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Third fuel price increase in less a month has Twitter fuming

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3 years ago

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Following an increase in fuel prices last night, Twitterati expressed anger over the government’s decision to hike the prices of petroleum products for the third time in less than a month.

In a bid to meet the International Monetary Fund’s (IMF) demand, Federal Finance Minister Miftah Ismail announced to increase the prices of petrol by Rs24.03, taking it to a record high of Rs233.89 per litre.

Miftah said that the government was not in a position to bear subsidies on petroleum products anymore, therefore, it has decided to raise prices.

However, the masses have expressed extreme anger over the government’s decision and came up with hilarious memes on Twitter.

A user posted an overturned picture of a car and said it fainted after the hike in fuel prices.

‘Fuel prices after every week’

Another user posted a picture of Indian actor Nawaz-ud-din Siddiqui in a ‘crying’ reaction after the fuel price hike.

‘How to make homemade petrol’ 

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PEL Ships Transformers to Start US Exports

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17 hours ago

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Through stable and efficient trade regulations, the Special Investment Facilitation Council has helped promote Pakistani industrial exports internationally.

With the first shipment of transformers departing Pakistan for the United States on March 13, 2025, Pak Electron Limited formally started exporting its goods to the United States.

PEL wants to increase its worldwide visibility and investigate new overseas prospects. Under its power and appliances segment, the company produces high-quality goods like transformers and home appliances.

Additionally, PEL has alliances with major global corporations including General Electric, Mitsubishi, and Hitachi.

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The FBR has extended the deadline for sales tax returns until March 27.

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18 hours ago

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The Federal Board of Revenue (FBR) extended the deadline for submitting Sales Tax and Federal Excise reports to March 27, 2025, to assist taxpayers.

The FBR has issued an official notification concerning the prolongation, as per reports.

The initial deadline for submitting Sales Tax and Federal Excise reports for the February 2025 tax period, originally set for March 18, 2025, has been extended to March 27, 2025.

The determination has been rendered pursuant to Section 74 of the Sales Tax Act 1990 and Section 43 of the Federal Excise Act 2005.

FBR officials indicated that the extension is intended to alleviate challenges encountered by taxpayers, permitting them to complete their returns within the specified timeframe without inconvenience.

Taxpayers are encouraged to utilize the extended deadline and submit their returns punctually to evade any possible fines.

The FBR regularly extends tax return deadlines to assist the corporate sector and facilitate seamless tax compliance.

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Stocks fall as PSX is under selling pressure.

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2 days ago

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The benchmark KSE-100 Index dropped more than 600 points during Monday’s opening trading hours, sending the Pakistan Stock Exchange (PSX) plunging.

The benchmark index had dropped 635 points and was now trading at 117,806.25.

The PSX’s decline was attributed primarily to selling pressure.

Important industries include fertilizer, auto assemblers, refineries, OMCs, and oil and gas exploration firms. Due to widespread selling, index-heavy stocks such as EFERT, INDU, MARI, OGDC, PPL, and PSO saw negative trading.

Remember that throughout the past week, the PSX has been in a bullish trend, reaching historical highs.

This prolonged increase was fueled by hope for a possible staff-level deal for the International Monetary Fund’s (IMF) $1 billion second EFF tranche.

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