Oil import LCs shrink up to 20pc on rupee devaluation

oil

Pakistan’s oil sector on Monday sought urgent revision in the exchange loss adjustments mechanism on import of petroleum products as the letters of credit limits have shrunk by 15-20 percent overnight on account of rupee devaluation. Oil Companies Advisory Council (OCAC), the representative body of refineries and oil marketing companies (OMCS), in a communication to the Petroleum Division stated that…

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Govt, IMF discuss policies, reforms required to complete 9th review Govt, IMF discuss policies, reforms required to complete 9th review

The government and the International Monetary Fund (IMF) on Tuesday began discussions on the country’s economic and fiscal policies and the reforms required to complete the much-delayed ninth review of a $7 billion loan programme. A delegation of the international money lender led by IMF Mission Chief Nathan Porter held a meeting with Finance Minister Ishaq Dar and other officials…

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Challenging the persistence of baseload bias in Pakistan’s energy planning – research

Islamabad: On 31 January, chapter one of the series, ‘Busting the Myths’, was published by Renewables First (RF), an energy and environment think-tank. The research claims to bust myths about renewable sources and their integration into the energy mix of Pakistan. The first chapter explains the reality behind the myths about baseload energy and the need for transition to renewable…

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Smuggled Iranian oil in Pakistan

illegal-petrol

Recently around 41 innocent people were burned alive in a bus on Quetta-Lesbela Road.🚑🚒 It is unfortunate that while our priorities are to spend millions on Motorways and Orange/ Red Lines in other provinces, main RCD highway of Baluchistan (which connects Karachi to Afghanistan via Chaman and Iran via Taftan) is still single carriageway and is prone to many traffic…

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