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A petition was filed on Monday in the Lahore High Court (LHC) challenging the recent petroleum. The petitioner argued the petroleum prices have decreased in the international market but it was different in Pakistan. The petition further added it was an act of exploitation and the federal government has increased suffering of the people instead of providing relief. Finance Minister Ishaq Dar on Sunday announced an increase of up to Rs35 in petroleum prices with an immediate effect as Pakistan is scrambling to meet the conditions of the International Monetary…

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Petrol and high speed diesel price up by rs 35/litre, Kerosene oil is now available at rs 189.83/litre and light diesel oil rs 187/litre n finance minister ishaq dar explains petrol prices in international market have increased by 11 per cent, recalls on Pm’s instructions petrol prices remained unchanged during the last four months n terms fiscal discipline vital for economic prosperity. The government has jacked up the prices of petrol and high speed diesel (HSD) by Rs 35/litre each owing to increase in the oil prices in international market…

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Commerce Ministry has been empowered to impose country or commodity specific conditions or restrictions for imports/ exports of goods under the B2B Barter Trade Mechanism, official sources told Business Recorder. Sharing the details, sources said that pursuant to the decision of the ECC/ Cabinet, Commerce Ministry issued SRO 484(1) 2022 and SRO 485(1)/2022 on April 1, 2022 whereby provisions with respect to barter trade had been incorporated into Import Policy Order (IPO) and Export Policy Order (EPO) thus providing a legal framework for carrying out trade transactions through barter mode. Only…

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Minister of Energy (Petroleum Division) Senator Dr Musadik Malik inaugurated gas transmission project in District Hafizabad. Special Assistant to Prime Minister on Interior and Legal Affairs Attaullah Tarar, former Member of National Assembly Saira Afzal Tarar, Shahid Hussain Bhatti and SNGPL Managing Director Ali J Hamdani were also present on the occasion. The project which is expected to benefit 57,000 consumers of 150 villages has been completed at a cost of Rs2.142 billion. Sui Northern Gas spent Rs1.609 billion while funding of Rs533 million was provided by the government. The…

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Petroleum prices would increase massively in the next fortnightly review, even without a spike in levy and sales tax, as the government aims to please the International Monetary Fund (IMF), The News learnt on Friday. Information gathered from the country’s oil sector showed that the massive depreciation of rupee against the dollar in the last two sessions would not reflect greatly in the review due on January 31, 2023, as the average exchange rate would come around Rs240. However, the fortnightly review due on February 15 would show sharp appreciation…

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