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Expected decreases in petrol and diesel prices starting on November 1

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1 month ago

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In the past fifteen days, the price of gasoline has dropped by $1.5 and $2.5 per barrel on the international market, respectively.

With the present currency rate and tax rates in mind, the government is probably going to help the populace by lowering the price of gasoline by Rs. 3 and HSD by Rs. 2.30 per liter, respectively.

In the worldwide market, the price of HSD dropped by $2.5 to $84 per barrel, while the price of gasoline dropped from $77.5 to $76 per barrel.

Prior to the end of the current month, the price of gasoline stayed at Rs247.03, while the price of diesel climbed by Rs5 on October 15.

Additionally, the costs of kerosene oil and light diesel have not altered.

According to earlier reports, the Pakistani federal government was considering raising the oil corporations’ profit margin by Rs1.35, to Rs9.22 per gallon. The proposed increase was Rs1.40, which would have increased the profit for petrol sellers to Rs10.04 per litre.

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Finance Minister: Pakistan Is Committed To Putting IMF Program Into Practice

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According to Finance Minister Muhammad Aurangzeb, Pakistan is dedicated to implementing the IMF Program, and economic reforms are under progress as well as the simplification of corporate procedures.

Speaking at a function in Islamabad today, the finance minister stated that the economy is doing well, the current account deficit has drastically shrunk, and inflation has fallen to a 78-month low.

Pakistan has made tremendous strides in every sector of the economy over the past 14 months, he said, and now we must fortify the framework of economic stability.

According to him, the private sector plays a significant role in the economy, and the government would support it fully and provide policy guidance.

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The PSX 100 index reaches a record high and surpasses the benchmark of 105,000 points.

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Today, for the first time in its history, the Pakistan Stock Exchange (PSX) crossed the 105,000-point threshold, marking a significant milestone. Currently, the market is dominated by the positive trend.

Over 900 points were added to the PSX during trading, but profit-taking prompted the index to fall just below the 105,000-point mark. The 100-Index ended the day up 401 points, coming in at 104,960 points.

Market observers credit the rally to increased investor confidence, which was fueled by positive economic data and better market liquidity. The PSX’s performance highlights how resilient and appealing it is becoming to both domestic and international investors.

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SIFC-Assisted OGDCL Commences Gas Production in Uch Every day, OGDCL contributes 5 million SCF to the national grid.

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24 hours ago

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The chronic gas deficit is being addressed by Oil & Gas Development Company Limited, which produces 5 million standard cubic feet of gas each day.

In the Uch region of the Dera Bugti District of Balochistan, Oil & Gas Development Company Limited has started producing gas with the assistance of the Special Investment Facilitation Council.

The company used its technological abilities to drill a well and successfully find gas at a depth of 1,345 meters.

An improvement in the energy industry is the company’s enhanced financial performance, which has resulted in a profit of 41.02 billion rupees.

In order to promote sustainable growth and strengthen national energy security, Oil & Gas Growth Company Limited is still committed to growing production.

Together with the Special Investment Facilitation Council, OGDCL’s strategic initiatives are essential to the energy sector’s future.

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