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Stay informed with the latest developments in real estate, business, and investment trends across Pakistan and beyond. Chakor News delivers timely updates, expert insights, and market analysis to help you make informed decisions. Whether it’s project launches, economic shifts, or updates on regulatory changes, our news coverage keeps you ahead of the curve. Explore reliable stories, impactful headlines, and trusted reporting—only on Chakor News.

CategoriesEconomy News

Iran Weighs Yuan-Based Oil Transit Plan for Strait of Hormuz

TEHRAN/BEIJING: Iran is weighing a proposal to allow a limited number of oil tankers to transit the Strait of Hormuz, provided the associated cargo is traded exclusively in Chinese yuan, according to a senior Iranian official cited by CNN. 

The condition would mark a significant departure from the dollar-denominated conventions that govern the vast majority of global oil transactions. Iranian Foreign Minister Abbas Araghchi has confirmed that the strait remains open to international shipping, with the explicit exclusion of vessels linked to the United States and Israel.

The proposal aligns with Beijing’s longstanding objective of internationalising the yuan in global commodity markets. Approximately 45 per cent of China’s crude oil imports pass through the Strait of Hormuz, making uninterrupted access a strategic priority for the world’s second-largest economy.

For Tehran, the arrangement offers a means of circumventing US sanctions that have severely constrained its economy, while deepening financial ties with one of its principal oil importers and reducing dependence on the dollar-dominated financial system.

The Strait’s effective closure, following joint US-Israeli military operations that began on 28 February, has severely disrupted global energy markets. Brent crude surpassed $100 per barrel on 8 March, peaking at $126. Vessel traffic has declined by approximately 97 per cent since 2 March, with only ships from nations Iran considers friendly, including India, China, and Turkey, granted limited passage. 

US President Donald Trump has announced that the Navy will begin escorting oil tankers through the waterway and has claimed that American forces conducted strikes on Iran’s Kharg Island, the country’s primary oil export terminal.

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CategoriesNews Climate Change Weather

NDMA issues weather alert for hailstorms in upper Pakistan

ISLAMABAD: The National Disaster Management Authority (NDMA) issued a formal weather advisory on Friday, warning of widespread rain, strong winds, and thunderstorm activity across the upper regions of Pakistan from March 14 to March 16, 2026.

A westerly wave is expected to approach the northwestern regions on Saturday evening and persist through the early hours of Monday. A second western disturbance is forecast to affect western Pakistan by the night of March 17.

Areas likely to experience significant impact include Gilgit-Baltistan, Azad Jammu and Kashmir, Khyber Pakhtunkhwa, Rawalpindi, Lahore, Sialkot, and parts of Punjab, as well as Zhob, Barkhan, and Chaman in Balochistan. Isolated hailstorm activity is also anticipated during this period.

Daytime temperatures are expected to fall by 3 to 4 degrees Celsius in northern and upper regions. The authority has further warned of an elevated risk of landslides in upper Khyber Pakhtunkhwa, Gilgit-Baltistan, and Azad Jammu and Kashmir.

The NDMA has urged the public to seek shelter in sturdy buildings or vehicles during hailstorms, stay away from windows, and avoid driving under heavy hail due to reduced visibility and slippery road conditions. Tourists have been advised to refrain from non-essential travel to affected areas, while farmers have been directed to take appropriate measures to protect their crops.

The authority has called upon federal ministries, provincial governments, and local administrations to implement precautionary measures to safeguard public safety and minimise property damage during the forecast period.

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Fuel Crisis Looms
CategoriesNews Economy Mass Transit Transport

Post-Eid Fuel Crisis Looms as Dealers Threaten Nationwide Sales Halt

KARACHI: Pakistan’s petroleum dealers have issued a stern warning to the federal government, threatening to suspend the sale of petrol and diesel immediately after Eid al-Fitr if their longstanding demand for revised profit margins is not met.

The ultimatum was delivered by the leadership of the Pakistan Petroleum Dealers Association (PPDA) at a press conference held at the Karachi Press Club on Friday, March 13, 2026.

The PPDA has given the government until March 26 to increase dealers’ profit margins from the current 2.59 percent to 8 percent, a demand that has gained urgency in the wake of a steep Rs55-per-litre hike in petrol and diesel prices. At present, dealers earn approximately Rs8.64 per litre on fuel sales, a figure the association describes as wholly inadequate given the rising cost pressures on the sector.

