By Staff Reporter
KARACHI: Iran and Pakistan are reviving efforts to complete a long-delayed gas pipeline project, aimed at supplying 750 million to one billion cubic feet per day of natural gas to Pakistan for 25 years.
Energy
Inflation slows to lowest in nearly two years
By Staff Reporter
ISLAMABAD: The inflation rate slowed for the fourth straight month in April, easing to 17.34 percent from a year ago, as record borrowing costs curbed economic growth and domestic demand, data from the statistics office showed on Thursday.
Inflation to hover around 18.5-19.5pc in April, ease further in May: Ministry
By Staff Reporter
ISLAMABAD: The economy is showing signs of recovery as the finance ministry on Tuesday forecast a drop in inflation to 17.5 percent in May, following a series of strict administrative measures aimed at stabilizing the prices.
Petrol price cut by Rs5.45, diesel drops by Rs8.42/liter
By Staff Reporter
ISLAMABAD: The government has slashed petroleum product prices by up to 2.97 percent for the first half of May, capitalizing on a fall in global oil premium rates, officials said on Tuesday.
Antitrust authority greenlights Aramco’s 40pc stake acquisition in Gas & Oil Pakistan
By Staff Reporter
ISLAMABAD: Saudi Aramco, the world’s largest oil producer, has entered Pakistan’s fuels retail market with approval from the country’s monopoly watchdog on its acquisition of a 40 percent stake in Gas & Oil Pakistan Ltd.
Petrol hits Rs293.94/litre, diesel at Rs290.38
By Staff Reporter
ISLAMABAD: The government has raised fuel prices by 1.57 percent for petrol and 2.88 percent for high-speed diesel (HSD), effective until April 30, amidst fluctuations in the international oil market.
Saudi delegation arrives in Pakistan to strengthen economic ties
By Staff Reporter
ISLAMABAD: A high-level delegation from Saudi Arabia, led by Foreign Minister Prince Faisal bin Farhan bin Abdullah, arrived in Pakistan on Monday for a two-day visit aimed at enhancing economic cooperation between the two nations.
Petrol price leap, diesel dip
By Staff Reporter
ISLAMABAD: The government has announced a hike in petrol prices by up to Rs9.66 per liter starting on Monday, as stated by the Finance Division, attributing the increase to the rising cost of petrol in the global market.
Pakistan rewrites policy incentives to promote green energy
By Staff Reporter
ISLAMABAD: Pakistan’s Petroleum Division has notified an amended policy for its brownfield refineries, offering them fiscal incentives to upgrade their facilities and produce cleaner fuels, according to an official document.
Pakistan moves ahead with Iran gas project, faces arbitration threat
By Staff Reporter
ISLAMABAD: Pakistan has decided to start work on a long-delayed gas pipeline project with Iran, despite the threat of US sanctions and a looming deadline from Tehran to avoid arbitration.