The federal government has announced a reduction in fuel prices on Sunday, with the cost of petrol falling by Rs10 per litre from Rs259.10 to Rs249.10, effective from midnight tonight. High-speed diesel (HSD) has also seen a price cut, dropping by Rs13.06 per litre from Rs262.75 to Rs249.69. According to sources, the price of Kerosene … Read more
ISLAMABAD: The Oil Marketing Association of Pakistan (OMAP), led by its Senior Vice Chairman Tariq Mehmood, met with Federal Minister for Commerce Jam Kamal Khan on Saturday to discuss expanding and developing the fuel oil industry in Balochistan. The key focus of the talks was on establishing more licensed fuel stations across the province to … Read more
ISLAMABAD: Petroleum Minister Musadik Masood Malik informed the National Assembly on Thursday that petroleum prices in Pakistan had decreased by Rs 47.54 per litre since May. In response to various questions, the minister explained, “Pakistan purchases fuel at international market rates, but we receive some discounts on the premium.” He elaborated, “Under an agreement, we … Read more
A representational image of a transmission tower, also known as an electricity pylon. — AFP/File Electricity rates fell by Rs2.93 per unit for September. Prices increased by Rs1.74 under quarterly adjustment. People using up to 300 units to get relief of Rs2.19/unit. As millions across Pakistan continue to reel under soaring utility bills, the Power … Read more
ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has approved an increase in electricity prices under quarterly and fuel price adjustments, while also reducing charges by 37 paisa per unit for July’s fuel cost adjustment. In a statement issued by NEPRA on Friday, it was confirmed that a quarterly adjustment of Rs1.75 per unit has … Read more
The Federal Board of Revenue (FBR) has suspended two tax officers for approving a multi-billion rupee tax refund to Gas & Oil Pakistan Ltd (GO), despite orders from the Finance Minister to release the funds. The refund aimed to resolve a bottleneck hindering an $80 million Saudi investment in the fuel pump operator. According to … Read more
Foreign energy suppliers, including Chevron and Vitol, are reluctant to store and trade fuel in Pakistan under the existing policy framework, whether through private or public bonded warehouses. According to a news report, a working paper scheduled for discussion at a Petroleum Division meeting on August 29, 2024, highlights the hesitation of these suppliers to … Read more
A committee tasked with addressing issues in the petroleum sector has recommended introducing a fuel price adjustment mechanism in gas bills, similar to the one in electricity bills. The decision was made during a meeting chaired by Deputy Prime Minister Muhammad Ishaq Dar, where challenges faced by exploration and production (E&P) companies were discussed. The … Read more
ISLAMABAD: Prime Minister Shehbaz Sharif has announced a significant reduction in petroleum product prices as a “gift to the nation on Independence Day”, said a statement issued by the Prime Minister’s Office on Tuesday. The price of petrol has been slashed by Rs8.47 per litre, bringing it down from Rs269.43 to Rs260.96. Similarly, the price … Read more
ISLAMABAD: In an attempt to release over 800 tankers carrying highly inflammatory petrol adulterant, the government has constituted a fact-finding committee to investigate the Rs135 billion scam related to the import of dangerous petrol as an industrial chemical. The committee has been given one week to finalise its recommendations and assign responsibility for the illegal … Read more