IMF expects supply-demand imbalances to wane in 2022, easing inflation

India on Thursday highlighted a high-level diplomatic push to protect Indian interests, emphasising the twin priorities of citizen safety and the stability of energy supply chains.

Speaking to journalists, Silveira said the country's fuel supply remains stable and the government is closely monitoring developments in the international oil market as well as domestic price movements.

"We reject this statement made by Pakistan on the matter. India's credentials regarding non-proliferation are impeccable and well recognised by the global community. A country with a well-documented history of clandestine nuclear proliferation can hardly preach the virtues of export controls and proliferation risks. Such ludicrous statements are nothing more than an attempt by Pakistan to distract from its own abysmal record," he said.

"India is a major exporter of petroleum products, especially to our neighbourhood. We have been supplying diesel to Bangladesh through waterways, rail and the India-Bangladesh Friendship Pipeline in partnership with Bangladesh Petroleum Corporation. Diesel exports to Bangladesh have continued since then," he said.

Pakistan faces a severe shortage of life-saving medicines, including cancer drugs and vaccines, due to government delays in notifying official prices. While global supply remains stable, regulatory hurdles have stalled legal imports, raising concerns over patient survival and the potential rise of unregulated, counterfeit medicines.

Pakistan's fruit and vegetable supply remains dominated by traditional middlemen and the "mandi" system, with digital platforms handling only 2-3% of trade. Restrictive provincial laws and lack of infrastructure force farmers into dependency on commission agents, stalling modern technological transformation in the agricultural sector.

An Indian crew member was killed after the US-owned tanker Safesea Vishnu was attacked near Basra, Iraq, on March 11. The Indian Embassy in Baghdad confirmed that 15 other Indian sailors were successfully evacuated and are receiving assistance as regional maritime tensions continue to escalate.

A US-Israeli attack struck an industrial area in Rabat Karim as regional conflict enters its thirteenth day. While an abandoned warehouse was one of the targets struck, Iran has set three conditions for peace. Meanwhile, the IRGC continues retaliatory strikes against US bases and tankers amid rising global oil prices.

Sources say Iranian authorities have decided to allow Indian flagged ship pass safely from the Strait of Hormuz.

Three crew members are feared trapped in a Thai-flagged vessel's engine room following an Iranian strike in the Strait of Hormuz. The attack is part of an intensifying IRGC blockade, where international ships are targeted by drones if they move "even a few metres" without permission.