Month: November 2024

Fuel Supply Crisis Looms Amid Lockdown Disruptions

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petroleum-products

ISLAMABAD: A severe fuel supply disruption has emerged as the lockdown imposed to counter the PTI march on the federal capital has crippled the transportation of petroleum products, particularly in Punjab and Islamabad. Government barricades on highways, motorways, and city roads have hampered the movement of oil tankers, forcing many to offload at the nearest pumps to mitigate safety risks. Private companies have also reduced fleet deployment, heightening the supply chain breakdown. Fuel shortages are already hitting major economic hubs, including Lahore, Rawalpindi, and Islamabad, as retail pumps run dry.…

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Pakistan, Belarus Forge Stronger Trade Ties with Eight MoUs

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Pakistan-Belarus

ISLAMABAD: Pakistan and Belarus signed eight Memorandums of Understanding (MoUs) and agreements on Monday, opening new avenues for collaboration in various sectors and boosting bilateral trade potential. The signing ceremony took place during the Pakistan-Belarus Business Forum, co-chaired by Commerce Minister Jam Kamal and Belarusian Energy Minister Aleksei Kushnarenko. These agreements precede the arrival of Belarus’s President in Islamabad. The MoUs include a five-year partnership between JCS Bellakt and Nutrifood & Pharmaceuticals and a product supply agreement between JSC Minsk Motor Plant and Shahzad Trade Links, effective in 2025. Agreements…

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Country needs New Law of OGRA to reflect ground realitiesPresident FPCCI

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FPCCI-Ogra

Karachi: Atif Ikram Sheikh, President FPCCI, has demanded that the country needs a new law for its Oil & Gas Regulatory Authority (OGRA) to reflect the ground realities of LPG supply chain in the country – and, make the regulatory environment facilitative, enabling and fair to all the stakeholders and consumers. Atif Ikram Sheikh elaborated that OGRA law does not include retailers and ends with the distributors; and, that is the reason that so many accidents are happening at the retail level. Distributors should also be bound law to by…

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Gold rates witness massive drop in Pakistan

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gold price

ISLAMABAD: The price of 24 karat per tola gold decreased further by Rs 4,300 and was sold at Rs 278,400 on Monday November 25, 2024 against its sale at Rs 182,700, All Sindh Sarafa Jewellers Association reported. The price of 10 grams of 24 karat gold also went down by Rs.3,657 to Rs.238,683 from Rs. 242,370 whereas that of 10 gram 22 karat gold decreased to Rs 218,793 from Rs 222,172. The price of per tola gold declined by Rs 50 to Rs 3,400 whereas that of ten gram silver…

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