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Kemi Badenoch to launch ‘Get Britain Drilling’ campaign amid living cost hikes

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Kemi Badenoch to launch ‘Get Britain Drilling’ campaign amid living cost hikes



Kemi Badenoch is to launch a campaign calling for Britain to maximise the use of its oil and gas reserves.

The Conservatives will put a “Get Britain Drilling” campaign at the heart of their proposals for bringing down the spike in energy prices caused by the war in the Middle East.

Iran’s blockade of the Strait of Hormuz has led to a drastic rise in oil prices across the globe.

Tory leader Mrs Badenoch and her party initially called for Britain to join America and Israel in their war against Iran.

They have since turned their focus to calling for the UK to tap its oil and gas stores to beat price rises, though ministers argue the internationally set price will not be impacted by such action.

Now, Mrs Badenoch will launch a three-point plan to “get Britain drilling” which includes an end to the moratorium on new oil and gas licences, ditching the windfall tax on energy profits, and more financial support for the fossil fuels industry.

Launching the campaign, the Opposition leader said: “Labour’s ban on new oil and gas drilling licences was stupid when they put it in their manifesto, in the middle of an energy crisis it’s completely crazy.

“Drilling our own oil and gas is about energy security, it’s about financial security, it’s about national security.

“It’s more jobs, good for business and provides tax revenues that could be used to bring down bills.”

At Prime Minister’s Questions this week, Mrs Badenoch pressed Sir Keir Starmer to approve new licences for drilling in the North Sea, including at the Rosebank and Jackdaw sites.

Sir Keir insisted this is for the Energy Secretary to decide.

The Tory leader claimed the Prime Minister’s reply showed he had “let the cat out of the bag”, adding: “The real reason Labour are refusing new licences is that Ed Miliband is now running the Government.

“We need to get Britain drilling.

“A strong economy relies on cheap, abundant energy.

“Only the Conservatives are serious about creating a stronger economy and a stronger country.”

Mrs Badenoch plans to visit an oil rig off Aberdeen on Monday as she launches the campaign.

The Conservative Party plans to announce further measures in the coming week, aimed at both bringing down living costs and energy bills for businesses.

But Tessa Khan, executive director of campaign group Uplift, said the Conservatives’ plan would do nothing to lower bills.

Pointing to research suggesting hundreds of North Sea licences granted under the previous government had produced just 36 days’ worth of gas, Ms Khan said Mrs Badenoch was “peddling a dangerous fantasy”.

She said: “Politicians who refuse to acknowledge the reality of the declining North Sea are endangering our security and economy. Not only that, they are betraying workers who need long-term, secure jobs – which will only now come from renewables, not some pipedream.

“This is vapid, political game playing at the expense of ordinary people.”

Energy minister Michael Shanks MP said: “Kemi Badenoch wanted to plunge Britain head first into war without a second’s thought about the consequences. She has proven herself completely unfit for high office throughout this crisis.

“Badenoch’s Conservative Party left families with rocketing energy bills – and they completely failed to deliver energy security across 14 years in power. Her own shadow energy secretary admitted that new licenses in the North Sea would not take a penny off bills.

“The Conservatives and Reform want to outsource Britain’s energy security to fossil fuel markets over which we have no control. Meanwhile Labour is bringing down bills next week and investing in clean, homegrown power to bring bills down for good.”



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Pakistan Petrol Crisis: Petrol shock, free rides & more: How is Pakistan dealing with Hormuz energy crisis – The Times of India

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Pakistan Petrol Crisis: Petrol shock, free rides & more: How is Pakistan dealing with Hormuz energy crisis – The Times of India


The Middle East crisis has stretched beyond the one month mark, sending ripples across the globe. While somes nations are hiking fuel prices, others are introducing other measures to cushion consumers from the impact while balancing energy reserves. Pakistan is no stranger to the ongoing energy volitality as the country imports almost 85% of its supplies through the Strait of Hormuz. Pakistan government has already raised petrol prices multiple times since the conflict began, with the last raise being on Friday. The sharp rise in fuel prices pushed the government to roll out emergency relief measures, including free public transport in key regions, as public anger spilled onto the streets. Authorities announced on Friday that commuters in Islamabad and Punjab will not have to pay fares on state-run transport for the next 30 days.

