December 31st, 2008 by The Online Reporter
Petrol once again vanished from petrol pumps after its price devaluation in Lahore city. There are very few petrol pumps where petrol and diesel are available but petrol pump owners are selling it Rs. 100 per liter which is an open mugging but authorities are unable to stop them.
This funny newspaper cartoon is also showing that situation of Read the rest of this entry »
November 30th, 2008 by The Online Reporter
The Oil and Gas Regulatory Authority (OGRA) has forwarded a summary to the Petroleum Ministry to reduce petrol price by Rs 8 per liter, diesel by Rs 5 per liter and the prices of other petroleum (POL) products by 5 percent. Sources told that new prices would be imposed from Monday (December 1st), adding that the ministry had amended the summary and sent it to the Finance Ministry for final approval. The ministry has suggested a reduction in petrol price by Rs 6 per liter, in diesel Read the rest of this entry »
November 22nd, 2008 by The Online Reporter
Oil and Gas Regulatory Authority, in its determination made public on Friday, recommended that the Sui Northern Gas Pipelines Limited should be allowed to increase the natural gas price by 7.67 per cent as against the state-owned utility company demand of over a 40 per cent raise. Similarly, the OGRA has also prescribed gas price increase by 6.83 per cent for the Sui Southern Gas Company Limited (SSGCL), slashing its demand to increase tariff by 41 per cent.
November 14th, 2008 by The Online Reporter
It has been announced that consumers who will consume 100 to 450 units per month will get 13 percent discount in their next electricity bills. This relief will benefit domestic consumers up to 40 billion rupees.
It must be noted that government did not issue any official notification till now regarding this electricity price reduction. According to government price calculation is in process for industrial and commercial level Read the rest of this entry »
October 29th, 2008 by The Online Reporter
Moody’s Inverters Service lowered Pakistan’s ratings to B3 which can cause more problems for government of Pakistan to get funds to avoid default situation.
The rating on Pakistan’s government bonds was reduced by Moody’s to B3 from B2, six rankings below investment grade and the same level as Argentina, Lebanon and Bolivia.
“This adds to Pakistan’s economic difficulties,’’ said Habibur Rehman at Atlas Asset Management. “The IMF now seems to be the last option.’’
