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The prices of petroleum products are likely to drop effective next month (April) in the backdrop of appreciating rupee and the general expectations of the people to share the benefits of huge windfall gains due to cheaper dollar, Geo News reported.
Sources said that the prices of petroleum products likely to be slashed by Rs1-1.50 and, thereby, petrol price would go down to Rs108.50 from Rs110 and diesel to Rs116 from Rs116.75.
Following significant fall in the price of dollar by Rs7.22 recently, petroleum products prices could have been decreased by Rs2-2.50, but for the increase in revenue, the cut in POL prices expected by Rs1-1.50 only leaving a substantial Rs2 billion additional income for the government.
Oil and Gas Regulatory Authority (OGRA) will be sending the POL prices summary in the end of the current month and the prices for the moth of April will be formally announced on March 31.
Oil prices were mixed in Asian trade Monday as investors focused on upbeat US economic growth data, raising hopes of resurgent demand in the world´s top crude consumer.
New York´s main contract, West Texas Intermediate for February delivery, was down five cents at $99.27 in mid-morning trade while Brent North Sea crude for February gained five..... Read more
Positive trend continued at local equity market on Thursday and the KSE 100-index touched new height after addition of 69 points.“PTCL’s result generated investors’ interest in all telecom stocks.
PTCL closed at its upper limit while Telecard, WorldCall and Wateen Telecom also performed well as investors are expecting better results a..... Read more
Asian shares were mixed Monday following positive economic data from the United States and China as the Communist Party meets to plot the course for the world's second largest economy over the next decade.
Trading sentiment was buoyed by strong US jobs figures and by healthy industrial production figures out of China -- further evidence of a steady recove..... Read more
