The crisis of non-availability of POL products has started emerging on the scene as the Pakistan Refinery Limited (PRL) with capacity to refine 55,000 barrels per day of crude oil has shut down its operations to produce the POL products in the wake of non-availability of storage capacity, brimming with FFO (Furnace Fuel Oil). The PRL, in its official statement,…
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The respite in global crude oil price finally offered a breather to retail gasoline prices, without the government having to cut down on petroleum taxes. The reduction of Rs5/ltr (3 percent) for December’s last fortnight is the first in seven fortnights. A significant depreciation in rupee’s value against the greenback has taken some of the sheen away, as PKR depreciation…
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The two state-owned companies, Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC) are currently in process of executing at least six strategic projects to supply gas to special economic zones (SEZs) and industrial parks in their respective areas to give a boost to industrial production. The SNGPL is constructing a 12-kilometre (KMs) pipeline to supply 30…
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Following betterment in ease of doing business in Pakistan, many international companies have expressed their intention to invest in the country and a handful of them are gearing up to pour initial investment. A Chinese internet-based business-to-business (B2B) platform has announced plans to inject $50 million into Pakistan to facilitate local retailers of building material. Under the investment plan, Global…
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Ahmed Kuli Khan Khattak, CEO of Ghandhara Nissan on Tuesday said country’s auto market was too small for so may new entrants, evident from the fact they have been unable to make any significant dent in the market share of the old ones. KARACHI: Ahmed Kuli Khan Khattak, CEO of Ghandhara Nissan on Tuesday said country’s auto market was too…
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In its Asian Development Outlook (ADO) Supplement, the Manila-based lending agency also lowered economic growth forecast for South Asia to 8.6 per cent, from its earlier projection of 8.8pc, and increased inflation forecast to 5.9pc, up from 5.8pc rate of inflation it had earlier estimated for current year. “Much of the forecast upgrade reflects a higher projection for Pakistan, where…
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Pakistan is working to boost the capacity of its shipping fleet to draw on its strategic geographical position and help tackle the effects of a global supply chain crisis, the country’s maritime minister told Reuters. Pakistan has a coastline of over 1,000 kilometres (621 miles) and three major ports, including Karachi. It is two days sailing time from destinations in…
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Federal Minister for Information and Broadcasting Fawad Chaudhary said on Tuesday that deregulation of gas sector is going to take place and private companies would provide gas to the people after importing it. While briefing the media about the decisions taken by the federal cabinet chaired by Prime Minister Imran Khan, he said the Oil and Gas Regulatory Authority’s (OGRA’s)…
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