Category: Recent Post

KARACHI: Petrol sales hit an all-time high of 731,000 tonnes in May, up by 15 per cent over the same month last year, despite restricted movement of people due to early closure of markets by 6pm and long Eidul Fitr holidays. High-speed diesel (HSD) sales also remained brisk with 761,000 tonnes as compared to 688,000 tonnes in May 2020, up by 11pc. Furnace oil (FO) posted a 16pc growth to 168,000 tonnes from 145,000 tonnes in May 2020. As a result of growth in three major oils, the overall country’s…

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ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday called for reducing the expenditures for the security of oil and gas fields and expeditious clearance of a law to create a separate regulator for the petroleum upstream sector to encourage investments in the oil and gas exploration. The ECC meeting presided over by Finance Minister Shaukat Tarin also allowed revival of a virtual oil depot in Kohat for use by all the licenced oil marketing companies (OMCs) and sought third party validation of investment in Iraq by Pakistan…

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The National Electric Power Regulatory Authority (NEPRA) has lowered electricity prices for the month of April 2021 by Rs0.44 per unit under fuel price adjustment. NEPRA Chairman Tauseef H Farooqi announced this on Wednesday, saying: “A decline of Rs0.87 per unit was recommended for the month of April 2021, however, after deduction of dues amounting to Rs0.43 per unit, the decline in price stands at Rs0.44 per unit.” He said that an advantage of Rs4.40 billion has been conveyed to the masses through lowering the electricity charges. Earlier in the…

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Special Assistant to the Prime Minister (SAPM) on Climate Change Malik Amin Aslam on Wednesday announced that Prime Minister Imran Khan would announce four key “Ecosystem Restoration Initiatives” (ERI) on World Environment Day. The Prime Minister’s aide made the proclamation during a joint media interaction flanked by Special Representative of the Prime Minister on Religious Harmony Maulana Tahir Mehmood Ashrafi to apprise the journalist fraternity on celebrations to be held on World Environment Day 2021 as it was Pakistan’s honour to host global celebrations in recognition to its promising interventions…

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The Economic Advisory Council (EAC) on Monday agreed to keep the focus of coming budget on agriculture, export diversification, higher subsidy allocations and to extend construction sector tax amnesty until December 31 to maintain the growth momentum. The second meeting of the EAC presided over by Finance Minister Shaukat Tarin deliberated upon six out of 12 expert groups. The minister told the EAC that ultimate goal of these consultations was to spur growth and take it to around 6-7pc in a couple of years to make Pakistan a regionally competitive…

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