Tag: OCAC
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Pakistan has ample fuel stocks available: PSO denies reports of petrol, diesel shortage
Pakistan State Oil (PSO) on Friday denied all the rumours about the shortage of fuel reserves and said that there is ample stock of petroleum products in the country. The Ministry of Energy and Oil & Gas Regulatory Authority (OGRA), according to the PSO spokesman, is keeping an eye on the general situation regarding product…
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Forced stabilisation of oil prices causes oil industry to face over Rs7 billion in losses: OCAC
Maintaining oil prices for the second consecutive fortnight could harm the oil industry and disrupt petroleum products supply. The oil industry claims that it has suffered a loss of over Rs7 billion due to the government’s plan to keep oil prices artificially low. The nation’s oil industry protested against the government’s “manipulation” of the pricing…
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Oil sales fell by 11 per cent as prices rose to highest levels
In June 2022, overall sales of petroleum and lubricants were 1.93 million tonnes, down 11 per cent from the previous month but unchanged from the previous year. Petrol and high-speed diesel (HSD) sales both experienced significant monthly declines, falling by 12 and 16 per cent, respectively. Sales of all oil products rose by 16 per…
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IMF remains concerned over Pakistan’s budget 2022-23
The International Monetary Fund (IMF) has expressed concern regarding Pakistan’s newly announced budget, according to Finance Minister Miftah Ismail, however the government is convinced it can implement adjustments to appease the lender. According to Miftah Ismail, Pakistan is expecting to sign a staff-level agreement with the IMF this month. The government officially launched a Rs9.5…