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petrol

EU automobile sales to rebound in 2022: industry

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EU automobile

PARIS – Automobile sales are likely to rebound by 7.9 percent in the European Union in 2022, but still remain far below the 2019 level, industry figures showed Tuesday. The European Automobile Manufacturers’ Association (ACEA) said it “now forecasts that passenger car registrations in the EU will return to growth this year, rising by 7.9 … Read more

Oil set to post biggest annual gains

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Oil prices edged down on Friday but were set to post their biggest annual gains in 12 years, spurred by the global economic recovery from the Covid-19 slump and producer restraint, even as infections surged to record highs around the world. Brent crude futures fell to $79.14 a barrel, while US West Texas Intermediate (WTI) … Read more

Value of Afghanistan’s currency climbs

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Afghanistan's currency

KABUL: The US dollar has depreciated against afghani, Afghanistan’s national currency, from 130 afghani days ago to 95 afghani on Thursday, the government-run Bakhtar News Agency reported. Officials of Sara-i-Shahzada, the largest money changers market in Afghanistan, was quoted by the news agency as saying that the value of one US dollar has dropped from … Read more

Petroleum dealers call off countrywide strike after govt agrees to increase profit margins

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Petrol Strike

KARACHI: The All Pakistan Petroleum Dealers Association (APPDA) called off their countrywide strike on Thursday night after the government agreed to increase their profit margins. According to an announcement, the APPDA called off the strike after it was agreed with the government that the stakeholders’ margin would be increased by 99 paisas in the motor … Read more

Kati concerned over petroleum dealers’ strike call

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Kati

KARACHI: The Korangi Association of Trade and Industry (Kati) has expressed concern over the strike call by a petroleum dealer, a statement said. Kati president Salman Aslam said that non-supply of petrol would affect the supply of finished products in the local and export goods, which could harm the industrialists and the economy. The price … Read more

OGRA takes serious notice of disrupted oil supply at petrol pumps

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ISLAMABAD: Taking serious notice of entities striving to disrupt oil supplies at petrol pumps, OGRA has advised All Oil Marketing Companies to ensure uninterrupted supply at retail outlets. “Enforcement teams are infield to ensure the same,” OGRA said in a statement. It further stated that anyone involved in oil disruptions causing public inconvenience shall be … Read more

‘Tabahi Sarkar’ creating one crisis after another: Sherry Rehman

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Dual

ISLAMABAD: Pakistan Peoples Party (PPP) leader Senator Sherry Rehman on Monday slammed the government for its failure to tackle the looming crisis of petrol and take action against those involved in the crisis in the past. In a series of tweets, Sherry Rehman said the ‘Tabahi Sarkar’ was creating one crisis after another. “Petrol had … Read more

Govt revises sales tax on petroleum products

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Govt not getting sales tax on petroleum products: Spokesperson

ISLAMABAD: The federal government has revised the sales tax rates on petroleum products to provide relief to the masses against a sharp rise in the prices of oil in the international market. According to the statement issued on Saturday, the sales tax rate on petrol has been slashed to 1.43 per cent while the sales … Read more

FBR reduces sales tax on petrol to nominal 1.43%

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Govt not getting sales tax on petroleum products: Spokesperson

KARACHI: The Federal Board of Revenue (FBR) has reduced the sales tax on petrol to a nominal 1.43 per cent effective from November 11, 2021. The sales tax rate has been reduced from 6.84 per cent to provide relief to the masses against a sharp rise in the prices of petroleum products in the international … Read more

Compressed Natural Gas prices likely to rise across Pakistan once again

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Compressed Natural Gas

The Compressed Natural Gas (CNG) Association has indicated the possibility of an increase in gas prices once again across the country.

According to Ghias Paracha, Leader of Compressed Natural Gas Association, the price of gas in Punjab will go up by Rs 18 per liter after which the price of gas in Punjab and Islamabad will be Rs 125 per liter, the price of gas in Sindh will be increased by Rs 28 per kg due to which the price of gas in Sindh will be Rs 192 per kg.

Ghias Paracha said that we are waiting for the notification of OGRA, the price of gas has been increased in some places, raising the tax on gas and reducing the tax on petrol and LPG is surprising.

Ghias Paracha said that the government should reduce the taxes in the CNG sector, the CNG sector should be given incentives like other sectors, otherwise, for the first time in the history of the country, gas will become more expensive than petrol and with this move, the country will be drowned in the flood of inflation.

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Govt reduces petrol prices by Rs1.50/litre

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Government Increases Price Of Petrol By Rs 5.40

ISLAMABAD: The government has reduced the prices of petrol, high-speed diesel and kerosene by Rs1.50/litre and light-diesel oil by Rs1/litre for the next fortnight, according to a notification issued by the Finance Division on Tuesday. The new prices of petroleum products will be MS petrol, Rs118.30; HSD, 115.03; kerosene, 86.80; and LDO, Rs84.77. The new … Read more

Mari Petroleum declares final cash dividend of Rs75/share

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KARACHI: Mari Petroleum Company Limited (MPCL) has declared a final cash dividend of Rs75/share along with the financial results for the year ended June 30, 2021. This is in addition to the interim dividend of Rs66/share already paid to the shareholders, a bourse filing said on Thursday. MPCL posted a net profit of Rs31.44 billion … Read more

