Author: S.M. Inam

By S.M. Inam KARACHI: Passengers across Pakistan are facing a steep surge in airfares as jet fuel prices have skyrocketed, with overall ticket costs rising dramatically due to increased fuel surcharges despite base fares remaining unchanged. The price of jet fuel has seen a massive increase from Rs176 to Rs417 per liter, raising concerns that air travel is becoming increasingly unaffordable for many passengers. According to a Pakistan International Airlines (PIA) spokesperson, several airlines have increased fares by up to 100 percent through fuel surcharges, with all carriers making fuel-based adjustments to their pricing structures. PIA has imposed a $10…

By S.M. Inam KARACHI: The Pakistan Stock Exchange witnessed a negative trend on Thursday, with the benchmark KSE-100 index falling significantly during intraday trading. The index declined by 1,826 points, bringing it down to 156,487 points. During the session, the KSE-100 touched a low of 156,251 and a high of 157,571 points. A day earlier, the market had closed at 158,313 points, indicating a sharp drop in investor sentiment. #PSX #StockMarket #PakistanEconomy #KSE100 #MarketUpdate

By S.M. Inam KARACHI: All foreign airlines operating flights to Pakistan have been instructed to carry return fuel with them, following new directives issued by the Pakistan Airports Authority. According to a NOTAM issued in this regard, foreign carriers will be provided only limited quantities of fuel within Pakistan. Officials said that local airlines are being supplied fuel as per their full requirements. Airline sources reported that on Wednesday, a foreign airline flight from Karachi to Doha had to make a stop in Muscat for refuelling. Due to the need to carry extra fuel, foreign airlines are reportedly offloading passenger…

By SM Inam KARACHI: A vessel carrying liquefied petroleum gas (LPG) from Oman has reached Pakistan, but offloading has been delayed due to a technical fault at Port Qasim. According to sources, the ship arrived late Tuesday night with 3,800 metric tons of LPG intended for Sui Southern Gas Company as part of efforts to meet the country’s energy demand. However, unloading could not begin after a system malfunction halted operations, forcing the vessel to remain at the outer anchorage. Officials have not yet specified how long it will take to fix the issue. Meanwhile, another LPG shipment from Iraq…

By SM Inam KARACHI: The Pakistan Stock Exchange witnessed a strong positive trend on Wednesday, with the benchmark 100 Index rising by 1,837 points during trading. The index climbed to 155,803 points, after touching an intraday low of 155,291 and a high of 155,927. The rally came a day after the market closed at 153,966 points, indicating renewed investor confidence. Meanwhile, the Pakistani rupee showed slight stability in the interbank market, where the US dollar eased by one paisa to trade at Rs279.21, compared to the previous closing rate of Rs279.22. #PSX #StockMarket #PakistanEconomy #DollarRate #BusinessNews

By S.M. Inam KARACHI: A Pakistani oil tanker has successfully navigated the Strait of Hormuz after receiving special authorisation from Iranian authorities, in what analysts describe as a significant development for maritime trade amid heightened tensions in the Gulf . The Pakistan-flagged vessel, MT Karachi, is carrying more than 80 million litres of crude oil and is expected to dock at Karachi port imminently. The tanker travelled through a narrow channel between Iran’s Larak and Qeshm islands before continuing along the coast towards the Gulf of Oman . According to a Bloomberg report cited by multiple outlets, the vessel’s passage…

By S.M. Inam KARACHI: A fire broke out in the basement of a shopping mall on Tariq Road in Karachi, affecting two shops and filling the area with thick smoke. Rescue teams rushed to the scene as efforts to control the blaze continued. According to fire brigade officials, five fire tenders were deployed to extinguish the fire, while smoke was being cleared from the basement using special machines. Police officials said no casualties had been reported, but two firefighters, identified as Bilal and Sikandar, fell unconscious due to smoke inhalation. Authorities are working to fully contain the fire and ensure…

By S.M. Inam KARACHI: Cotton prices surged by Rs 500 per maund, reaching Rs 1,700 per maund, as the ongoing Middle East conflict disrupts imports and supply chains, according to Ehsan-ul-Haq, chairman of the Cotton Ginners Forum. The shortage of quality cotton, along with rising polyester prices, has contributed to the price spike. Haq explained that the suspension of cotton imports due to regional instability has led to increased demand and tighter availability in local markets. He warned that further escalation in the Middle East could continue to affect cotton supply and domestic prices. Meanwhile, global oil prices also saw…

By S.M. Inam KARACHI: Rising Middle East tensions have led to the cancellation of 47 flights from Pakistan to Qatar, Bahrain and Kuwait, disrupting travel operations across several major airports in the country. Despite the cancellations, a total of 213 flights to Middle Eastern destinations were scheduled from Pakistani airports on the day. According to flight schedules, Karachi Airport saw eight flights to the Middle East cancelled, while 53 flights continued to operate. At Lahore Airport, 16 flights were cancelled while 57 remained operational. From Islamabad Airport, 11 flights were cancelled and 64 were operating as scheduled. Meanwhile, five flights…

By S.M. Inam KARACHI: The government of Pakistan has increased the price of kerosene by Rs 39.20 per liter, setting the new rate at Rs 358.01 per liter. This move comes as part of adjustments in the energy sector amid ongoing economic challenges. The federal government has decided to maintain the petroleum levy on petrol and diesel, keeping it at Rs 105.37 per liter for petrol and Rs 55.24 per liter for diesel. The Ministry of Energy stated that by keeping petrol and diesel prices steady, the government will provide a subsidy of Rs 23 billion. According to the ministry,…