Islamabad, October 10, 2024 – In a decisive move, Prime Minister Shehbaz Sharif on Thursday announced the termination of power purchase agreements with five Independent Power Producers (IPPs), a landmark decision aimed at alleviating the financial burden on the nation’s electricity consumers.
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Cabinet Approves ISMO Setup for Low-Cost Electricity
Islamabad, October 9, 2024 – In a transformative step towards revolutionizing Pakistan’s electricity market, the Cabinet Committee on Energy has officially approved the establishment of an Independent System and Market Operator (ISMO).
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Petrol Prices in Pakistan Plunge by 23.51% Over Past Year
Islamabad, October 4, 2024 – Pakistan has witnessed a sharp decline in petrol prices, with the cost per liter plunging by a staggering 23.51% over the past year, according to data released by the Pakistan Bureau of Statistics (PBS) on Friday. This marked reduction comes as a welcome respite for consumers amid fluctuating global oil markets and domestic economic pressures.
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Unclear Tax Liability Becomes Major Obstacle in PIA Privatization
ISLAMABAD: The privatization of Pakistan International Airlines (PIA) has encountered a significant setback as unresolved tax liabilities and labor issues have deterred pre-bidding parties from moving forward.
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Pakistan Sets Diyat at Rs 8.10 Million for Fiscal Year 2024-25
Islamabad, October 3, 2024 – The Government of Pakistan has officially announced the amount of diyat (compensation) for the fiscal year 2024-25, setting it at Rs 8.10 million. This figure, equivalent to the value of 30,630 grams of silver, was confirmed by the Ministry of Finance through a circular issued on October 2, 2024.
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Pakistan, Malaysia Vow to Strengthen Bilateral Ties in Key Sectors
Islamabad, October 3, 2024 – Pakistan and Malaysia reaffirmed their commitment to further bolster bilateral cooperation in key sectors including trade, economy, banking, food technology, and agriculture. This pledge was made during a high-profile meeting between President Asif Ali Zardari and the visiting Malaysian Prime Minister Dato’ Seri Anwar Ibrahim at Aiwan-e-Sadr. The meeting, attended by senior Pakistani officials and ministers, focused on fortifying strategic partnerships between the two nations.
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Pakistan’s Petroleum Sales Surge by 20% YoY in September 2024
Karachi, October 1, 2024 – Pakistan’s petroleum sales witnessed a significant surge of 20% year-on-year (YoY) in September 2024, reaching a total of 1.27 million tons, according to data released by analysts at Arif Habib Limited.
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Prime Minister Shehbaz Hails Record Low Inflation in 44 Months
Islamabad, October 1, 2024 – Prime Minister Muhammad Shehbaz Sharif on Tuesday expressed satisfaction over the sharp decline in inflation, which has now fallen to its lowest level in the past 44 months. The inflation rate, recorded at 6.9 percent year-on-year in September 2024, marks a significant milestone in the government’s efforts to ease the financial burden on the masses.
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Pakistan Slashes Petroleum Prices for October’s First Fortnight
Islamabad, September 30, 2024 – In a welcome development for consumers, Pakistan’s federal government announced a significant reduction in petroleum prices for the first half of October 2024.
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Today Petroleum Prices in Pakistan – September 30, 2024
Karachi, September 30, 2024 – As of today, the petroleum prices in Pakistan remain as follows: Petrol at Rs 249.10 per liter, High-Speed Diesel (HSD) at Rs 249.69 per liter, Kerosene at Rs 158.47 per liter, and Light Diesel Oil (LDO) at Rs 141.93 per liter.
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