Month: August 2021

The prices of petroleum products may go down by up to Rs5 per litre for the next fortnight if the calculations of the Oil & Gas Regulatory Authority (Ogra) are accepted by the government. However, a senior official told Dawn that the Ministry of Finance would oppose any reduction in prices to recoup some of the revenue loss it had allowed early this month through reduction in tax rates. A final decision would be announced by the finance ministry on Tuesday. Petroleum Division sources said the working paper on the prices of…

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The use of leaded petrol has been eradicated from the globe, a milestone that will prevent more than 1.2 million premature deaths and save world economies over $2.4 trillion annually, the UN Environment Programme (UNEP) said on Monday. Nearly a century after doctors first issued warnings about the toxic effects of leaded petrol, Algeria — the last country to use the fuel — exhausted its supplies last month, UNEP said, calling the news a landmark win in the fight for cleaner air. “The successful enforcement of the ban on leaded…

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The central government’s total debt has increased by 21.7 per cent to Rs38.7 trillion during the last two years with a major rise in domestic debt. The data released by the State Bank of Pakistan (SBP) on Monday showed that during the past couple of years, the government’s domestic and external debts stood at Rs38.69tr at the end of the fiscal FY21 compared to Rs31.78tr in FY19. The debts in FY20 were Rs35.1tr. The external debt (in terms of rupees) did not show much difference as it rose to Rs12.42tr…

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Pakistan Petroleum Limited (PPL)-led consortium has been awarded Offshore Block 5 in Abu Dhabi’s second competitive exploration block bid round. Offshore Block 5 covers an area of 6,223 square kilometers and is located 100 kilometers north east of Abu Dhabi city. Besides PPL, who is the Operator during the exploration phase, the consortium consists of three major Pakistani E&P companies: Oil and Gas Development Company Limited (OGDCL), Mari Petroleum Company Limited (MPCL) and Government Holdings (Private) Limited (GHPL). “As per the latest notice on PSX, the consortium comprising of PPL…

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The Makran division of Balochistan has been suffering from critical water and electricity shortages for more than a decade now. Unfortunately, calls for reform and refurbishment have fallen on deaf ears. The provincial government has remained oblivious of the problems that the residents of Gwadar face. On social media, Gwadar is often presented as a developed coastal town with all the latest facilities. However, that is far from reality. The display of pictures on social media only paints half the picture, the other half being that most of the town…

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