Author name: Web Desk

Pakistan State Oil Company Limited (PSO) has formally notified the Pakistan Stock Exchange (PSX) that its Board of Management has appointed Mr. Jawwad Ahmed Cheema as Chief Executive Officer for a three-year term, effective 18 May 2026. Read More: https://theboardroompk.com/psctf-delegation-visit-federation-of-pakistan-chambers-of-commerce-and-industry-in-karachi/ Cheema succeeds Abdus Sami, who serves as interim CEO. A distinguished C-suite executive, Cheema brings over 28 years of experience in the downstream energy sector, including nearly two decades in corporate leadership roles spanning five countries across Asia-Pacific, Europe, and South Asia. His career covers the full downstream value chain retail fuels, lubricants, storage infrastructure, supply chain management, strategy, and international portfolio management with a consistent thread of strategic transformation, business turnaround, and large-scale organisational change running through every assignment. The centerpiece of his career is a 26-year tenure with Royal Dutch Shell, one of the world’s largest energy majors, during which he rose from frontline retail operations in Pakistan to the most senior levels of Shell’s global leadership, progressing through Indonesia, Singapore, the Netherlands, and the United Kingdom each assignment representing a substantive expansion of scope, complexity, and accountability. As Managing Director and CEO of Shell Pakistan Limited, he successfully steered one of the country’s most prominent publicly listed energy companies through a period of significant strategic and operational transformation in one of the region’s most complex and fast-evolving energy markets. In subsequent international roles, Mr. Cheema served as Vice President of Strategy & Portfolio at Shell International B.V. in The Hague, where he directed global downstream infrastructure portfolio strategy across multiple continents, delivering significant enterprise value through network optimisation, asset rationalisation, and supply chain reconfiguration. As Vice President of Shell Business Operations in Singapore, he transformed Shell’s global business process outsourcing function, driving large-scale workforce expansion and operational consolidation across a global network. Earlier, as Strategy & Management Consultancy Manager, he led business turnarounds, divestments, new market entries, and integrated downstream reviews across Asia-Pacific. Mr. Cheema’s expertise also extends to high-growth market entries, most notably as General Manager leading Shell’s end-to-end retail fuels entry into Indonesia a complex, fast-growing emerging market. Most recently, he served as CEO of Karachi Hydrocarbon Terminal (KHT), a strategic joint venture under the VTTI B.V. portfolio, managing Pakistan’s primary petroleum import and distribution terminal at Port Qasim. Beyond executive leadership, Mr. Cheema has exercised significant governance authority as Chairman of the Board of Shell Pakistan Limited and as a Director on the boards of Pakistan Refinery Limited (PRL) and Pakistan Arab Pipeline Company (PAPCO) the most strategically significant nodes of Pakistan’s downstream infrastructure. With a rare combination of commercial sharpness, strategic clarity, and the operational discipline to execute at scale in complex, regulated, and politically sensitive energy environments, Mr. Cheema stands as a leader shaped by the most rigorous global standards and deeply rooted in the realities of Pakistan’s energy landscape.

KARACHI: Sri Lanka’s FitsAir has officially entered Pakistan’s aviation market, launching its first direct flight between Colombo and Lahore, aviation officials confirmed. Read More: https://theboardroompk.com/bingx-futures-grid-expands-to-gold-silver-and-oil-bringing-automated-precision-to-macro-trading/ The inaugural flight, 8D-981, touched down at Allama Iqbal International Airport on Saturday evening at 8:35 p.m., carrying 134 passengers and marking the airline’s debut in the country. The new route is expected to improve travel links and provide more convenient options between Pakistan and Sri Lanka. Passengers were warmly welcomed upon arrival with flowers, while airport authorities organized a celebratory cake-cutting ceremony to mark the occasion. The return flight, 8D-982, later departed for Colombo at 9:40 p.m. with 66 passengers on board. Pakistan and Sri Lanka have maintained strong diplomatic and economic relations since their early years of independence, collaborating in areas such as trade, defense, and regional cooperation. Pakistan was among the first nations to recognize Sri Lanka and has consistently supported it, including during challenging periods like its civil conflict. Both countries are members of the South Asian Association for Regional Cooperation (SAARC) and continue to align on regional stability and economic collaboration. Their partnership is further strengthened by a free trade agreement signed in 2005, promoting exchange in sectors like textiles, tea, rice, and pharmaceuticals. In recent years, both nations have aimed to deepen ties in aviation, tourism, and education, with enhanced air connectivity playing a vital role in boosting business and people-to-people engagement between the two economies.

