Salman Khan urges students to stay calm amid NEET protest

LAHORE: The Board of Directors of The Bank of Punjab (BOP) has approved a proposal for an equity injection of up to Rs30 billion by the Government of Punjab, a move aimed at strengthening the bank’s capital position and supporting its next phase of expansion. The decision was taken at a board meeting held on August 7, 2026. Under the proposal, the Punjab government will subscribe to ordinary shares to be issued by the bank through a mechanism other than a rights issue. The proposed transaction will not take effect immediately and remains conditional on obtaining all required statutory, corporate, shareholder and regulatory approvals. According to the bank, the planned capital injection is an important step in its broader transformation strategy and will provide additional financial capacity to support sustainable growth across its key business segments. Share issuance price The ordinary shares will initially be issued at Rs38.20 per share. However, if the market price of BOP shares is higher than this amount at the time of issuance, the shares will be issued at the prevailing market price plus a premium of 5 percent. As a result, Rs38.20 will serve as the minimum or floor price for the proposed share issuance. The transaction is expected to reinforce the bank’s capital base and provide greater flexibility to manage balance-sheet expansion while maintaining prudent financial and risk-management standards. BOP expands its market presence The Bank of Punjab has undergone significant changes in recent years, with the institution expanding its balance sheet, improving financial performance and strengthening its position across several sectors of Pakistan’s economy. The bank has developed a strong presence in areas including small and medium-sized enterprise (SME) financing, agricultural lending, affordable housing, digital banking and credit cards. It has also increased its focus on women’s participation and leadership in banking and financial services. BOP is further expanding its activities in commercial and corporate banking, particularly in areas linked to export-oriented businesses. The bank said these business segments have positioned it as an important participant in supporting economic activity, employment creation and financial inclusion across the country. Capital requirements rise with expansion Despite the bank’s growth, the rapid expansion of its operations has increased pressure on its existing capital base. BOP said its capital position has historically remained relatively limited compared with the size of its operations and the growth opportunities available to the institution. The proposed Rs30 billion injection is therefore expected to provide the bank with additional capacity to expand its core businesses while maintaining financial resilience. The additional capital could also enable BOP to increase its low-cost deposit base and grow lending operations without facing the same level of capital constraints. The bank said strengthening its capital position would allow it to pursue growth while maintaining a balanced and prudent approach to balance-sheet management. Strong financial performance The proposed capital injection comes as BOP continues to report strong underlying financial performance. During 2025, the bank recorded revenue growth of around 29 percent, while its earnings increased by more than 40 percent year on year. The bank also witnessed significant appreciation in the value of its shares during the period. According to the bank, the proposed capital raise should therefore be viewed primarily as growth capital rather than a measure aimed at addressing immediate financial weakness. The additional equity is expected to provide the financial foundation required for BOP to continue expanding its operations and investing in new business opportunities. International expansion in focus Another important component of the bank’s future strategy is its international expansion. The capital injection is expected to support the next phase of BOP’s growth, including an international venture that has recently received approval from the State Bank of Pakistan. The move could provide the bank with an opportunity to broaden its geographical footprint and develop new sources of business and revenue. With the proposed equity injection, BOP aims to strengthen its financial position, support expansion in priority sectors and improve its ability to serve businesses, consumers and other customers as demand for banking and financial services continues to grow.

