By Staff Reporter
ISLAMABAD: The government reduced the ex-depot price of high-speed diesel (HSD) by Rs 30 per litre and reduced other petroleum products by Rs 12 per litre for the next fortnight, effective from May 16 to May 31.
Energy
Growth rate predicted to flatline at 0-0.5pc, agriculture faces downturn
By Staff Reporter
ISLAMABAD: Pakistan’s growth rate is anticipated to remain stagnant between 0 and 0.5 percent for the outgoing financial year of 2022-23, with concerns mounting over a potential downturn in the crucial agriculture sector.
Pakistan vows to address IMF’s concerns over fuel pricing scheme for underprivileged
By Staff Reporter
ISLAMABAD: Pakistan’s Minister of State for Petroleum, Musadik Malik, on Tuesday affirmed the government’s commitment to address concerns raised by the International Monetary Fund (IMF) over the proposed fuel pricing scheme aimed at helping the underprivileged.
Punjab mulls USD 150 mil energy sector revamp
The World Bank funded program looks to save over 180 GWh of electricity annually through solarization, retrofitting, and replacement of inefficient appliances. By Muhammad Ali.
Oil sales plunge by half in April amid economic slowdown, smuggled Iranian products
By Staff Reporter
KARACHI: Pakistan’s oil sales experienced a sharp decline, with a 46 percent year-on-year drop to 1.171 million tons in April. The country’s total sales during the July-April period of FY23 also suffered a significant setback, decreasing by 24 percent to 13.970 million tons.
Pakistan’s trade deficit shrinks by almost 40pc in ten months
By Staff Reporter
ISLAMABAD: Pakistan’s trade deficit has shown a significant reduction of 39.62 percent, amounting to $23.713 billion, during the initial ten months of the current fiscal year.
Pakistan overtakes Sri Lanka to become Asia’s inflation leader
By Staff Reporter
ISLAMABAD: Pakistan has surpassed Sri Lanka to become Asia’s fastest inflationary economy, with rising food and energy costs and a weaker currency driving price gains to a record in April, government data showed on Tuesday.
No change in petrol prices, high-speed diesel gets cheaper by Rs5/litre
By Staff Reporter
ISLAMABAD: The government on Sunday announced that the price of petrol will remain unchanged at Rs282 per litre for the next two weeks, while the price of high-speed diesel has been reduced by Rs5 per litre to Rs288.
Food, energy prices skyrocket, Pakistan faces record inflation levels in April
By Staff Reporter
ISLAMABAD: Pakistan’s Finance Ministry has projected that inflation in April could reach an unprecedented range of 36 percent to 38 percent year-on-year due to a surge in food and energy prices, as well as the effects of a weakened currency.
Pakistan plans to build new refinery, Saudi Aramco to invest
By Staff Reporter
ISLAMABAD: The government on Friday announced plans to build a new refinery to meet the country’s energy needs.