Tag: Hike
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July remittances post significant hike
The Pakistani diaspora has sent $3 billion back home in July, 48 percent higher than the previous year, The News has reported. State Bank Pakistan (SBP) data shows that remittances from Saudi Arabia increased by 56 percent to $761 million in July, while those from the United Arab Emirates increased by $611 million.The percentage reflected…
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Petrol price increased to historic high of Rs305.36 per litre
Check out the latest petrol and diesel prices effective from September 1st, 2023.
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Petrol, diesel prices expected to increase by more than Rs32 per litre from tomorrow
The prices of petroleum products are expected to increase by more than Rs32 per litre from February 16th, due to fluctuations in the US dollar exchange rate. The current price of petroleum, oil and lubricants is set at Rs236.40 per dollar, which equates to Rs271.82 for the next fortnight. It’s worth noting that free-on-board Platt…
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‘Misleading and incorrect’: OGRA rejects speculations about massive petrol price hike
The Oil and Gas Regulatory Authority (OGRA) on Saturday rubbished rumours about a whooping increase of Rs80 per litre in petrol price. “It has been observed that speculative prices of gasoline and diesel are being reported in the print and electronic media since last evening, which is misleading and incorrect,” an OGRA spokesman said in…
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SBP hikes export financing markup rates from 11% to 13%
The State Bank of Pakistan (SBP) has revised the rates of specialised lending schemes in accordance with its increased monetary policy rate of 16 per cent.
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NEPRA okays Rs3.21 per unit hike in power tariff
A quarterly adjustment of Rs3.21 per unit of power for the period of April to June 2022 has been approved by the National Electric Power Regulatory Authority (NEPRA). A further burden of Rs93.95 billion will be placed on energy consumers as a result of the most recent price increase. To be effective as of October…
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Govt may announce revised petrol prices today
After Prime Minister (PM) Shehbaz Sharif returns to Pakistan from Uzbekistan today, the federal government is expected to announce revised petroleum product prices. Amid these rumours, fuel pump owners have stopped buying petroleum goods, according to Geo News. Reportedly, the Prime Minister’s Office has notified the Finance Ministry of the POL price announcement. According to…
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Pakistan to import vegetables from neighbouring countries to overcome shortage
After devastating floods ravaged the nation, Pakistani officials made the decision to import onions and tomatoes from Iran and Afghanistan due to the rising prices and imminent food crisis. The production and supply of vegetables and other crops has been impacted by the recent torrential rains and flooding. At a meeting presided over by Commerce…
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‘I am an easy target’: Miftah Ismail reacts to criticism after another petroleum hike
Finance Minister (FM) Miftah Ismail once again explained how the petrol prices are calculated after receiving criticism for the increase in petroleum prices. Responding to senior journalist Hamid Mir on Twitter, he said the government has not imposed any tax on petroleum products. Clarifying his position, the minister said that he did not say that…
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Govt raises petrol price by Rs6.72 to Rs233.91 per litre
Despite several reports of an expected decrease in prices of petroleum products, the government increased the price of petrol by Rs6.72 per litre and decreased the price of high-speed diesel (HSD) by Rs0.51 and kerosene oil by Rs1.67 per litre. The price of light diesel oil (LDO) was raised by Rs0.43 per litre by the…