Year: 2023

LPG prices slashed by Rs37/kg for June

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Pakistan-LNG

ISLAMABAD: The government on Thursday lowered the prices of liquefied petroleum gas (LPG) by 15.88 percent or Rs37/kg for domestic and commercial consumers for June 2023 over the previous month. The decision comes after Saudi Aramco significantly reduced the prices of propane and butane, which Islamabad imports for local consumption. The revised price for a kilogram of LPG in June will be Rs197, down from Rs243/kg in May 2023. LPG is widely used in Pakistan for cooking purposes in areas where piped natural gas is not available, as well as…

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Pakistan exports record 90,000 tons of fuel oil in May

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oil-export

KARACHI: Pakistan shipped 90,000 tons of fuel oil in May 2023 to reduce a huge stock built up over the last several months amid low demand in the country, industry sources told The News on Thursday. Fuel oil exports reached 250,000 tons in the last three months (March to May), according to the sources, who foresee more exports in the coming days as the consumption of fuel oil has not seen any increase, thanks to an economic slowdown and cold/moderate weather, especially in central and north parts of the country.…

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Oil sales plunge by 40pc inMay amid economic slowdown

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Oil-gains

KARACHI: The month of May witnessed a staggering 40 percent decline in oil sales compared to the same period last year, as the country grapples with an economic slowdown and a surge in the volume of Iranian smuggled petroleum products flooding the market, industry data showed on Thursday. According to sales figures of oil marketing companies, the sale of petroleum products dropped to 1.30 million tons in the month of May compared to 2.17 million tons in the month of May last year. The sale of petroleum products, however, rose…

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K-Electric partners with Visa

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circular-debt-K-electric-ceo

KARACHI: K-Electric has partnered with Visa to work together for KE consumers by offering them to make digital payments of their utility bills, a statement said on Thursday. KE said it intended to bring convenience and value to their constituents. The company has signed a strategic partnership with Visa to enable the primarily through Visa’s digital payment solutions and partner bank mobile applications. According to details, Visa cardholders of the banks – HBL, Bank Alfalah, Meezan Bank, Standard Chartered Bank, and Easypaisa – with electricity bills of at least Rs1,000…

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PM aides appointed to Parco board

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Parco-board

ISLAMABAD: The government has appointed two independent directors to the board of Pak Arab Refinery Limited (Parco) in a dubious way that has raised eyebrows. Sources told The Express Tribune that the board of directors of Parco was reconstituted recently, though its term was going to expire in August 2023. The government has appointed Ahad Cheema, Adviser to the Prime Minister with the status of federal minister, as an independent director to the Parco board. Dr Jahanzeb, Special Assistant to the Prime Minister (SAPM) with the status of minister of…

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