Hafsa Mustafa Posted in Politics
Prime Minister Shehbaz Sharif has announced that the government intends to reduce petrol prices substantially after oil prices retreated following a US-Iran peace deal. "We had promised that we would bring the price of petroleum products down and repay each penny to the people," he said during his address to the National Assembly in Islamabad on Friday. Read More…
0 CommentsHafsa Mustafa Posted in Business
A petition was filed in the Lahore High Court (LHC), challenging the recent hike in prices of petroleum products. The petition has been filed by a citizen named Munir Ahmed through his lawyer Advocate Azhar Siddique. He stated that the federal government has jacked up the prices of petroleum products which would lead to a further rise in inflation. Read More…
0 CommentsHafsa Mustafa Posted in Business
Following a massive hike in petrol and diesel prices, the public transporters announced 10 per cent increase in intercity fares. In a statement issued by All-Pakistan Public Transport Owners Federation (APPTOF), the spokesperson said that the participants of the federation opined that a considerable increase in diesel prices would destroy the transport system across the country. Read More…
0 CommentsAlina Hashmi Posted in World
Washington: The International Monetary Fund (IMF) has warned against protests and instability in Pakistan amid rising inflation. "High food and fuel prices could prompt social protest and instability," the IMF said, in an executive summary of the seventh and eighth reviews, released under the Extended Fund Facility (EFF). Pakistan’s inflation measured by the consumer price index (CPI) has hit a 47-year high, accelerating to 27.3% in August 2022, the level last seen in May 1975. Read More…
0 CommentsAlina Hashmi Posted in Politics
On June 7, Finance Minister Miftah Ismail rubbished the rumours of a hike in petrol prices. He said that there would be no increase in prices today, adding that there was no plan or summary for this purpose. "In the pre-budget seminar, I never even spoke about petroleum prices. Channels running these tickers are doing a disservice to their viewers," he said, referring to the speech he gave earlier today at the huddle organized by the government. Read More…
0 CommentsSanniah Hassan Posted in Uncategorized
The government shocked the people on Tuesday by raising the price of fuel by Rs12.03 per litre due to an increase in crude oil prices on the international market “The prices of petroleum products are showing a drastic increase in the international market and presently are at the highest level since 2014. Despite the unabated increase since the beginning of the year, Prime Minister Imran Khan deferred the last review of petroleum products' prices on January 31, 2022, and advised against the summary of OGRA,” said the finance division in… Read More…
0 CommentsSanniah Hassan Posted in Uncategorized
Petroleum prices in Pakistan are projected to reach an all-time high today, as the government is scheduled to raise fuel rates by Rs18 per litre for the rest of February (Tuesday). According to sources familiar with the situation, the recent jump in gasoline costs on the worldwide market as a result of tensions between Russia and Ukraine could push up petroleum product prices in Pakistan. Read More…
0 CommentsSanniah Hassan Posted in Uncategorized
Pakistan's government declared on Monday that pricing for petroleum products will remain unchanged till February 15, 2021. Shahbaz Gill, the Prime Minister's Special Assistant on Political Communication, verified the news on Twitter, writing, "The prime minister did not accept the summary of increasing fuel prices by Rs11 and diesel prices by Rs14." Read More…
0 CommentsSanniah Hassan Posted in Uncategorized
According to a statement released in this regard, Pakistan's government declared on Tuesday that it will maintain petroleum product prices. The price of petrol would remain unchanged at Rs145.82 per litre as a result of the prime minister's decision, while the price of diesel will remain fixed at Rs142.62 per litre. Kerosene oil and light diesel would continue to be priced at Rs116.53 and Rs114.07 per litre, respectively. Read More…
0 CommentsSanniah Hassan Posted in Uncategorized
On Monday, Prime Minister Imran Khan rejected the Oil and Regulatory Authority's plan to raise petroleum product prices, announcing that prices will remain unchanged until the end of November. According to reports, the OGRA has proposed a Rs5/litre hike in fuel and diesel prices. In a statement, the Finance Division said that, despite growing petroleum product costs globally, the prime minister has rejected a request to raise prices, and that POL prices will remain unchanged from November 16, 2021 to provide maximum relief to the people. Read More…
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