Cabinet body abolishes generation licences requirement for net metering

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ISLAMABAD: The Cabinet Committee on Energy (CCoE) has approved the proposal of the Power Division for eliminating the need for generation licences for small-scale RE-based systems (up to 25kW) for net metering. The decision was taken during the CCoE meeting, held under the chairmanship of the Federal Minister for Planning, Development and Special Initiatives Asad … Read more

Govt keeps petrol, diesel prices unchanged

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Govt Decides to change prices of petroleum products every 15 days

ISLAMABAD: The government has kept the prices of petrol and diesel unchanged with effect from August 16 for the next fortnight, a statement issued by the Finance Ministry said. The petrol would continue to be sold at Rs119.80 till August 31, while the prices of high-speed diesel would remain unchanged at Rs116.53/litre. However, the prices … Read more

Aqeel Khan appointed Hascol Petroleum CEO

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Hascol Petroleum

KARACHI: Hascol Petroleum Limited has approved the appointment of Aqeel Ahmed Khan as its CEO with effect from August 5, 2021, replacing Adeeb Ahmad, who has resigned from the position, a statement said. The board has also approved the appointment of Zafar lqbal Chaudhry and Mustafa Ashraf to the board as independent directors, it added. … Read more

PSO issues tender for October fuel procurement

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PSO

KARACHI: The state-owned Pakistan State Oil (PSO) has floated several tenders for the supply of petroleum products to ensure ample availability of fuel in the upcoming winters. PSO has invited bids for the supply of three motor gasoline cargos of 45,000 tonnes each in October 2021, along with two standard size cargo each of high-sulphur … Read more

Ogra proposes Rs1.71/litre hike in petrol prices

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OGRA Sends Summary to Increase Fuel Prices From January 1

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has proposed a nominal increase in prices and decrease in diesel prices. In a summary presented before the Petroleum Division, the authority suggested an increase of Rs1.71/litre in the petrol prices and a decline of Rs2.27/litre in the prices of diesel. It also proposed an increase of … Read more

Relief to masses: Sales tax on petrol reduced to 10.77%

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Petrol price remain unchanged till 31st May

KARACHI: The Tax authorities, in a move to give relief to the masses, on Monday notified a significant reduction in the sales tax rate on petrol to 10.77 per cent. The Federal Board of Revenue (FBR) issued an SRO 937 (I)/2021 to reduce the sales tax rate on petrol to 10.77 per cent ad valorem … Read more

Govt reduces levy on petrol to zero: official

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levy on petrol

ISLAMABAD: The federal government has reduced levy on petrol to zero to lessen the burden of the rising global prices of the commodity on consumers, an official said on Saturday. In a tweet, Minister of State for Information and Broadcasting Farrukh Habib said that the government has brought down the sales tax on petrol to … Read more

FBR reduces sales tax rate on petrol to 16.4%

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FBR

KARACHI: The tax authorities on Tuesday announced a reduction in the sales tax rate on petrol to absorb the impact of higher prices of petroleum, oil and lubricants (POL) and facilitate the general public, a notification said. In this regard, the Federal Board of Revenue (FBR) issued an SRO 860(I)/2021 to reduce the sales tax … Read more

Analysts foresee massive rise in petrol, diesel prices next year

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levy on petrol

KARACHI: Analysts foresee a hefty price escalation of Rs20/litre to Rs25/litre in the retail prices of the motor spirit and high-speed diesel next year due to the present government’s ambitious target of Rs610 million Petroleum Development Levy (PDL) in FY22. “The targeted Rs610 billion in PDL collection roughly estimates to Rs30/litre on the sale of … Read more

‘Price of petrol to be slashed by Rs 1.5 per litre,’ says Finance Minister

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Petrol

Federal Finance Minister Hammad Azhar on Wednesday announced that the price of petrol will be slashed by Rs 1.5 per litre while the price of diesel will be slashed by Rs 3 per litre. According to the details, addressing a press conference today, Hammad Azhar said that, ‘After consultations with the Prime Minister Imran Khan, … Read more

Govt maintains petrol prices

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Petrol

The government of Pakistan on Sunday decided to maintain the prices of petroleum products in the country for March. According to the details, Prime Minister Imran Khan rejected the hike in the petroleum prices proposed by the Oil and Gas Regulatory Authority (OGRA). According to the summary sent to the federal government by OGRA has … Read more

Petrol Price likely to be increased by Rs. 11.95 per litre

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Petrol Price Hits Record High In Country's History

A summary from Oil and Gas Regulatory Authority (OGRA) has recommended hike of Rs. 11.95 per litre price of petrol. According to the details, the fuel prices are likely to go up after Oil and Gas Regulatory Authority (OGRA) has recommended a hike in fuel prices from January 15th 2021. The regulatory authority has conveyed … Read more

New Year’s Gift: Petrol Price Increases By Rs 2.31 Per Litre

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Petrol Price Hits Record High In Country's History

ISLAMABAD: The government has hiked petroleum prices at the beginning of the new year. According to sources, an increase of Rs 2.31 per litre in petrol price has been approved, after which the new price of petrol will be Rs 106. Besides, it has been approved to increase the price of diesel by Rs 1.80 … Read more

Petrol price to remain unchanged at at Rs100.69 per litre till December 15

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Petrol Price in Pakistan

Government of Pakistan, in its motive to provide the maximum relief to the masses, has decided to leave the prices of petrol, kerosene and light diesel unchanged till December 15. According to the details, the Oil and Gas Regulatory Authority (OGRA) recommended the petroleum division to raise fuel prices including that of petrol in December. The OGRA … Read more

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