Business

On the brink of winter, LPG prices jump by nearly Rs3/kg

Published

2 years ago

Farwa

Domestic LPG cylinder new price notified at Rs2,409.16.
Price of commercial cylinder climbs to Rs9,269.
Pakistan braces for energy crisis in winter.

ISLAMABAD: The Oil & Gas Regulatory Authority (OGRA) has jacked up the prices of liquefied petroleum gas (LPG) for November by Rs2.96/kg to Rs204.16/kg, an official notification showed on Tuesday.

This increase has made the domestic LPG cylinder (11.8kg) expensive by Rs34.91, while the commercial one (45.4kg) will see a jump of Rs134 in price.

Last month, the domestic cylinder of the liquefied gaseous fuel was available at Rs2,374.25 but its price for November will be Rs2,409.16. The price of the commercial cylinder has also climbed to Rs9,269.

Earlier, the Oil and Gas Regulatory Authority (OGRA) reduced the price of Liquefied Petroleum Gas (LPG) up to Rs10.32/kg. The OGRA issued a notification regarding the reduction of LPG prices up to Rs10.32/kg.

The price of LPG was fixed at Rs201.20/kg for October 2022.

A day earlier, the government maintained a status quo in the prices of petroleum products for the next fortnight.

Finance Minister Ishaq Dar made this announcement ahead of the International Monetary Fund meeting.

Business

Robust activity lets PSX climb above 115,000 level again.

Published

2 days ago

Farwa

On Friday, the Pakistan Stock Exchange (PSX) resumed its upward trend, crossing 115,000 points once more.

The PSX had strong action in the morning session, as the KSE-100 index increased by 1,000 points to 115,138.

The notoriously volatile PSX closed Thursday at 114,037 points, up 594 points.

DOLLAR DEPRECIES

Meanwhile, in the interbank market this morning, the US dollar fell 7 paisas to Rs278.65 against the Pakistani rupee.

Business

SBP will announce monetary policy on January 27.

Published

2 days ago

Farwa

The State Bank of Pakistan (SBP) will release its monetary policy on Monday.

The Monetary Policy Committee (MPC) of the SBP will convene on the first day of the following week to make decisions on monetary policy.

The Monetary Policy decision will be announced by Governor SBP Jameel Ahmad at a news conference on the same day after the MPC meeting, according to an official release.

In December, the central bank reduced policy rates by 200 basis points (bps) to 13 percent.

“In November 2024, headline inflation fell to 4.9 percent year on year, meeting the MPC’s estimates. This decrease was mostly caused by the ongoing decline in food inflation and the phasing out of the impact of the gas tariff increase in November 2023,” SBP stated in an official release.

“However, the Committee noted that core inflation, at 9.7 percent, is proving to be sticky, while consumer and business inflation expectations remain volatile.” To that end, the Committee restated its previous assessment that inflation may remain volatile in the short term before stabilizing within the target range.

“At the same time, growth prospects have slightly improved, as evidenced by a recent increase in high-frequency indicators of economic activity.” Overall, the Committee concluded that its approach of gradual policy rate decreases is keeping inflationary and external account pressures under control while promoting long-term economic growth.

Business

Finance Minister Meets With World Leaders at World Economic Forum in Davos

Published

3 days ago

Farwa

During his attendance at the World Economic Forum in Davos, Switzerland, Finance Minister Muhammad Aurangzeb has met with officials of organisations and leaders of many nations.
Bangladesh’s Chief Advisor, Muhammad Younas, met with Mohammad Aurangzeb.
On the fringes of the World Economic Forum’s Annual Meeting 2025 Opening Banquet, there was an informal meeting.
Additionally, the Finance Minister met with Anwar Ibrahim, the Prime Minister of Malaysia.
Both leaders discussed economic cooperation and bilateral ties.
Muhammad Aurangzeb also had a meeting with Dp World’s Rizwan Soomro and Yuvraj Narayan.
They talked about how to strengthen Pakistan’s logistics and infrastructure systems to support trade.
“The Pakistani government is committed to advancing joint projects and values partnerships in both business-to-business and business-to-government cooperation,” the finance minister added.