Day: May 14, 2022

Fuel subsidy to cost govt Rs75bn over next fortnight

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petrol-price

The prices of petroleum products may increase by up to Rs86 per litre for the next fortnight — with no taxes included — in case the government decides to do away with the subsidy payable to oil companies as price differential claims (PDCs) under IMF conditions. IMF Resident Representative in Islamabad Esther Perez Ruiz said on Friday that an IMF team would start a staff mission on May 18 with the Pakistani authorities in Doha, Qatar. The IMF and the country’s economic team led by Finance Minister Miftah Ismail had…

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New govt buys LNG at 40pc higher prices

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Despite a large majority of cargoes imported at cheaper long term contracts, the basket price for imported Regasified Liquefied Natural Gas (RLNG) has surged 40 per cent to a record $22-24 per million British Thermal Unit (mmBtu) for May owing to a string of spot cargoes procured by the new coalition government in first month in office to meet energy shortages. In a notification issued on Friday, the Oil and Gas Regulatory Authority (Ogra) worked average sale price for Lahore-based SNGPL at $21.83 per mmBtu for May, up 40pc from…

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Government Of Pakistan Press Information Department Karachi

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Pakistan is going to be water scarce by 2025, therefore water need to be utilised economically: Federal Minister for Climate Change, Ms. Sherry Rehman. Karachi: Pakistan is going to be water scarce by 2025, therefore water has to be utilised economically, Federal Minister for Climate Change, Ms. Sherry Rehman. This she said while addressing to the ceremony of expedition indus held at Marina Club, Karachi saturday. She congratulated the team who travelled 45 days from stardu to Karachi through Indus River and Kharo Chann and ended in Karachi on rafts…

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