Gold price in Pakistan rises by Rs1,700 per tola

The federal government has announced a fresh revision in petroleum prices, increasing the cost of petrol while providing a slight reduction in the price of high-speed diesel. According to a notification issued by the Petroleum Division, the revised fuel prices came into effect on August 6 as part of the government’s regular fortnightly price adjustment mechanism, which is based on fluctuations in international oil markets and the exchange rate. Under the latest revision, the price of petrol has been increased by Rs4.45 per litre, taking the new retail price to Rs333.10 per litre. In contrast, the price of high-speed diesel (HSD) has been reduced by Rs2.00 per litre, bringing its new retail price down to Rs383.86 per litre. The increase in petrol prices is expected to affect millions of private vehicle owners, motorcycle riders and commuters across the country, as petrol is the primary fuel used in passenger transport. Meanwhile, the modest reduction in diesel prices may provide limited relief to the transport and agriculture sectors, where diesel is widely used for heavy vehicles, machinery and irrigation equipment. Petroleum prices in Pakistan are reviewed every two weeks, with adjustments reflecting movements in global crude oil prices, refined petroleum product premiums, freight costs and the rupee-dollar exchange rate. The government says the pricing mechanism is intended to align domestic fuel rates with international market trends while meeting fiscal commitments. The latest adjustment comes at a time when international oil markets remain volatile amid geopolitical developments and shifting global supply expectations. Analysts believe future fuel prices will continue to depend on global crude oil trends and currency movements.

Pakistan has taken a significant step towards developing its first indigenous lithium industry after the discovery of high-quality lithium reserves in Sindh’s Khairpur districtPakistan has taken a significant step towards developing its first indigenous lithium industry after the discovery of high-quality lithium reserves in Sindh’s Khairpur district, opening new opportunities for the country’s mineral and industrial sectors. In a major development, the Oil and Gas Development Company Limited (OGDCL) has entered into a strategic agreement with the Pakistan Institute of Nuclear Science and Technology (PINSTECH) to jointly develop technology for the commercial-scale extraction of lithium from geothermal brine. The collaboration follows the successful identification of high-grade lithium in samples collected from a well located in Khairpur. The discovery is being viewed as a breakthrough that could reduce Pakistan’s dependence on imported lithium while creating new investment and industrial opportunities. Under the agreement, OGDCL and PINSTECH will work together to design and develop advanced extraction technologies capable of recovering lithium efficiently from geothermal brine. The initiative is expected to pave the way for the establishment of a domestic lithium processing industry, supporting the growing global demand for the critical mineral. Lithium is considered one of the world’s most valuable strategic minerals due to its extensive use in rechargeable batteries for electric vehicles, mobile phones, laptops, renewable energy storage systems, and other advanced technologies. As global demand continues to rise, countries with commercially viable lithium resources are increasingly focusing on developing local production capabilities. Officials believe the partnership will strengthen Pakistan’s mineral exploration efforts, promote scientific research, and encourage technology-driven industrial development. The project is also expected to contribute to economic growth by attracting investment, generating employment opportunities, and enhancing the country’s position in the global critical minerals market.