Category: Shortcode

Petroleum price hike shocks industry

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Petroleum-price

KARACHI: Trade and industry leaders have said that almost Rs20 per litre increase in high-speed diesel (HSD) and petrol prices would put an additional burden on the industries and general public at a time when they are already hard-pressed with up to Rs7.5 per unit power tariff hike amid unprecedented inflation. They said the industrial and general consumers will be feeling the pinch of high transportation costs as petrol and diesel prices have swelled to Rs272.95 and Rs273.40 per litre, respectively. Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Irfan…

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Six MoUs inked with China

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pak-China

ISLAMABAD: Pakistan and China, on Monday, signed six memorandums of understanding (MoUs) to further enhance bilateral cooperation and promote economic relations between the two countries during the visit of Vice-Premier He Lifeng. Under the 10–year celebrations of China-Pakistan Economic Corridor (CPEC), Pakistan and China have signed MoUs during a ceremony held at the Prime Minister’s Office after a meeting between Prime Minister Shehbaz and Chinese Vice-Premier Lifeng, who is on a three-day visit to Pakistan to mark 10 years of the multi-billion-dollar CPEC. The signing ceremony was witnessed by the…

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Govt has settled KE dispute, reduced circular debt: minister

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Power-voices

ISLAMABAD: The coalition government of Pakistan Muslim League-Nawaz (PML-N), on Monday, claimed that it settled Rs171 billion tariff differential claims of K-Electric (KE) besides reduction of Rs157billion in power circular debt in the last 15 months. Addressing a news conference here on Monday, Minister for Power Khurram Dastgir claimed that the government had added 5,063-MW electricity to the national grid during its tenure. “Around 1,980 megawatts from Thar Coal, 720 megawatts from Karot Hydropower project, 1,100 megawatts from K-3 nuclear power plant, and 1,263 megawatts from Haveli Bahadur Shah RLNG…

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Ogra hikes LPG prices by Rs24/kg

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price-cuts

ISLAMABAD: The government announced on Monday a 13.45 per cent or Rs23.9/kg increase in liquefied petroleum gas (LPG) prices for domestic and commercial consumers for August 2023 compared to the previous month. According to a notification issued by the Oil and Gas Regulatory Authority (Ogra), the price per kilogram of LPG would be raised to Rs201 in August, up from Rs177/kg in July 2023. LPG is widely used in Pakistan for cooking purposes in areas without access to piped natural gas, as well as for heating, power generation and automotive…

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OMAP calls out OGRA chief for favouring big OMCs

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fuel-oil

ISLAMABAD: The Oil Marketing Association of Pakistan (OMAP) on Monday criticised the Oil and Gas Regulatory Authority (OGRA) OGRA chairman for extending all out support to Oil Companies’ Advisory Council (OCAC) – forum of the big oil marketing companies. In a strongly worded letter to OGRA Chairman Masroor Khan, OMAP Chairman Tariq Wazir Ali pinpointed the deplorable attitude of the regulator’s chief towards the emerging OMCs in all vital issues, and his all the time support to OCAC. The letter was copied to Federal State Minister Musadik Malik and Secretary…

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