Pakistan faces severe electricity shortages due to disruptions in the Strait of Hormuz. The ongoing Middle East conflict has impacted energy supplies, leading to extended power outages for homes and industries. Businesses are struggling with up to eight hours of loadshedding daily. Pakistan relies heavily on Qatar for LNG imports, and supply issues are intensifying.

Ongoing disruptions to energy flows from the Gulf linked to the US-Iran war continue to unsettle global oil and gas markets, and a ceasefire in place for about a week has done little to improve the availability of cooking gas.

Austrian Chancellor Christian Stocker met Prime Minister Narendra Modi in Delhi, marking a significant step in bilateral ties. Discussions focused on enhancing cooperation in trade, technology, and renewable energy. Both leaders emphasized peace and global institutional reform, with MoUs exchanged to bolster partnerships in various sectors, including a new working holiday program.

The very large crude carrier Jaya, fully loaded with Iranian oil, is currently unloading its cargo at Paradip on India’s eastern coast. India is looking to quickly secure supplies ahead of a deadline set by the Donald Trump administration that expires over the weekend.

Pakistan may resort to fuel rationing at petrol pumps if the US-Iran conflict escalates, finance minister Muhammad Aurangzeb warned. While currently managing demand through price adjustments and targeted subsidies, the government acknowledges this approach’s limits. Disruptions to oil flows via the Strait of Hormuz, crucial for Pakistan’s imports, have already caused significant price hikes and…

Stock market today: Sensex and Nifty50 rallied strongly in trade on Wednesday after optimism surrounding renewed US-Iran peace talks led oil prices to drop. While Nifty50 went above 24,200, BSE Sensex rose over 1,200 points.