Day: October 31, 2024

Petrol price increased for next fortnight

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Petroleum-prices

ISLAMABAD: The federal government on Thursday announced petroleum products prices for the next fortnight, hiking petrol and high-speed diesel’s prices, ARY News reported. According to a notification issued here, the petrol price has been hiked by Rs 1.35 to Rs 248.38 per litre. The price of high-speed diesel has been fixed at Rs 255.14 per litre after an increase of Rs 3.85. Meanwhile, the prices of light diesel and Kerosene oil have been decreased. According to the notification, Kerosene oil will now be available at Rs 148.5 per litre after…

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OGRA notifies Rs 2.88/kg hike in LPG price for November

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OGRA

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has jacked up the per kilogram price by Rs 2.88 per kilogram Ra price hike for the month of November, impacting household and commercial consumers across Pakistan. This increase in LPG prices comes amid the ongoing volatility in energy markets. As per the new notification, LPG prices have increased by PKR 2.88 per kilogram, pushing the cost of LPG closer to a critical threshold for household budgets. The new price adjustment has led to a PKR 34.09 rise in the cost of…

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NA body on petroleum expresses serious concern over CSR fund misuse

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National-Assembly

ISLAMABAD: National Assembly Standing Committee on Petroleum Division on Thursday expressed serious concern over inadequate regulatory oversight that has led to the misuse of Corporate Social Responsibility (CSR) funds and the underutilization of the Production Bonus and Training Fund by exploration and production (E&P) companies. Chaired by MNA Syed Mustafa Mehmood, the Standing Committee convened to review the CSR initiatives by E&P companies. In a unanimous decision, the committee agreed to form a subcommittee to draft new guidelines aimed at improving the utilization of CSR funds, production bonuses, and training…

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Pakistan responds to Chinese ambassador’s ‘undiplomatic’ remarks: what led to this tense exchange?

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Ishaq Dar

As security concerns for Chinese nationals intensify, Pakistan’s Foreign Ministry urges a return to diplomatic norms in addressing sensitive issues with Beijing The Pakistan Foreign Ministry issued a rare statement addressing remarks made by Chinese Ambassador Jiang Zaidong during the high-profile “China at 75” conference held earlier this week in Islamabad. The Ministry’s spokesperson, Mumtaz Zahra Baloch, clarified that the ambassador’s public comments, emphasizing China’s intolerance of security lapses concerning its citizens working in Pakistan, did not align with the close and cooperative spirit traditionally marking Pakistan-China relations. Jiang’s warning,…

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NEPRA reserves decision on KE’s PKR247 million fuel cost relief proposal for September

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Power Division

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) held a public hearing on October 31, 2024, to review a petition by K-Electric (KE) for a provisional monthly fuel charge adjustment (FCA) for September 2024. If approved, the requested adjustment would provide an anticipated relief of PKR 247 million, which translates to a reduction of PKR 0.16 per unit for consumers in KE’s service area. Fuel charge adjustments, such as this one, reflect the varying global fuel prices used for electricity generation and changes in the generation mix. These adjustments are…

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