure since the Middle East conflict disrupted concerns over commodity shipments through the Strait of Hormuz, sending oil prices sharply higher and increasing market volatility.

Government borrowing costs have also risen significantly in recent weeks, with European bond yields reaching multi-decade highs as escalating tensions in the Middle East prompted investors to anticipate stronger inflation and potentially higher interest rates.

The ECB faces a difficult policy balance as it seeks to contain inflation without further weakening economic growth amid elevated energy costs, trade tensions and geopolitical uncertainty.

NEPRA raises electricity tariff by 52 paisa per unit

September 9, 2026 by Business Desk

ISLAMABAD: National Electric Power Regulatory Authority (Nepra) has raised electricity prices by 52 paisa per unit under a quarterly adjustment, adding another burden on consumers.

Nepra issued the notification after receiving approval from the federal government, marking the second electricity price increase within a week.

According to the notification, the increase has been approved under the second quarterly adjustment of the current year. Consumers will bear an additional burden of 12.67 billion rupees.

The additional charge will be collected through electricity bills for September, October and November. Consumers will pay an extra 52 paisa per unit each month for three months.

The increase will apply nationwide, including consumers of K-Electric.

The latest increase comes days after Nepra announced a separate hike of Rs 2.06 per unit under the monthly adjustment on Sept. 4.

Brent crude surges above $100 as Middle East tensions escalate

September 9, 2026 by Business Desk

LONDON: Brent crude oil prices climbed above $100 a barrel on Wednesday as escalating tensions in the Middle East raised concerns over disruptions to oil supplies from the region.

According to Reuters, Brent crude futures rose $2.15, or 2.2%, to $100.07 a barrel, while U.S. West Texas Intermediate crude reached $94.73 a barrel.

Brent prices crossed the $100 threshold for the first time since July 24, reflecting growing concerns in global markets about the security of oil shipments from the Middle East.

Brent crude has gained about 25% since the beginning of last month, according to the report. The prolonged dispute between the United States and Iran has added to uncertainty in energy markets, with prospects for a lasting resolution appearing limited.

Analysts warned that oil prices could rise further if the conflict expands or major disruptions occur to oil transportation from the region.

The potential supply disruptions have increased pressure on global energy markets, raising concerns about higher fuel costs for consumers and businesses worldwide.

KP exempts former FATA, PATA industries from sales tax

September 8, 2026 by Business Desk

PESHAWAR: The Khyber Pakhtunkhwa government has exempted industries operating in the former Federally Administered Tribal Areas (FATA) and Provincially Administered Tribal Areas (PATA) from sales tax.

The Khyber Pakhtunkhwa Revenue Authority (KPRA) issued a notification outlining the conditions for the exemption.

According to the notification, the industrial unit must be established in a former FATA or PATA area to qualify for the sales tax exemption. The unit must also be registered as a withholding agent.

Services provided through virtual or remote means will not be covered by the sales tax exemption, the notification said.

The exemption may be withdrawn if the prescribed conditions are not met or if incorrect information is provided by an industrial unit.

The notification will take effect retrospectively from Aug. 1, 2026, and remain valid until June 30, 2028.

It also clarified that taxes paid before the exemption took effect will not be eligible for a refund or adjustment claim.

Federal govt raises petrol price by more than Rs12 per liter

September 7, 2026 by Business Desk

ISLAMABAD: The federal government has increased the prices of petrol and diesel, according to a notification issued Monday.

The price of petrol has been raised by Rs12.90 per liter, taking the new price to Rs358.77 per liter.

The price of high-speed diesel has increased by Rs3.72 per liter to Rs381.77 per liter, according to the notification.

The new prices will take effect Sept. 8.