Speaking at the press conference, PPDA leaders Abdul Sami Khan, Tariq Hasan, and Ameer Khan Masood argued that the combined effect of the petroleum levy and recent price increases has placed an unsustainable burden on both dealers and end consumers. The association further accused oil marketing companies (OMCs) of deliberately capping oil supplies to retail outlets, a practice it claims has led to fuel shortages at numerous pumps across the country.

The PPDA leadership also called for a formal government investigation into the conduct of OMCs, alleging that these companies have reaped significant inventory gains from profits on old fuel stocks, profits dealers say have come at the expense of those operating at the retail level.

This is not the first time dealers have raised these concerns. According to the PPDA, they have been pressing the government for upward margin revisions for over two years, with little to no response. Industry observers warn that a post-Eid strike, if carried out, could cause considerable disruption to fuel supply chains at a time when transport and economic activity typically surge.

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CategoriesNews Economy Entertainment Ramadan

Pakistan’s Eid Shopping Wave Sends a Strong Economic Signal

ISLAMABAD: As Pakistan joyfully enters the final days of Ramazan, vibrant and bustling markets across the country are painting an encouraging picture of economic resilience and renewed consumer confidence.

From the lively streets of Karachi to the colourful bazaars of Gilgit-Baltistan, late-night shoppers are flooding markets with remarkable enthusiasm, signalling a heartening revival in grassroots economic activity.

The festive shopping surge spanning traditional clothing, Kashmiri bangles, handcrafted footwear, and sparkling jewellery is delivering a powerful and welcome boost to Pakistan’s vast informal retail sector.

Hardworking vendors, skilled artisans, and dedicated small business owners are reaping the rewards of months of careful preparation, with sales climbing impressively after each evening’s iftar. This seasonal wave of spending is injecting vital and much-needed liquidity into millions of small and medium enterprises that proudly form the beating heart of Pakistan’s economy.

Economists and market observers view the extraordinary consumer turnout as a deeply encouraging indicator of household resilience. Despite navigating challenging economic conditions over the past few years, Pakistani families are demonstrating admirable determination to celebrate their traditions, sustain their communities, and support local businesses.

The strong footfall across both traditional bazaars and modern shopping malls reflects a pleasing and growing confidence among urban consumers, a confidence that bodes exceptionally well for economic momentum in the months ahead.

Particularly uplifting is the surging popularity of domestically crafted goods. The overwhelming demand for Kashmiri bangles, Peshawari chappals, and handwoven khussas is celebrating and empowering local artisans, strengthening cottage industries, and championing the rich cultural heritage of Pakistani craftsmanship.

The glowing, laughter-filled bazaars of Ramazan’s final nights beautifully capture the spirit of a nation that remains energetic, hopeful, and forward-looking. They stand as a shining testament to Pakistan’s enduring economic vitality and the unbreakable spirit of its people.

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CategoriesNews Economy

SBP Finalises Arrangements for Eid-ul-Fitr Currency Note Distribution

ISLAMABAD: The State Bank of Pakistan has issued a comprehensive advisory ahead of Eid-ul-Fitr 2026, urging citizens to use official banking channels to obtain new currency notes and to refrain from purchasing them from black-market vendors at inflated prices.

The central bank confirmed that arrangements for the distribution of freshly printed currency notes were finalised ahead of the festive season, with Eid expected around March 20. Citizens are encouraged to submit their requests well in advance to avoid last-minute difficulties.

The SBP has outlined several official methods for the public to obtain new notes. The primary channel is the bank’s dedicated SMS service on the short code 8877, which is activated during the second week of Ramadan. Citizens are required to send their CNIC number and preferred bank branch code to 8877, after which the system generates a unique transaction code along with the address of the designated branch.

Upon visiting the specified branch, citizens must present their original CNIC and a photocopy for verification. The SBP has explicitly stated that no additional charges or service fees are applicable during this process. In addition to branch services, many commercial banks load newer denomination notes, particularly Rs500 and Rs1,000 bills, into ATMs during the final ten days of Ramadan. SBP Banking Services Corporation offices in major cities, including Karachi, Lahore, and Islamabad, also distribute new notes on a first-come, first-served basis.