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‘Petrol, Diesel Crisis Developing Worldwide’: PM Modi Urges Unity Amid West Asia Conflict

Balancing Hormuz crisis and consumer interest

The decision follows widespread unrest after petrol prices were raised overnight by 42.7% to 485 rupees per litre, triggering protests and long queues at fuel stations. However, after public outrage, Pakistan’s PM Shehbaz Sharif later revised the hike, bringing petrol down to 378 rupees per litre. “This decrease will be applicable for at least one month,” he said during a televised address, adding, “I promise I will not rest until your life is back to normal.Coming to diesel prices, the government had increased HSD price by PKR 184.49 per litre, from PKR 335.86 to PKR 520.35, but abolished the levy, providing some relief to citizens.Detailing the relief measures, interior minister Mohsin Naqvi said, “All public transport in Islamabad will be made free of cost for the general public for the next 30 days, starting tomorrow (Saturday),” noting that the government would shoulder a cost of 350 million rupees.Punjab has mirrored the move, removing fares on public transport and introducing “targeted subsidies” for trucks and buses. CM Maryam Nawaz Sharif also appealed to transport operators not to shift the burden onto passengers, saying, “We promise to relieve the public of economic burden as soon as conditions improve.”In Karachi, similar steps have been taken by the Sindh government, which announced subsidies aimed at motorcyclists and small farmers.

Middle East tensions strain Pakistan

The developments come against the backdrop of rising global energy disruptions linked to the US-Israel war on Iran, which began on February 28. The conflict has led to retaliatory strikes across the Gulf and disrupted movement through the Strait of Hormuz, a vital route for energy supplies, particularly to Asia.To manage the strain, Pakistan has introduced a series of fuel-saving steps, including a four-day workweek for many government offices, extended school holidays and a shift to online classes in some cases.The economic pressure is being felt acutely in a country where about 25% of the population of 240 million lives in poverty, according to World Bank figures. Earlier in March, fuel prices had already been increased by 20 percent, with authorities initially resisting further hikes.Protests broke out on Friday in Lahore, where demonstrators called for the government to withdraw the increase. “The government, overnight, has dropped a ‘petrol bomb’ on its people,” said Naveed Ahmed, a 39-year-old protestor. “Our nation cannot bear this situation right now. This storm of inflation must be stopped, and relief should be provided to the public.”Hafiz Abdul Rauf, another protester, questioned the reasoning behind the hike, saying, “The rise we are seeing is not due to the (Iran) war, but to pressure from the IMF, pressure that must be resisted. For God’s sake, step back from these demands and show some compassion for the people.”The pressure is not limited to Pakistan. Bangladesh has also raised prices of liquefied petroleum gas and compressed natural gas by 29%. Meanwhile, the International Monetary Fund warned earlier this week that vulnerable economies face not only rising energy costs but also disruptions in supply chains. On March 28, it said it had reached an initial agreement with Pakistan on a $1.2-billion support package.



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PNB, Union & IDFC Bank see credit outpace deposit growth – The Times of India

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PNB, Union & IDFC Bank see credit outpace deposit growth – The Times of India


MUMBAI: Credit growth continued to outpace deposit mobilisation for Punjab National Bank, Union Bank of India and IDFC FIRST Bank at the end of the March quarter, reflecting sustained loan demand in a tight liquidity environment.Punjab National Bank reported global advances of Rs 12,61,420 crore as of March 31, 2026, up nearly 13% year-onyear, while global deposits rose 9.3% to Rs 17,11,476 crore. The bank’s total global business stood at Rs 29,72,896 crore, reflecting a 10.8% increase. Domestic advances grew 12.2% to Rs 11,95,811 crore and domestic deposits rose 9.2% to Rs 16,49,409 crore. The global credit-deposit ratio stood at 73.7% at the end of the quarter.Union Bank of India reported global advances of Rs 10,78,779 crore, marking a 9.8% year-on-year increase, while global deposits rose 2.7% to Rs 13,06,900 crore. Total global business stood at Rs 23,85,679 crore, up 5.8%. Growth was led by the retail, agriculture and MSME segments, where advances rose 12.6% to Rs 5,98,620 crore. Domestic CASA deposits increased 7.9% to Rs 4,59,988 crore, with the CASA ratio improving to 35.2%.IDFC FIRST Bank reported loans and advances of Rs 2,90,362 crore at the end of March, up 20% year-on-year, while customer deposits rose 17.2% to Rs 2,84,327 crore. The bank’s CASA ratio improved to 49.8% from 46.9% a year earlier. It said customer acquisition remained stable through March despite year-end tax outflows and tight system liquidity. It said asset quality stress in its microfinance portfolio has normalised, supporting further credit growth.



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PM Shehbaz reduces petrol price to Rs378 per litre – SUCH TV

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PM Shehbaz reduces petrol price to Rs378 per litre – SUCH TV


In a move aimed at providing relief to the public amid the Middle East crisis, Prime Minister Shehbaz Sharif on Friday reduced the petrol price to Rs378 per litre for a month and slashed the petroleum levy by Rs80 per litre.

 



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