By Naveed Naqvi
ISLAMABAD: The government on Sunday raised prices of petrol and diesel by Rs35 per liter, just days after the rupee value plummeted to its lowest against the US dollar when price caps were removed.
Energy
ENI declares force majeure on February LNG cargo for Pakistan
By Staff Reporter
ISLAMABAD: Eni said the delivery of a liquefied natural gas (LNG) cargo to Pakistan LNG Limited that was scheduled for February has been disrupted due to an event of force majeure.
This picture taken on February 24, 2013 shows an aerial view of buildings and homes during a nationwide power blackout in Karachi. Pakistan was hit by a nationwide blackout for more than two hours after the breakdown of a major plant caused power stations to stop working across the country, officials said on February 25. AFP PHOTO/Asif HASSAN
PM Sharif orders inquiry into power outage
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif has ordered an inquiry into a major breakdown in the national grid caused a massive power outage nationwide as electricity is being restored in the country after a blackout of almost 16 hours.
Pakistan suffers major power outage
By Staff Reporter
ISLAMABAD: A major power outage hit cities and towns on Monday, including the capital Islamabad and the commercial hub Karachi, due to a fault in transmission lines, officials said.
Pakistan could see first Russian oil supplies in March
By Naveed Naqvi
ISLAMABAD: Russia on Friday agreed to supply crude oil and oil products to Pakistan, with technical details of the deal to be finalized by March and Islamabad will pay for the imports in currencies of ‘friendly countries’, officials of both the countries said.
Current account shrinks in first-half on weak imports
By Staff Reporter
KARACHI: Pakistan’s current account (C/A) deficit narrowed sharply in the first half of the current fiscal year amid dollar shortages in the country to fund imports of goods, central bank data showed on Wednesday.
K-Electric ready to repay consumers PKR 12 billion in FCA
Karachi’s leading power distributor says it is ready to reimburse consumers PKR 10.262/unit on account of lower international fuel prices. By Naveed Naqvi.
ECC approves export of 250,000 tonnes of sugar
By Staff Reporter
ISLAMABAD: The government on Tuesday allowed another 150,000 tonnes of sugar export, bringing the total to 250,000 tonnes so far this year, as it seeks to generate foreign exchange for its dried coffers.
Pakistan plans early closure of markets, malls in energy austerity drive
By Staff reporter
ISLAMABAD: The coalition government of Prime Minister Shehbaz Sharif on Tuesday decided to ban wedding functions after 10 pm and shut markets across the country at 8.30 pm as part of a raft of measures under the energy conservation plan to save costs amid an ongoing economic crisis.
Stubbornly high fuel, food prices harden inflation in December
By Staff Reporter
ISLAMABAD: Consumer prices unexpectedly rose in December and underlying inflation accelerated amid rising costs for fuel and food, indicating that the central bank will keep borrowing cost elevated in its next monetary review.