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Articles for tag: calling, ex, Gas, Government, HCSTSI, hike, increase in the price of natural gas, International Monetary Fund, Latest, price, Traders, withdraw

February 16, 2024

News Desk

Traders are calling on the government to withdraw the gas price hike

KARACHI: Hyderabad Chamber of Small Traders and Small Industries (HCSTSI) President Muhammad Farooq Shaikhani has hit out at the Economic Coordination Commission (ECC) for its decision to make a massive 65% hike in gas tariffs. He appealed to all political leaders and rulers of the country to immediately withdraw the increase in the price of natural gas to restore the confidence of the business community and encourage collective efforts to stabilize the national economy. He urged them to reconsider the decision, pointing out that in developed countries utilities are not exploited for financial gain. He argued that the government’s focus

February 15, 2024

News Desk

ECC OKs massive gas price hike

— APP/file ECC lights slight hike in tariffs for protected consumers. Only the finance and energy ministers know the exact increase in natural gas tariffs. Roti tandoor, commercial, electricity sector is exempted from cess. ISLAMABAD: Amid the ongoing economic crisis, the caretaker government on Wednesday burdened the masses with yet another gas price hike at the request of the International Monetary Fund (IMF). According to a The news report released today, the Economic Coordination Committee (ECC), which met under the chairmanship of Finance Minister Dr Shamshad Akhtar, also gave the go-ahead for a slight increase in duty on protected consumers

February 14, 2024

News Desk

ECC shared the gas price increase by 69%.

Islamabad: Federal cabinet members remained divided on Tuesday over a proposed hike of up to 69 percent in gas prices, amid warnings that any delay beyond Thursday could cost Pakistan $1.2 billion, the latest loan tranche from the International Monetary Fund. The Cabinet’s Economic Coordination Committee (ECC) had to delay approval after alleged cabinet members of the pro-IMF program also spoke out against the new price hike, according to meeting participants. Industries Minister Dr Gohar Ejaz, representing the textile industry, opposed the hike in gas prices for industrialists’ domestic power plants that are powered by cheaper gas. Two other members

February 13, 2024

News Desk

Diesel price may increase by Rs 8 per litre

Islamabad: After raising the price of petrol by Rs 13.55 per liter to Rs 272.89 from February 1, the caretaker government looks set to increase the rate of high-speed diesel (HSD) by Rs 8 per liter with effect from February 16 . Petrol price may also see a marginal increase of 80 paise per litre. According to calculations, the price of HSD will be increased due to the fluctuation of global oil prices. The price of diesel may increase from Rs 278.96 per liter to Rs 286.97 per liter in case the caretaker government hikes its price, depending on the

February 11, 2024

News Desk

The government is considering increasing the price of urea

The Finance Department has reiterated its stand that no additional subsidy will be provided for supply of urea once the proposed basket price mechanism is implemented. photo: file Islamabad: The government is considering allowing fertilizer makers to raise urea prices by up to Rs 358 per bag, shifting the entire import burden of over Rs 30 billion to farmers. As part of the scheme, manufacturers were granted the basket price of imported and locally produced urea to pass on the full burden of Rs 220,000 worth of imported urea to farmers. Agritech, a prominent player in the industry, has proposed

February 4, 2024

News Desk

There is no room for price reduction

PADALARANG: Indonesia’s central bank has room to cut interest rates this year to boost economic growth, but expects the rupiah to strengthen against the dollar, Governor Perry Warjiyo said on Saturday. “If we rush while the global situation is in disequilibrium, the rupiah may weaken and inflation may spiral out of control,” he told a media gathering. He said global economic fragmentation caused the imbalance. Bank Indonesia (BI) raised its key interest rate by 250 basis points from August 2022 to October 2023 to 6% to ensure the stability of the rupiah and keep inflation under control. Warjiyo has repeatedly

February 1, 2024

News Desk

The auction price of Lionel Messi’s first contract will leave you amazed

According to reports, the contract will be auctioned on behalf of Lionel Messi’s agent, Horacio Gaggioli. Argentina forward Lionel Messi waves as he warms up during the 2026 FIFA World Cup soccer match between Brazil and Argentina at the Maracana Stadium in Rio de Janeiro, Brazil on November 21, 2023. — AFP Argentine forward and world-famous footballer Lionel Messi’s first contract with Barcelona — signed on December 14, 2000 — is set to be auctioned in March for €350,000. The contract in its original form was drawn up on a napkin when the footballer was 13 years old and convinced

January 19, 2024

News Desk

Pak Suzuki agrees to 50% increase in buyback price

KARACHI: Pak Suzuki Motor Company has agreed to raise its share price under a buyback plan to Rs 609 per share to qualify for delisting from the Pakistan Stock Exchange (PSX). Earlier, the Japanese carmaker had offered to buy back its shares from the general public at Rs 406 per share in the first week of December 2023. However, PSX’s voluntary delisting committee a few days ago fixed the buyback price at Rs 609 per share, which was almost 50% higher compared to the company’s proposed price. In a notice sent to the PSX on Thursday, Pak Suzuki Motor said

January 14, 2024

News Desk

Petrol price likely to come down by over Rs 5 in upcoming revision

A worker at a gas station fills the gas tank of a motorcycle. — AFP/File The caretaker government may reduce the price of petrol by Rs 5.32 per litre. Working on new POL rates to be implemented from January 16th. Kerosene price is also likely to drop by Rs 3.20 per litre. Islamabad: Petrol price is expected to drop by over Rs 5, while High Speed ​​Diesel (HSD) may see no change in the upcoming fuel price revision, The news sources said on Sunday. According to the report, the caretaker government may reduce the price of petrol by Rs 5.32

January 10, 2024

News Desk

Spot Bitcoin ETF Approval Sparks Industry Price War, Speculation Over Market Impact

Cathie Wood’s ARK Invest, in partnership with 21Shares for a bitcoin ETF, initially offered 0.8% Spot Bitcoin ETF approval sparks industry price war and speculation over market impact.—Reuters As cryptocurrency investors await the SEC’s possible approval of several spot bitcoin ETF applications this Wednesday, the focus is shifting to the intricacies of trading dynamics, the costs involved and the potential impact on Bitcoin’s valuation. In a competitive landscape with nearly a dozen ETFs vying for attention, a modest price war has emerged. For example, Cathie Wood’s ARK Invest, partnering with 21Shares on a bitcoin ETF, initially proposed a 0.8% fee,

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