ISLAMABAD: The prices of high-speed diesel (HSD) and petrol are estimated to be reduced by about Rs5-19 per litre for the Oct 1-15 period, in what could be the first decrease in two months, mainly because of the rupee’s appreciation. The prices of the two essential fuels were last cut in mid-July when petrol was reduced by Rs9 per litre to Rs253…
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Pakistan welcomes Russia LPG shipment
ISLAMABAD: Pakistan has received its first shipment of liquified petroleum gas (LPG) from Russia, Moscow’s embassy in Islamabad said on Tuesday, marking Islamabad’s second major Russian energy purchase. The shipment, which the embassy said was delivered with Iranian help, comes after Pakistan received its first-ever delivery of Russian crude under a deal struck between the two countries earlier this year.…
Read MoreRs10bn recovered amid crackdown on power theft, Senate panel told
ISLAMABAD: The countrywide crackdown on power theft has yielded positive results as so far Rs10 billion have been recovered while the Power Division is expecting to collect up to Rs150 billion in the next five months. It was revealed by a representative of the Power Division in the Senate Committee on Energy’s meeting on Tuesday. The committee received a report…
Read MoreKCCI seeks import ban on recycled plastic from neighbouring countries to protect local industry
Karachi: The Karachi Chamber of Commerce & Industry (KCCI) has called on the government to stop the import of recycled plastic from neighboring countries, saying it causes huge revenue losses and undermines the local recycling industry. In a letter to Dr. Gohar Ejaz, the caretaker minister for commerce, industries, and production, KCCI president Mohammad Tariq Yousif said that smuggled and…
Read MorePakistan receives first shipment of Russian LPG, Russian embassy says
Shipment, which the embassy says was delivered with Iranian help, comes after Pakistan received its first-ever delivery of Russian crude under a deal struck earlier this year ISLAMABAD: Pakistan has received its first shipment of liquified petroleum gas from Russia, Moscow’s embassy in Islamabad said on Tuesday, marking Islamabad’s second major Russian energy purchase. The shipment, which the embassy said…
Read MoreSolar panel case: Further probe under way to uncover ‘startling’ facts
ISLAMABAD: Further investigation is under way to uncover additional information and the potential involvement of other entities in the solar panel sector following the detection of overinvoicing of Rs69.5 billion in imports of solar from 2017 to 2022. An official in the Finance Ministry, when asked, said that as per the Federal Board of Revenue (FBR), further investigation is currently…
Read MoreBreaking nexus with electricity thieves: Transfers of Discos’ operational staff on the cards
ISLAMABAD: The Power Division has decided to transfer operational staff of power Distribution Companies (Discos) from one circle to other another circle to break their collusion with electricity thieves, official sources told Business Recorder. “Transfer of operational staff of Discos, SDOs, line superintendents and meter readers is on the cards and no political influence will be accepted in this regard,” the…
Read MoreHopewind plans to build technical support teams, hold training sessions to harness Pakistan’s clean energy potential
Hopewind, the world’s leading renewable energy equipment producer, has plans to build technical support teams in Pakistan comprising local technicians for efficient service to its customers using clean energy options for energizing their homes and offices. “We have also plans to conduct local R&D activities to promote and support the Pakistani renewable sector for maximum utilization of solar and wind…
Read MoreSNGPL imposes Rs55m in fines over gas pilferage in Punjab, KP
LAHORE: Sui Northern Gas Pipelines Limited (SNGPL) teams have disconnected 7,187 connections — 7,144 domestic and 43 commercial — in several operations from September 8 to date in Punjab and Khyber Pakhtunkhwa due to gas pilferage and other complaints. The company imposing heavy fines totalling Rs55.2 million, according to an SNGPL spokesperson. “Over the past 17 days, we have disconnected…
Read MoreIs the worst behind Pakistan’s economy?
ISLAMABAD: While it remains too early to assert definitively, several indicators suggest that Pakistan’s economy may have weathered the worst of its recent challenges. There were serious concerns that due to the IMF’s push for easing import controls and letting the exchange rate float, the rupee may see further free fall. However, after hitting a record low of Rs335 on…
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