Author: Admin

Circular Debt: A Major Threat to Pakistan’s Economic Stability, Warns Mazhar Ali Nasir

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Mazhar-Ali

KARACHI : Syed Mazhar Ali Nasir, a central leader of the United Business Group and former Senior Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has raised serious concerns about Pakistan’s growing circular debt, labeling it as one of the most pressing challenges facing the economy. Speaking on the occasion of Pakistan’s Independence Day, Nasir highlighted that the circular debt has ballooned from PKR 400 billion in 2012 to a staggering PKR 2.5 trillion in 2024—a six-fold increase that is crippling the nation’s financial stability.…

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PM Shehbaz Vows Major Reduction in Power Tariffs

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Shahbaz-Sharif

Urges Youth to Focus on Skills, Warns Against Anti-State Activities ISLAMABAD: In a message marking Pakistan’s 78th Independence Day, Prime Minister Shehbaz Sharif announced plans for a significant reduction in electricity tariffs, aiming to alleviate the financial burden on citizens and boost the nation’s industry, agriculture, and exports. Addressing a ceremony in Islamabad, PM Shehbaz acknowledged that rising electricity bills have become a pressing concern and assured the nation that the government is working tirelessly to address the issue. He promised that the public would soon receive good news regarding…

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OGRA Launches “Plant for Pakistan” Initiative

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OGRA

Islamabad, August 13, 2024: In commemoration of Pakistan’s 77th Independence Day, the Oil and Gas Regulatory Authority (OGRA) has launched the “Plant for Pakistan” initiative, reflecting the nation’s commitment to combating the adverse impacts of climate change. The eco-friendly drive was inaugurated by OGRA Chairman, Masroor Khan, who planted a tree alongside Members of the Authority and OGRA employees. The initial phase saw the planting of over 200 trees on the green belt in front of the OGRA Headquarters in Islamabad, in collaboration with the Capital Development Authority (CDA). Chairman…

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OGDCL Announces Major Gas Discovery at Mari East Block in Rahim Yar Khan, Punjab

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gas

ISLAMABAD, August 13, 2024: Oil and Gas Development Company Limited (OGDCL), Pakistan’s largest petroleum exploration and production company, on Tuesday announced a major gas discovery from its exploratory well Chak 202—1 in the Mari East Block, located in Rahim Yar Khan district of Punjab.The exploratory well Chak 202—1 was spudded on June 29, 2024, utilizing OGDCL’s in-house expertise and cutting-edge technology. The well was drilled to a depth of 1956.50 meters. Results from wireline logs interpretation and Drill Stem Test-1 (Barefoot) in the Sui Main Limestone (SML) have confirmed a…

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Independence Day Gift: Pakistan Govt Announces Major Reduction in Petroleum Prices

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Petroleum-prices

Islamabad, Pakistan – In a welcome move, the Pakistan government has announced a significant reduction in petroleum prices, just in time for the country’s 77th Independence Day celebrations. The price of petrol has been decreased by Rs 8.47 per liter, bringing the new price to Rs 260.96 per liter. Similarly, the price of diesel has been reduced by Rs 6.70 per liter, making the new price Rs 266.07 per liter. This substantial decrease in fuel prices is seen as a gift to the nation on the occasion of Independence Day,…

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