Despite the availability of official channels, a segment of the public continues to turn to open-market vendors for convenience or due to limited bank quotas. Authorities have flagged that traders are selling new notes at significantly inflated premiums and have called upon citizens to report such illegal activity to the relevant authorities.

The SBP has reaffirmed its commitment to ensuring smooth and equitable access to new currency notes for all citizens during the Eid festivities.

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CategoriesNews Climate Change Property Real Estate Urban Developments & Planning

CDA Launches Pre-Monsoon Plan to Prevent Urban Flooding in Islamabad

ISLAMABAD: The Capital Development Authority (CDA) has initiated a series of pre-monsoon measures to prevent urban flooding in Islamabad, following the severe flood damage the city experienced last year.

A high-level meeting chaired by CDA Chairman Muhammad Ali Randhawa brought together board members, senior engineers, environmental officials, and representatives of the Islamabad administration to formalize an emergency preparedness strategy ahead of the upcoming monsoon season.

Among the primary decisions taken was the removal of illegal encroachments along nullahs and streams, which have long obstructed the natural flow of water across the capital. Authorities also resolved to map all areas that experienced rainwater accumulation during last year’s flooding, particularly around Saidpur, the Sohan River, and Nullah Korang.

The Capital Emergency Service has been designated as the lead department during the monsoon period. In preparation, the department has already conducted water rescue training for its personnel in collaboration with Chinese experts and the Pakistan Navy. Staff have additionally been trained to respond to flash flooding scenarios. Specialised water rescue teams, each comprising 12 members, have been formed to handle emergencies.

Further measures include the establishment of a dedicated flood control room to facilitate inter-departmental coordination, the identification of low-lying and flood-prone areas across the city, and the deployment of an effective early warning system. Authorities have also been directed to ensure the availability of water pumps and dewatering equipment ahead of both the pre-monsoon and monsoon periods.

CDA Chairman Randhawa emphasised that thorough planning before the arrival of the monsoon season is essential and that pre-emptive measures must be guided by last year’s experience.

Islamabad has been increasingly affected by climate change in recent years, with urban flooding and extreme weather events posing growing challenges to the city’s infrastructure and residents.

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CategoriesNews Construction Developments Urban Developments & Planning

RDA Breaks Ground on Faizabad Interchange Slip Road Project

RAWALPINDI: The Rawalpindi Development Authority (RDA) has initiated construction work on a slip road rehabilitation project at Faizabad Interchange, marking a significant step toward alleviating persistent traffic congestion in one of the city’s busiest transit corridors.

The project, valued at Rs. 15.490 million, falls under the supervision of the RDA Engineering Directorate and was set in motion following directives from Rawalpindi Commissioner and RDA Director General, Engineer Aamir Khattak. The inauguration was presided over by Raja Hanif, Chairman of the Chief Minister’s Inspection Team, Punjab, and Provincial Assembly member for constituency PP-17.

Works outlined under the project include the repair and rehabilitation of the existing slip road surface, alongside the installation of informational signboards at designated points around the interchange. The signage is intended to streamline vehicular movement and reduce navigational confusion during peak hours.

Authority officials stated that upon completion, the infrastructure improvements will contribute to smoother traffic regulation at the interchange, providing tangible relief to the thousands of daily commuters passing through the area. The project is also seen as part of RDA’s wider mandate to modernize urban road infrastructure across Rawalpindi.

Faizabad Interchange, which serves as a critical junction connecting Rawalpindi and Islamabad, has long been a flashpoint for traffic bottlenecks, particularly during rush hours. Civic authorities have faced mounting pressure to address the interchange’s deteriorating road conditions and inadequate directional guidance for motorists.

Officials confirmed that work is progressing on schedule and expressed confidence in meeting the project’s completion timeline. The RDA further indicated that several additional development schemes targeting urban mobility are currently in the pipeline for the region.

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CategoriesNews Construction Developments Mass Transit Real Estate Transport Urban Developments & Planning

Swat Motorway Phase-II Construction Officially Underway

ISLAMABAD: The provincial government has commenced construction on Phase-II of the Swat Motorway, initiating a project expected to significantly improve road connectivity and boost tourism across the Swat Valley.