LAHORE: Federal Petroleum Minister Ali Pervaiz Malik has indicated that consumers could receive some relief in petroleum prices within the next two days if international crude oil rates remain stable, while acknowledging that elevated fuel costs continue to place pressure on households and the wider economy. Speaking in Lahore, the petroleum minister said the government was closely monitoring developments in the international oil market and would take the prevailing global prices into account during the next petroleum price review. Malik explained that petroleum prices in Pakistan are linked to international market trends and are calculated on the basis of a seven-day average. He said the Oil and Gas Regulatory Authority (OGRA) is responsible for determining the prices under the existing mechanism. He added that the movement of global oil prices during the next couple of days would be particularly important in determining whether consumers could receive positive news in the upcoming review. Government averts fuel supply crisis The minister said Pakistan had managed to maintain uninterrupted supplies of petroleum products despite severe pressure created by regional tensions and volatility in international energy markets. According to Malik, Prime Minister Shehbaz Sharif and his team took measures on both the economic and diplomatic fronts to ensure that the country did not experience a fuel shortage. He said the government had continued supplying petroleum products across the country even during a period when uncertainty in the region was creating serious risks for energy-importing nations. “There was no shortage of petroleum products in Pakistan during the tension,” Malik said, stressing that maintaining fuel supplies remained one of the government’s key priorities. He acknowledged, however, that preventing a shortage did not eliminate the financial burden caused by high international oil prices. International oil market remains a major concern Malik said the recent regional conflict created extraordinary volatility in global energy markets. He pointed to sharp increases in crude oil, petrol and diesel prices during the period of heightened tensions. He said crude oil prices had at one stage climbed as high as $170 per barrel, while diesel prices reached around $280 and petrol prices also touched $170. The minister further referred to periods when market expectations pointed towards even more dramatic increases, with petrol and diesel prices moving towards levels of around $500. Such volatility, he said, demonstrated the difficulties faced by countries that rely heavily on imported energy to meet domestic requirements. Pakistan, being an energy-importing country, remains particularly vulnerable to sudden increases in international oil prices because changes in global rates can quickly affect domestic fuel prices, transportation expenses and industrial costs. Expensive fuel putting pressure on people The petroleum minister conceded that high fuel prices are creating difficulties for ordinary citizens and businesses. He said an increase in petroleum prices does not remain confined to fuel stations, as higher transportation and energy costs eventually affect the prices of goods and services throughout the economy. According to Malik, expensive petroleum products increase the cost of moving agricultural produce, industrial raw materials and finished goods, thereby adding to inflationary pressure. “The people are suffering” because petroleum products are expensive, he said, while maintaining that the government was making efforts to provide relief within its available financial capacity. Petroleum levy collection exceeds target Malik also disclosed that the government collected around Rs1,900 billion through the petroleum levy during the previous year, exceeding the official target of Rs1,700 billion. The collection represents an important source of government revenue, but the minister acknowledged the broader economic implications of relying on petroleum-related revenues while consumers are already facing high fuel costs. He said the government had to balance revenue requirements with the need to protect consumers from excessive increases in petroleum prices. Prices cut when conditions allowed The minister said the government reduced petroleum prices whenever international market conditions and other relevant factors created room for downward revisions. He said Prime Minister Shehbaz Sharif had ordered reductions when an agreement was reached and circumstances permitted the government to pass on the benefit to consumers. Malik said the administration was attempting to manage fuel prices within the limits imposed by international markets and domestic economic conditions. He also recalled the prime minister’s commitment to introducing greater transparency in the petroleum pricing mechanism. The minister said the government had been required to make difficult decisions as part of broader efforts to stabilise the economy and place Pakistan on a sustainable development path. Heavy reliance on imported energy questioned Malik also raised concerns over Pakistan’s longstanding dependence on imported energy. He questioned why the country had continued relying on overseas energy supplies for decades despite having significant potential for developing domestic oil and gas resources. The minister said Pakistan obtains around 90% of its energy requirements from foreign sources, leaving the economy exposed to fluctuations in global energy prices and geopolitical developments. He argued that reducing this dependence should be treated as a long-term national priority. According to Malik, Pakistan has promising gas resources in areas such as Waziristan and Balochistan, and greater efforts are required to explore, develop and utilise domestic reserves. He said increasing local production could eventually reduce pressure on the country’s import bill and provide greater protection against international price shocks. Focus shifts towards domestic energy development The minister said Pakistan could not continue responding to every international energy crisis after it had already occurred. Instead, he stressed the need for long-term investment in exploration, infrastructure and domestic energy production. He said the government wants to move the country away from a cycle in which international price increases immediately translate into domestic economic difficulties. Malik described development of local energy resources as an important component of Pakistan’s broader economic strategy. He said the government was working towards an environment in which energy availability could support industrial expansion, investment and economic growth. Major energy infrastructure initiative planned Malik also referred to a new infrastructure initiative, saying the prime minister and the field marshal had assigned a major internationally recognised company to undertake energy infrastructure work within a