Month: October 2021

Pakistan to Present Diverse Agenda at COP-26

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Pakistan is all set to have a diverse representation at the 26th Conference of the Parties (COP-26) in Glasgow where the key negotiations would open up with a debate on developing countries’ plight of bearing the brunt of environmental degradation caused by the developed countries, said Dr. Abid Qaiyum Suleri, Executive Director, Sustainable Development Policy Institute (SDPI). Dr. Suleri was addressing a pre-COP-26 briefing held here by SDPI. Dr. Suleri said that this year, the conference is going to have an extraordinary representation of civil society, parliamentarians, think tanks, and…

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OGDCL Posts Rs 33.630 Bln Profit In Q1 FY 2021-22

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Oil and Gas Development Company Limited (OGDCL) on Friday announced the financial results for the first quarter of the current fiscal year ended on September 30, posting a profit of Rs 33.630 billion. “Net sales revenue clocked at Rs 71.530 billion translating to profit after tax of Rs 33.630 billion and earnings of Rs7.82 per share,” the OGDCL said in a news release. The company’s board of Directors (BoD) announced first interim cash dividend to shareholders at the rate of Rs 1. 75 per share. The dividend would be paid…

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Consumers face petrol shortage at pumps before next week’s strike

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Petrol-pump

Consumers in Karachi, Islamabad and other cities have faced a shortage of petrol at some fuel stations, just two days after petroleum dealers announced that they would observe a nationwide strike the next week.All Pakistan Petroleum Dealers Association or APPDA, a body representing pump owners, is demanding a hike in dealers’ margin on the sale of petrol.On Tuesday, APPDA Chairman Abdul Sami Khan held a press conference in Islamabad to demand the increase. He said the pump owners’ expenditure, including salaries of the staff, had tripled due to inflation but…

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Petroleum Prices Likely to Rise by up to Rs8

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Petrol-Price

The government may increase petroleum prices by up to Rs8 per litre for the next 15 days if it decides not to increase existing tax rates. Informed sources said the government was still undecided if it should start jacking up petroleum levy with effect from November 1 or 16. Overwhelming consideration is that increase in levy should take place by mid-November to have controlled increase in prices as exchange rate had started coming down. On the basis of existing tax rates, import parity price and exchange rate, the Oil &…

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Chinese Coal Prices Plunge After Beijing Imposes Price Caps

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Having soared to an all time high as recently as one week ago, Chinese coal futures have lost nearly half of their value in the past seven days in a sequence of limit down days as Beijing unleashed its latest crackdown on a commodity it felt was mispriced despite urging energy firms to “secure supplies at any price” less than a month ago. There is, of course a perfectly simple, non-market driven reason for the plunge in prices: China ruthless authoritarians revealed a plan to impose limits on the price miners…

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