Pakistan’s Minister of Petroleum, Ali Haider Zaidi, announced that the government will reduce fuel prices as soon as the situation improves. In a statement, he said that the prices of petroleum products will be reduced accordingly, and a weekly review of prices will be conducted. Zaidi stated that the decision to increase prices was made due to the current circumstances, and the government will take action against those who have been hoarding fuel.
The Minister also announced that the government is working to increase the storage of petroleum products in the country. After the closure of the Abqaiq oil field in Saudi Arabia, Pakistan is importing oil from other ports in the country. Pakistan Petroleum Limited’s two ships are bringing oil from Saudi Arabia’s other ports, and Saudi Aramco has stated that they will also deliver oil to Pakistan even if a larger ship is sent.
In other news, a corruption case has been filed against the former Chairman of the Karachi Port Trust (KPT), Ahmed Hyat, and the former General Manager, Syed Jamshed Zaidi. The case involves corruption worth billions of rupees. According to the Director General of the KPT, five officials and eight civilians were injured in an explosion at the port.
The government of Khyber Pakhtunkhwa has decided to take measures to conserve petroleum products. According to sources, schools and academies will adopt a hybrid system, and the use of public transport will be encouraged. The government has also proposed increasing the operating hours of the Orange Line, Metro Bus, and other public transportation services.
In a statement, Prime Minister Shehbaz Sharif directed the committee to submit recommendations within 48 hours that would reduce the burden on the public and prioritize public relief. The University of Karachi has announced that it will hold a semester break from March 16.
In a press conference, the Vice-Chancellor of the University of Karachi, Dr. Tahir Ashraf, said that the university condemns the attacks by the US and Israel on Iran. The University of Karachi has also decided to hold online classes in the morning. The meeting discussed the security situation created by the Iranian drone and missile attacks.
According to sources, the security situation in Iran is affecting the Suie North system. The CEO of Suie North, Suhail Bukhari, said that the facility is working to provide relief to the public. He added that 70% of the rations card holders are using them at the market.
The government of Punjab has announced that there is a sufficient stock of petroleum products in the province. They have asked the public not to panic over rumors.
The leader of the PPP, Raja Pervez Ashraf, said that the party rejects the proposal to increase the price of petrol to Rs. 55 per liter.
In a landmark judgment, a judge sentenced 47 advertising offenders to 10 years in prison and a fine of 5 million rupees. The judge, Amjad Ali Shah, stated that the convicts were involved in multiple terrorist activities and were wanted by the security forces.
In a statement, the Iranian military said that they did not attack countries that refused to allow US aircraft to use their airspace for attacks on Iran. The Israeli Defense Minister stated that the Lebanese government should follow their instructions before Israel takes further action. The UAE Ministry of Defense stated that their defense system had intercepted 15 ballistic missiles and 119 drones.
The ongoing conflict in the Middle East has forced UAE traders to sell gold at discounted rates.
