Attock Refinery Limited (ARL) has become the first victim of smuggled petroleum products as the refinery on Monday shut down its main distillation unit, reducing its capacity to only 33%, owing to the piling up of unsold diesel stocks. Oil industry sources warned that other refineries were also likely to close their units if the unbridled smuggling of petroleum products was not stopped. Oil
The local auto industry has urged the new government to promptly implement measures to support the sector and restore investor confidence in Pakistan. “Currently, as many as 13 local brands are collectively producing over 40 models with a total capacity of 500,000 units per annum,” stated Abdul Rehman Aizaz, Chairman of the Pakistan Association of Automotive Parts & Accessories Manufacturers (P
Reputable international companies have expressed interest in Pakistan’s desire to outsource airport management and their representatives are expected to arrive this month to review and discuss the proposal. Sources told The Express Tribune that Prime Minister Shehbaz Sharif recently took up the airport outsourcing matter in a meeting of the cabinet so that those could be managed more effectivel
National Tariff Commission (NTC) Chairman Naeem Anwar has given assurances to businessmen that an NTC team in Islamabad will ponder over the issues highlighted by Karachi Chamber of Commerce and Industry (KCCI) and recommendations will be given to the government for rectifying them in the federal budget for 2024-25. Speaking at a meeting during his visit to the KCCI, he advised the chamber to s
Pakistan’s current account balance made history by hitting a nine-year high surplus of $619 million in March 2024. This reduced the cumulative current account deficit to $508 million in the first nine months of the fiscal year 2023-24. The country has maintained a surplus in the current account for the second consecutive month in March and for the third month in the fiscal year, enhancing the n