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No Petrol Be Available from July 5 : Pakistan Petroleum Dealers

4Jul

By Tahreem AkramNo Comments

Pakistan

No Petrol Be Available from July 5 : Pakistan Petroleum Dealers

The Pakistan Petroleum Dealers Association (PPDA) has declared a nationwide strike starting July 5. This action is in protest against the newly implemented 0.5% advance tax on turnover, included in the federal budget for 2024-25. The PPDA claims that this tax will severely harm their businesses, which are already struggling due to high taxes and inflation. PPDA Chairman Abdul Sami Khan stated that the strike might extend beyond one day and advised dealers to keep their petrol pumps stocked until July 4. He also urged citizens to fill their vehicles before the strike begins. “We met with the finance minister, the chairman of the FBR, officials of the Petroleum Division, chairman of OGRA, and DG Oil, DG Explosive but the talks yielded no results, which is why we are striking. Doubl...

2Oct

By Azmat ShabbirNo Comments

Latest

Petrol prices decreased by 12.63 rupees

After a successive increase in petrol prices, current government has announced a reduction, which is breath for people suffering from inflation. Addressing media in Islamabad on Friday, “In his first press conference, newly appointed Finance Minister Ishaq Dar announced a huge shortfall of billions of rupees. A chart of new prices will come at midnight tonight, the newly appointed finance minister said in his press conference. “Petrol prices reduced by Rs 12.63 to Rs 224.80 per liter from Rs 237.43. Similarly the price of high-speed diesel reduced by Rs 12.13. Now it will be sold at Rs 235.30, down from the current Rs 247.43,” Finance Minister said. New price of kerosene will be Rs 191.83 after a reduction of Rs 10.19. And the price of light diesel oil will be ...

Petrol and Diesel consumption decreased in June in Pakistan

9Jul

By Aqsa Azam1 Comment

Business

Petrol and Diesel consumption decreased in June in Pakistan

Petrol and diesel consumption decreased by 12% and 16% respectively in the month of June in Pakistan. The imposition of taxes and ending the subsidies on fuel have affected badly to the people around the country. In the past few months, Pakistan has faced many challenges due to inflation. People around the country are not satisfied with the new government. They have ended the subsidies on petrol and diesel. This has increased the fuel price from 150 to 250 till now. It is due to the imposition of taxes as well. Due to this, the petrol and the diesel demand is decreased by 12% and 16% respectively. Three types of vehicles mainly consume fuel. It includes two, three, and four-wheeler vehicles. However, industrial and agriculture sectors consume diesel. The buying power of the peop...

Mari Petroleum announced discovery of massive gas reservoirs

4Jun

By Muhammad Dastageer Shams1 Comment

Latest

Mari Petroleum announced discovery of massive gas reservoirs

Mari Petroleum Company Limited (MPCL) has found a major gas repository of one trillion cubic feet in North Waziristan. Which will be useful in saving the country's unfamiliar settlement of roughly $1.5 billion for every annum. As per the MPCL, the creation of 25 million cubic feet of gas has begun from the ST-1 exploration well drilled in Bannu west block, situated in North Waziristan, Khyber Pakhtunkhwa. Also, more gas supply from different wells will be 200 million cubic feet each day (MMCFD). Additionally, raw petroleum creation from the Bannu west block has likewise begun. “This is good news, after a long time, for an energy-starved country. As it estimated that this reservoir will produce approximately 15 percent of the total gas production of the country.” Said a source relate...

Petrol and electricity price hike, public in chaos

4Jun

By Muhammad Dastageer Shams1 Comment

Latest

Petrol and electricity price hike, public in chaos

The government on Thursday strongly expanded fuel costs for public consumers by PKR 30 per liter to figure out an agreement with International Monetary Fund (IMF) preparing to save a $6 billion bailout bundle and settle the country's cratering economy in the midst of extending political disturbance. Moreover, The move raised fuel cost by around 20% taking it to the record high of 209.86 PKR per liter, fighting off worries that Pakistan, as of now faces twofold digit expansion. Moreover, The PML-N-drove alliance government expanded the costs of oil-based commodities by a similar sum on May 26. The greatest climb in the country’s history. In the interim, National Electric and Power Regulatory Authority (NEPRA) has supported an Rs. 8 for each unit expansion in power rates for the follo...