Year: 2021

At around 0540 hours GMT on March 23 last, a Panama-flagged 200,000-tonne 400-metre-long cargo container carrier MV Ever Given ran aground in the Suez Canal. It clogged one of the world’s busiest waterways. Longer than four football fields and wedged across the Egyptian-administered Canal, the vessel caused a traffic jam on both ends. The Ever Given, registered in Panama and operated by the shipping company Evergreen, was bound for the port city of Rotterdam in Netherlands. It commenced its sea voyage from China and was passing northwards through the Canal…

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The Oil and Gas Regulatory Authority has reduced the price of liquefied petroleum gas by Rs12.38 per kilogram, it announced Friday. A kilogram of LPG will now cost Rs133.25, according to a notification issued by Ogra.The price of an 11.8kg domestic cylinder has been reduced from Rs1,718 to Rs1,575. Related: Pakistan petroleum prices to remain unchanged for next 15 days. The price of a commercial cylinder has gone down to Rs6,055 from Rs6,612, it read. The revised prices will be effective from May 1.

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 Pakistan’s budget deficit has widened to Rs1.652 trillion in the first three quarters of the current fiscal year (July-March 2021), despite Rs413 billion budget surplus by the provinces, according to the Finance Ministry. A summary of consolidated federal and provincial fiscal operations for July-March 2021 uploaded by the Finance Ministry on its website, revealed that fiscal deficit as percentage of GDP increased to 3.6 percent of the GDP following total expenditure of Rs6.644 trillion against the total revenue of Rs4.992 trillion. Primary balance, however, was surplus Rs451.812 billion. The government…

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