Sui Northern Gas Pipelines Limited (SNGPL) suspended the gas supply to compressed natural gas (CNG) stations across Punjab and Khyber Pakhtunkhwa on Monday for an indefinite period in a bid to meet the increasing demand of over six million domestic consumers. The CNG sector has taken exception to the SNGPL’s decision, describing the suspension of gas as an illegal act.…
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ON the heels of the sudden surge in inflation beyond expectations and a record trade deficit, Prime Minister’s adviser on finance and revenue Shaukat Tarin came out in the public to pump possible confidence to the markets that were seen rapidly shedding value of rupee and share prices. He expects the foreign exchange reserves to reach $20.5 billion in a…
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South Korean technology giant Samsung Electronics has operationalised its first TV line-up plant in collaboration with a local firm in Karachi, Commerce Adviser Razak Dawood announced on Monday. Taking to Twitter, Mr Dawood shared photos of the facility and tweeted: “We congratulate Samsung Electronics on operationalising its first TV Line-up plant in Pakistan at Karachi in collaboration with R&R Industries.…
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The Oil and Gas Regulatory Authority (Ogra) has directed gas utilities to cut provisional payments to gas producers by 25%, leaving exploration and production (E&P) companies high and dry. In a letter to managing directors of the country’s two gas utilities, Ogra advised them that payments to producers of natural gas should be made strictly on the basis of price…
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We, the Pakistani American community, are extremely saddened by the barbaric death of Sri Lankan factory manager Priyantha Diyawadana, at the hands of a violent mob in Sialkot, Pakistan. This is totally against the teachings of our beloved Prophet, and Islam. We condemn this heinous act, and hope to get full justice for the victim and his family. We are now collecting funds for…
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The Petroleum Division is close to appointing heads of key state-owned energy companies in an effort to improve the performance of these units as it has drawn flak for delaying the hiring for several months. The division has thus far failed to appoint managing directors/ chief executive officers of major energy companies, which include Pakistan Petroleum Limited (PPL) and Pakistan…
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By Mansoor AhmadDecember 05, 2021 LAHORE: It is true the entire world is grappling with inflation, the basic difference between inflation in developed economies and Pakistan is the former have fewer poor, while the latter is loaded with poor. Inflation impacts all segments of the society differently. It affects lower income groups disproportionately. It all relates to the consumable surplus that…
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The Sui Southern Gas Company (SSGC) has submitted a petition to the Oil and Gas Regulatory Authority (OGRA) seeking a hike in the gas tariff. As per The News, SSGC requested the regulator to hike the price of gas by Rs58.42 per Million British Thermal Units (mmBtu) for the fiscal year 2022. The company had already submitted a review petition…
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Despite government efforts to shore it up, the national economy is facing growing problems. Inflation is on the rise and the rupee is performing poorly. The Pakistani currency has lost 15 percent of its value against the dollar in the last six months. In the past three years, food prices have increased by 35-40 percent and our external debt has…
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Qaumi Watan Party (QWP) Chairman Aftab Ahmad Khan Sherpao has said that the Pakistan Tehreek-e-Insaf (PTI) government would place more burden of taxes on the people in the proposed mini-budget. Addressing a gathering in Peshawar city on Sunday, he said the government, in the mini-budget, would impose more taxes on the people, who were already exposed to galloping inflation. On…
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