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Beginning on September 16, the price of petrol is expected to experience a significant drop.

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The price of kerosene oil is expected to decrease by Rs8 per liter, while the price of petrol and high-speed diesel are expected to receive a reduction of Rs12 per liter each, according to sources.

After analyzing the fluctuations that occurred on the worldwide market from September 12 to 14, the ultimate decision regarding the reduction in the price of gasoline would be made.

Beginning on September 16, the existing rates will be replaced with the new ones.

At one point in time, the government experienced a modest decrease in the prices of petroleum. With a drop of Rs 1.86 per litre, the price of petrol has been brought down to Rs 259.10, while the price of high-speed diesel has been reduced by Rs 3.32 per litre, and it is currently priced at Rs 262.75.

A three-year low is reached for oil prices.
Oil benchmark on a global scale OPEC+ revised down its demand prediction for this year and 2025, offsetting supply concerns from Tropical Storm Francine, which resulted in Brent crude futures arriving at their lowest level since December 2021. This occurred on Tuesday.

Brent crude futures reached a price of $69.19 a barrel, representing a decrease of $2.65, or 3.69%. The final price of a barrel of West Texas Intermediate (WTI) crude in the United States was $65.75, representing a decrease of $2.96, or 4.31%.

In addition, the Organization of the Petroleum Exporting Countries (OPEC) reduced its forecast for the growth of world demand in 2025 from 1.78 million barrels per day to 1.74 million barrels that year. As a result of the deteriorating prospects for global demand and the anticipation of an oil glut, prices moved downward.

According to increased inventories of diesel and gasoline, margins for Asian refiners dropped to their lowest seasonal level since the year 2020 last week.

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Irfan Siddiqui meets with the PM and informs him about the Senate performance of the parliamentary party.

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The head of the Senate’s Foreign Affairs Standing Committee and the PML-N’s parliamentary leader paid Prime Minister Muhammad Shehbaz Sharif a visit in Islamabad.

Senator Irfan Siddiqui gave the Prime Minister an update on the Parliamentary Party’s Senate performance.

Additionally, Senator Irfan Siddiqui gave the Prime Minister an update on the Senate Standing Committee on Foreign Affairs’ performance.

He complimented the Prime Minister on his outstanding efforts to bring Pakistan’s economy back on track and meet its economic objectives.

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SIFC Increases Direct Foreign Investment: Investment in the Energy Sector Rises by 120%

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The Special Investment Facilitation Council is intended to help Pakistan’s energy sector attract $585.6 million in direct foreign investment in 2024–2025. The amount invested at the same time previous year was $266.3 million.

This is a notable 120% rise, mostly due to investments in gas exploration, oil, and power. Such expansion indicates heightened investor confidence and emphasizes the development potential in important areas.

The State Bank reports that foreign investment in other vital industries has increased by 48% to $771 million.

This advancement is a blatant testament to SIFC’s efficient investment procedure and quick project execution.

The purpose of the Special Investment Facilitation Council is to establish Pakistan as an investment hub by aggressively promoting regional trade and investment in the energy sector and other critical industries.

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Discos report losses of Rs239 billion.

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When compared to the same period last year, the data indicates that discos have decreased their losses in the first quarter of the current fiscal year.

The distribution businesses recorded losses of Rs239 billion in the first three months of the current fiscal year, a substantial decrease from the Rs308 billion losses sustained during the same period the previous year.

Additionally, the distribution businesses’ rate of recovery has improved. It has increased to 91% in the first quarter of this year from 84% in the same period last year, indicating success in revenue collection.

Regarding circular debt, the Power division observed a notable change. Last year, between July and October, the circular debt grew by Rs301 billion. Nonetheless, this year’s first four months saw a relatively modest increase in circular debt, totaling about Rs11 billion.

These enhancements show promising developments in the electricity sector’s financial health in Pakistan, where initiatives are being made to accelerate recovery rates and slow the expansion of circular debt.

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