Saint Petersburg: Pakistan and Russia signed a Memorandum of Understanding (MoU) between Pakistan Customs and The Federal Customs Service (Russian Federation) on the Exchange of Statistical Data on Mutual Trade, at the sidelines of the Saint Petersburg International Economic Forum here on Thursday. Pakistan’s Ambassador to the Russian Federation, HE Mr. Shafqat Ali Khan, signed…
By Omed Hajjana Have you ever heard about walking petrol bombs? No! Ok, you can see them walking around in different areas of Lahore city, posing a serious threat to human lives. According to oil industry officials, these illegal filling stations were selling Iranian smuggled oil. They have posed a serious threat to human lives…
Energy Minister Visits Jhimpir Wind Corridor and directs uninterrupted power supply Federal Minister for Energy (Power Division), Engr. Khurram Dastgir Khan visited Jhimpir Wind Corridor for the inspection of transmission towers affected by rainfall and extreme weather conditions due to Cyclone Biparjoy. The affected transmission towers caused a disruption of 60MW. The minister visited the…
By Omed Hajjana Islamabad: Sardar Ayaz Sadiq, federal minister for economic affairs stated that domestic industry and employment generation suffer while Pakistan’s dependency on foreign goods ultimately increases due to smuggling and this has been creating a never-ending vicious cycle. Addressing the briefing session by IPSOS for parliamentarians regarding tax evasion in five sectors of…
By Omed Hajjana Islamabad: Shell Petroleum Company Limited (SPCO) on Wednesday announced its Parent Shell Petroleum Company to sell its shareholding in the business. Shell owns 77 percent of the local operations, which suffered losses in 2022 due to exchange rates, the devaluation of the Pakistani rupee, and overdue receivables. SPL said in a notice…
The price of high-speed diesel (HSD) is likely to go up by Rs 3.29 per litre effective from June 16, 2023, in line with the fluctuation in global oil prices. However, the price of petrol may go down by Rs 1.87 per litre. These prices are based on the current rate of Petroleum Levy and…
Our Correspondent Taj Gasoline (Private) Limited is going to acquire 41 percent shares and management control of Hascol Petroleum Limited. AKD Securities Limited has been appointed as manager to the offer by Taj Gasoline. AKD Securities on behalf of Taj Gasoline made the announcement on Wednesday regarding acquiring shares of Hascol with management control. Hascol…
Pakistan has been connected through Land Route To Uzbekistan and Kazakhstan by delivering consignments via a land route through Afghanistan. Following successful commercial cargo transportation to Turkey and Azerbaijan under the Transport Internationaux International (TIR) convention, NLC has achieved yet another significant milestone by successfully delivering consignments to Uzbekistan and Kazakhstan via a land route…
Our Correspondent Pakistan Car Sales in May 2023 have witnessed mixed performance with overall car sales showing a significant decline compared to the previous year but a slight improvement on a month-on-month basis. According to the Pakistan Automotive Manufacturers Association (PAMA), car sales reached 5,300 units, marking a 19% increase compared to April 2023, but…
By: Omed Hajjana The National Electric Power Regulatory Authority (Nepra) has questioned the decision to use imported coal for the 300MW coal-fired Gwadar power plant. During a public hearing held on Monday, the power regulator engaged in a heated debate and raised several concerns about using imported coal instead of indigenous coal, such as Thar…