Category: Popular News

Petrol price likely to rise for next 15 days

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New prices will be implemented once approved Petroleum prices in Pakistan are expected to rise by up to Rs5.50 per litre for the next 15 days, owing to an increase in global oil prices, sources revealed on Sunday. According to reports, the Oil Companies Advisory Council (OCAC) has completed a working paper based on recent international market trends.The Oil and Gas Regulatory Authority (OGRA) is expected to send its summary to the federal government today.The final decision will rest with Prime Minister Shehbaz Sharif, who will approve any changes to…

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Industrial Gas Demand Plunges Amid Price Hike, Raising Surplus LNG and Circular Debt Concerns

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Oil-and-Gas

ISLAMABAD: The Petroleum Division informed the National Assembly that gas consumption by industrial Captive Power Plants (CPPs) has sharply declined—by approximately 80% in the SNGPL network and 43% in SSGCL’s system—primarily due to increased gas tariffs and levies. This reduction, amounting to around 216 MMCFD, is expected to worsen as more CPPs transition to the national grid, raising fears of a growing surplus of re-gasified liquefied natural gas (RLNG) and further exacerbating the circular debt crisis. In a written reply to MNA Ali Muhammad, Minister of State for Petroleum Ali…

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Govt to Impose Rs77/litre Petroleum Levy on Furnace Oil from July 1 under IMF Agreement

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IMF-Oil

ISLAMABAD: The federal government is poised to levy a Petroleum Levy (PL) of Rs77 per litre (Rs82,077 per metric ton) on furnace oil starting July 1, 2025, as part of amendments to the Petroleum Levy Ordinance, 1961, introduced through the Finance Act 2025-26. This measure aligns with Pakistan’s commitments under the IMF’s Resilience and Sustainability Facility (RSF) programme. In addition to the PL, a Carbon Levy of Rs2.5 per litre (Rs2,665/MT) will also be imposed on furnace oil in FY2025-26, increasing to Rs5 per litre in FY2026-27. The agreement with…

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Sindh Presents Rs3.45 Trillion Budget for FY2025-26 Amid Opposition Uproar

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Sindh-BUDGET

KARACHI: Amid vociferous protests from opposition lawmakers, Sindh Chief Minister Syed Murad Ali Shah on Friday unveiled a Rs3.451 trillion deficit budget for the fiscal year 2025-26 — marking a 12.9% increase over last year’s outlay of Rs3.056 trillion. The budget includes a 12% salary increase for government employees in grades BS-1 to BS-16, a 10% raise for officers in BS-17 to BS-22, and an 8% hike in pensions. Lawmakers’ salaries are also set to align with those of other provincial assemblies starting July. Presenting what he termed a “relief-oriented”…

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Tel Aviv Hit by Iranian Missile Strikes

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telaviv attack

Central Tel Aviv was impacted by ballistic missiles fired from Iran on Friday, after Israel said it had detected dozens of missiles launched from Iran and was working to intercept them. Israeli paramedics said they were treating five injured people and Israeli officials urged people to take shelter. Israeli Defense Minister Israel Katz said Iran had “crossed a red line” by firing missiles at populated civilian areas in Israel. Supreme Leader Ayatollah Ali Khamenei earlier said Israel “should expect severe punishment” for Israel’s wide-ranging attack on the country’s nuclear program…

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