Pakistan government slashed petroleum prices on night between Friday and Saturday, with high-speed diesel cut by over Rs134.8 per liter and the petrol price by Rs11.8, as easing global oil pressures linked to a fragile Middle East ceasefire begin to filter into domestic fuel markets. Read More: https://theboardroompk.com/after-us-iran-successful-ceasefire-lebanon-seeks-pakistans-help-to-halt-israeli-strikes/ The Ministry of Energy (Petroleum Division) said the new prices will take effect from April 11, lowering high-speed diesel (HSD) to Rs385.54 per liter from Rs520.35, while petrol (motor spirit) was reduced to Rs366.58 from Rs378.41. FPCCI Welcomes Swift Rs 134.81 Reduction in Diesel Prices* *Calls it Indispensable for Export Competitiveness Karachi: Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has welcomed the federal government’s recent decision to slash high-speed diesel (HSD) prices by a massive Rs 134.81 per litre – as the apex body had strongly rejected the earlier disastrous increase on April 2 – and, profoundly advocated for the price rationalization of diesel and a protective mechanism for trade & industry. Atif Ikram Sheikh apprised that the apex trade body termed this steep reduction – bringing the HSD rate down from a crippling Rs 520.35 to Rs 385.54 per litre – a much-needed breather for trade, industry and the general public alike. FPCCI Chief also commended the Rs 11.83 per litre reduction in petrol prices (now at Rs 366.58) will provide supplementary relief across the supply chain – however, he maintained, FPCCI advocates further temporary reduction or suspension of Petroleum Development Levy (PDL) on petrol price until the regional oil markets stabilize. Mr. Atif Ikram Sheikh appreciated the government’s move, highlighting its positive ripple effect on the macroeconomy and the survival of Pakistan’s export-oriented sectors. When HSD crossed the Rs 520 mark, it threatened to stall our textile and manufacturing engines. Diesel is the backbone of our economy; directly fueling our transport; agriculture and manufacturing sectors, he added. Atif Ikram Sheikh explained that the relief will significantly reduce the exorbitant cost of doing business – potentially lowering production overheads by 5 – 10% for key industries and making our exports more competitive in the international market. We urge the government to maintain this momentum and cascade further global oil price benefits to the domestic industry as soon as possible. Mr. Saquib Fayyaz Magoon, SVP FPCCI, pointing out the immediate financial relief it provides to Small and Medium Enterprises (SMEs) – and, the national logistics infrastructure as a whole. Mr. Saquib Fayyaz Magoon pointed out that logistics and freight charges have been crippling the supply chain across the country – with transport fares having recently spiked by as much as 60% during the fuel crisis. Bringing diesel down to Rs 385.54 per litre shall force a necessary correction in the transportation costs of raw materials and finished goods, he added. Mr. Abdul Mohamin Khan, VP & Regional Chairman Sindh, emphasized the specific benefits for the province’s economic landscape – particularly for the agriculture and heavy local manufacturing sectors. Mr. Abdul Mohaim Khan elaborated that Sindh is a major hub of Pakistan for both industrial output and agricultural yields. The previous fuel shock made crop sowing increasingly unviable and threatened massive losses ahead of the harvest season. This Rs 134.81 per litre reduction shall lower the operational costs for our farmers utilizing diesel-powered tractors; and, irrigation pumps – as well as for industries relying on heavy logistics originating from the ports of Karachi.

NEW YORK: Israeli Prime Minister Benjamin Netanyahu has said that the war with Iran is not over and remains “unfinished business” as many of Israel’s objectives have not been achieved, according to a report in The New York Times. Following a Pakistan-brokered ceasefire that went into effect around April 7–8, 2026, he said in a televised address to Israeli public, that the “double existential threat” of Iran’s ballistic missiles and its nuclear programme has been “distanced,” he said, but not eliminated. The Times pointed out that his address was less about victory than unfinished business. “We still have goals to complete,” Netanyahu said, “and we will achieve them either by agreement or by the resumption of fighting.” He was speaking at the end of the deadliest day in Lebanon since the resumption of hostilities last month between Israel and Hezbollah fighters across Israel’s northern border. On Thursday, under international pressure to dial down the violence, Netanyahu said he had instructed his government to open talks with Lebanon “as soon as possible.” The negotiations would focus, he said, on establishing peaceful relations between Israel and Lebanon, and the disarmament of Hezbollah, which is also a significant political force in the country. Forty days after Israel and the United States launched their military offensive against Iran, life in Israel was getting back to normal, the Times said. “While Netanyahu and many other Israelis have praised the military’s accomplishments in downgrading their enemies’ capabilities, so far there have been no total victories or lasting diplomatic resolutions,” the Times commented. At the same time, it said, Netanyahu’s domestic political timetable is pressing, with elections due before the end of October.“914 days of war, over 2000 killed, tens of thousands wounded, 4 open fronts and — 0 decisive wins!” Avigdor Liberman, the leader of a right-wing Israeli opposition party, sniped on social media, tallying up the account on Israel’s side. The United States is now shifting its attention from the battlefield to negotiations with Iran. Israeli officials will not be in the room, adding to the sense of unease among the Israeli public. Israel and Pakistan, the mediating country that is hosting the talks, have no formal diplomatic relations. In the hours after President Trump announced the temporary cease-fire, the Israeli military bombarded Beirut and other areas and said it struck more than 100 Hezbollah targets within 10 minutes. More than 200 people were killed and more than 1,000 others were wounded in the strikes, according to the Lebanese authorities. “The timing may have been intended to demonstrate that Israel did not count Lebanon as part of the cease-fire understanding, or to get in a final salvo while it was still possible,” according to the Times. APP