Pakistan faces a significant increase in Liquefied Natural Gas (LNG) prices, as the Oil and Gas Regulatory Authority (OGRA) has announced a hike of $2.26 per MMBtu for March. The new prices come into effect immediately, with Sui Southern Gas Company’s system seeing an increase of $2.26 per MMBtu, while Sui Northern Gas Pipelines Limited’s system will see a rise of $2.22 per MMBtu.
The new prices for LNG are $12.53 per MMBtu for Sui Southern Gas Company’s system and $13.55 per MMBtu for Sui Northern Gas Pipelines Limited’s system. This development comes as Pakistan’s currency market continues to struggle, with gold prices falling for the third consecutive day. According to a statement from the Petroleum Division, petroleum products will remain at their current prices until further notice. However, the district of Karak has imposed a ban on the sale of petroleum products in bottles and gallons.
In a separate development, the Securities and Exchange Commission of Pakistan (SECP) has increased the limit for a trading account to $300,000 from $290,000. The Pakistan Stock Exchange (PSX) saw a negative trend in the previous trading week, and gold prices continued to fall for the second consecutive day in the country’s currency market.
In a recent development, the Port of Karachi-based Pakistan Federal Service has launched a new feeder service to the United Arab Emirates. The price of 10 grams of gold in Pakistan has decreased by Rs. 2,486 to Rs. 463,273. The US administration, led by President Donald Trump, has initiated an investigation into alleged unfair trade practices by 16 major trading partner countries, including China, India, and Bangladesh, which may lead to new import tariffs by this summer.
A statement from the International Monetary Fund (IMF) has been issued following recent talks between Pakistan’s delegation and the IMF. In light of the country’s financial situation, the Governor of the Bank of France, François Villeroy de Galhau, has warned against introducing new subsidies to mitigate the effects of rising fuel prices.
According to a statement from OGRA, the prices of liquefied petroleum gas (LPG) have increased by Rs. 5,432,262 to Rs. 5,434,262 per ton. The S&P BSE Sensex has seen a 0.4% increase to 77,897 points, while the 100 Index closed at 1,561,177 points on the last day of trading. Sources indicate that no international company has expressed interest in supplying three ships to Pakistan.
In a separate development, US President Donald Trump has expressed hope that countries such as China, France, Japan, South Korea, the UK, and others will supply warships to Pakistan. The International Cricket Council (ICC) has officially reprimanded Pakistani batter Salman Ali Agha for a Level 1 breach of the ICC Code of Conduct and imposed a one demerit point on him.
In a recent statement, Prime Minister Shehbaz Sharif has announced that the government will implement cost-cutting measures, including a 5-30% reduction in salaries of employees working in government-owned and government-supported autonomous institutions, as part of its austerity measures. The Pakistan Cricket Board (PCB) has announced that Hussain Talat’s left shoulder has been dislocated, and he will not be able to participate in the second ODI against Bangladesh.
In related news, operations under the “Operation Wrath of Allah” will continue until their objectives are met, according to security sources.
