Speaking about ongoing fuel supply concerns, Chaudhry said petrol pump owners have no authority to arrange fuel supplies beyond what is provided by oil companies.
He said the incentives, including duty-free machinery imports and a decade-long income tax holiday, are designed to encourage investment and accelerate industrial growth in the province.
The government has also announced that petroleum product prices will now be reviewed and determined on a daily basis.
JI Emir Hafiz Naeem-ur-Rehman also criticised the government's proposed move.
The increase will apply to consumers of all distribution companies
Anticipated price hike has reportedly triggered hoarding of diesel in some areas
An unusually sharp increase in petroleum sales during the first 15 days of July raised concerns about supply
The statement comes after Mufti Taqi declared crypto trading impermissible.
Privatisation deal includes overseas assets and planned additional investment.
Govt considers shifting to daily petroleum price adjustment mechanism
The committee reviewed various methods of determining petroleum prices in line with international market practices
Sources in the Petroleum Division said the government is expected to review the restrictions once Qatar's force majeure period ends.
Silver prices also moved lower in the domestic market
Mufti Usmani issued a fatwa in June declaring the purchase of goods with cryptocurrency impermissible under Islamic law (Shariah)
Following the latest revision, the new price of high-speed diesel has been set at Rs323.30 per litre, while petrol will now be available at Rs310.71 per litre.
It lowered its growth forecast for developing Asia and the Pacific to 4.9% for 2026 from 5.5% in 2025
Brent crude futures gained $3.14, or 4.23%, to $77.30 a barrel
He further announced that five additional aircraft would be added to the fleet this year, with a further five aircraft planned for induction annually in the coming years.
Malik further said that oil and gas exploration companies cannot be expected to continue their operations without receiving timely payments.
Pakistan imports around 70% of its petrol products and that refined petroleum products remain expensive in the international market
Petrol will now be sold at Rs297.53 per litre
Silver prices also moved up, rising by Rs319 to settle at Rs6,764 per tola
The SBP has issued a circular to banks and exchange companies across Pakistan, notifying them of the scheme’s termination.
It also requested permission to recover legal expenses through periodic tariff adjustments and to actualise expenditures based on audited accounts.
