Fuel prices in Pakistan are likely to see an upward revision starting August 16 as the caretaker government is all set to announce an increase of up to Rs. 20. Pakistan is celebrating its 77th Independence Day today, but the news of another massive increase in prices of fuel is set to break the spirits of average Pakistanis. Petrol prices…
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KARACHI: The Pakistan Refinery Limited (PRL) has said that it would again process Russian crude “when available at favourable commercial terms”, denying the impression that it has suspended the use of Russian crude oil because of processing issues. In a release on Sunday, the refinery insisted that Russian crude was successfully processed and the “spot deal was technically and commercially…
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ISLAMABAD: The coalition government headed by former prime minister Shehbaz Sharif in its last week reconstituted the board of directors (BoDs) of Sui Southern Gas Company (SSGC) by adding six new independent members. However, Dr Shamshad Akhter will continue to serve as chairperson of the board, a senior official of the Ministry of Energy told ‘The News’. According to the…
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Debt swells due to inefficiency, theft and losses faced by power distribution firms ISLAMABAD: The power sector circular debt jumped to Rs2.31 trillion by the end of June 2023 after revenue gains from a massive increase in electricity prices were lost to the inefficiencies, theft and losses faced by power distribution companies. Official statistics showed that during fiscal year 2022-23,…
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President, PM urge nation to follow Quaid’s golden principles President Dr Arif Alvi and outgoing prime minister Muhammad Shehbaz Sharif in their separate messages on Independence Anniversary extended heartfelt congratulations to the entire nation The nation is celebrating its 76th Independence Anniversary today (Monday) with utmost national fervour. The day dawned with a 31-gun salute at the federal capital and…
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Any attempt to disrupt Sino-Pak bond will fail: Beijing China reaffirmed its unwavering commitment to its strong friendship with Pakistan and the China-Pakistan Economic Corridor (CPEC), declaring that any attempt to disrupt these bonds would be unsuccessful. The Chinese Foreign Ministry’s spokesperson, Wang Wenbin, delivered this resolute message during a routine media briefing. “No attempt to sabotage the friendship between…
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Officials say company will increase renewable energy, Thar coal-based production KARACHI: Officials of K-Electric (KE), which supplies electricity to Karachi and its adjoining areas, have given assurances to consumers that their monthly power bills will remain stable around current levels even if inflation spikes unpredictably in the coming years. The company has devised a business strategy to increase the share…
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