Business News
-
Saudi firm acquires majority stake in Shell Pakistan | The Express Tribune
.
[ad_1] ISLAMABAD: In a significant move, Royal Dutch oil company Shell has reached an agreement to sell its 77.42% majority stake in Shell Pakistan Limited (SPL) to Saudi firm Wafi Energy LLC. This decision comes as Shell reorganises its global business, and the sale aligns with its strategy to enhance its mobility network. The transaction…
-
Power tariff hike of 54 paisa per unit sought | The Express Tribune
.
[ad_1] ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Wednesday grilled the Central Power Purchasing Agency-Guarantee (CPPA-G) for expensive electricity generation while ignoring cheaper, local coal-based production, which put an additional burden on consumers. At a public hearing, the CPPA-G sought an increase of Rs0.5471 per kilowatt hour (kWh) in electricity price on account…
-
With larger fall, rupee near 1-month low | The Express Tribune
.
[ad_1] KARACHI: Pakistani currency on Wednesday hit nearly one-month low above Rs282.50 against the US dollar in inter-bank market, as it maintained the losing streak for the eighth consecutive day ahead of first IMF review under the $3 billion loan programme. According to State Bank of Pakistan’s (SBP) data, the rupee lost 0.42%, or Rs1.18,…
-
Shell to sell majority stake in Pakistan unit to Saudi oil firm
.
[ad_1] A view of a closed petrol pump due to fake news of petrol price hike again in the country. — Online/File Shell Pakistan said its parent company’s unit, Shell Petroleum Company, has signed a deal to sell its 77.42% majority interest to Saudi Arabia-based Wafi Energy LLC, according to an official statement issued by…
-
Caretakers maintian petrol price for next fortnight
.
[ad_1] Fuel station worker fills petrol in a motorcycle at a petrol pump in Karachi in this undated image. — Thenews.com.pk ISLAMABAD: The caretaker government maintained the price of petrol in Pakistan at Rs283.38 per litre, giving respite to the inflation-weary masses. According to a notification from the Ministry of Finance, the price of petrol…
-
‘Pakistan to focus on indigenous, renewable energy sources’ | The Express Tribune
.
[ad_1] ISLAMABAD: In a meeting with the Ambassador of China to Pakistan, Jiang Zaidong, Caretaker Federal Minister Muhammad Ali conveyed Pakistan’s commitment to shaping its future energy landscape with a strong emphasis on indigenous and renewable sources. The minister highlighted the potential areas for collaboration between China and Pakistan, citing renewables, transmission networks, and DISCOs…
-
FBR beats target, collects Rs2.75tr in Jul-Oct | The Express Tribune
.
[ad_1] The Federal Board of Revenue (FBR) has beaten the revenue target for the fourth consecutive month with collection of Rs2.75 trillion in July-October and decided to go after one million non-filers of income tax returns after receiving a poor response from the people. While the FBR exceeded its July-October tax collection target by Rs68…
-
Pakistan hopeful of successful IMF review
.
[ad_1] Caretaker Prime Minister Anwaar-ul-Haq Kakar talking to the media in Lahore, on October 31, 2023, in this still taken from a video. — YouTube/PTV The caretaker government is hopeful of successfully concluding the upcoming review of the International Monetary Fund (IMF) scheduled next month, interim Prime Minister Anwaar-ul-Haq Kakar said Tuesday. An IMF mission led…
-
After much ado, increase in gas rates approved | The Express Tribune
.
[ad_1] ISLAMABAD: The federal cabinet on Monday approved up to 193% increase in gas prices to recover an additional Rs350 billion from consumers in this fiscal year while making some further adjustments in the recommended rates for industrial and CNG consumers. Headed by Prime Minister Anwaarul Haq Kakar, the cabinet approved up to 172% increase…
-
Caretaker govt okays huge gas price hike
.
[ad_1] A flame burns on a gas stove. — AFP/File ISLAMABAD: The caretaker government on Monday approved a massive increase in gas prices to add to the woes of inflation-hit masses who have been battling with soaring utility bills. The new prices, effective from November 1, will see up to 173% increase in gas prices…