Officials confirmed the launch, describing it as a key milestone in the government’s broader push to modernize transportation infrastructure throughout Khyber Pakhtunkhwa. The Chief Minister stated that the motorway would ease travel across the region while generating new economic opportunities for local communities through increased visitor numbers and investment.

Authorities have linked the project to a wider provincial strategy aimed at reducing barriers to trade and development. Improved road access, officials noted, is expected to benefit multiple sectors, with tourism identified as a primary driver of anticipated growth.

The government has emphasized its commitment to quality construction and timely delivery. However, no specific completion date or project budget has been made public at this stage.

Local stakeholders have responded positively to the announcement, citing longstanding demand for reliable road infrastructure in the area. The motorway is expected to make the Swat Valley more accessible to both domestic and international visitors, strengthening its position as one of the province’s key tourism destinations.

Provincial authorities say construction will proceed under direct government supervision, with progress subject to ongoing review.

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CategoriesNews Economy Transport

Petrol Prices Soar by Rs55 Per Litre as Global Oil Shock Hits Pakistan

ISLAMABAD: Pakistan witnessed an unprecedented surge in petroleum prices after the federal government announced a massive Rs55-per-litre increase in both petrol and diesel.

The price of petrol has risen from Rs266.17 per litre to Rs321.17 per litre, while diesel now costs Rs335.86 per litre, up from Rs280.86 per litre. Officials say the decision was driven primarily by a sharp rise in global oil prices amid escalating tensions in the Middle East, particularly the ongoing conflict involving Iran.

International oil markets have reacted strongly to regional instability, with crude prices nearing $100 per barrel. As an oil-import dependent country, Pakistan remains highly vulnerable to fluctuations in global energy markets. A significant portion of the country’s oil imports passes through the Strait of Hormuz, a strategic maritime route that has been affected by the conflict.

The government has also revised the petroleum development levy (PDL) as part of the price adjustment. The levy on petrol has been increased by Rs20, bringing it to around Rs105 per litre, while the levy on diesel has been reduced by Rs20. Authorities argue that the adjustments were necessary to manage fiscal pressures and maintain revenue targets.

The announcement triggered widespread concern among citizens. Long queues were reported at petrol pumps in several cities as motorists rushed to purchase fuel before the new prices. The government is also reviewing potential fuel conservation measures, including remote work arrangements and online classes, though no immediate implementation has been announced.

Analysts warn that the sharp increase in fuel prices could further intensify inflationary pressures, affecting transportation costs, food prices, and overall economic stability in the coming weeks.

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China-Pakistan Economic Ties
CategoriesNews Economy Investment

China-Pakistan Economic Ties Deepen with Proposed $10B Aerospace Investment

ISLAMABAD: A Chinese aerospace investment group is considering a major investment between $5 billion and $10 billion in Pakistan, signaling growing international interest in the country’s industrial and technology sectors. The proposal was discussed during a meeting between the Federal Minister for Investment and the Chairman of the Board of Investment (BOI), Qaiser Ahmed Sheikh, and a delegation from China’s Aerospace Development Industry Investment Group Co.

The delegation was led by the company’s chairman, Lu Jinhai, who expressed the group’s interest in exploring large-scale investment opportunities across several key sectors of Pakistan’s economy. According to officials, the potential investment could cover areas such as mining and mineral development, advanced technology industries, and broader industrial expansion.

Government representatives highlighted Pakistan’s strategic advantages as an investment destination, emphasizing its geographic position connecting South Asia, Central Asia, and the Middle East. Officials also noted the country’s large domestic market of more than 240 million people and a young, growing workforce capable of supporting technology-driven industries.

During the meeting, both sides also discussed opportunities for collaboration in emerging sectors, including artificial intelligence, electric vehicles, drone technology, and renewable energy projects. Such investments, if finalized, could significantly contribute to Pakistan’s efforts to modernize its industrial base and strengthen its technological capabilities.

These programs would aim to train local workers and engineers in advanced technologies, helping build a more skilled workforce to support future industrial growth. The potential investment is also seen as aligning with broader regional economic initiatives, particularly those connected to China’s Belt and Road framework, which aims to expand infrastructure, trade, and connectivity across Asia and beyond.

Officials stated that discussions are still in early stages, but if realized, the proposed investment could mark one of the largest foreign commitments to Pakistan’s industrial and technology sectors in recent years, strengthening economic cooperation between the two countries.

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