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The Pakistan government has made a decision to maintain the prices of petroleum products, according to an announcement made by the Petroleum Division. The announcement states that the prices of petroleum products will remain the same until further notice, with petrol priced at Rs. 321.17 per liter and high-speed diesel at Rs. 335.86 per liter.
In a statement, the Prime Minister said that the government will provide relief to the public to the extent possible in these difficult times, living up to its promises. It is worth noting that the Prime Minister had made a decision earlier to not increase the prices of petroleum products despite the global price hike.
The Prime Minister had stated that the prices of petroleum products would not be increased to reduce the burden on the common man. The announcement comes as the global price of oil is increasing due to various factors.
Meanwhile, the gold prices in the local market have decreased for the third consecutive day. The prices of gold in the local market have decreased by Rs. 2,486 per 10 grams, with the price now standing at Rs. 463,273.
The Securities and Exchange Commission of Pakistan (SECP) has announced an increase in the limit for investment through a simple account to Rs. 3 million from Rs. 2.5 million.
The Karachi Port, which is the economic hub of Pakistan, has established a new feeder service for the United Arab Emirates. The notification states that the price of LNG on the Sui Southern Gas Company’s system will increase by $2.26 per MMBtu.
In other news, the US administration has launched an investigation into alleged unfair trade practices by 16 major trading partners, including China, India, and Bangladesh. This move could lead to new import taxes being imposed by the US by the end of summer.
The International Monetary Fund (IMF) and the Pakistani delegation have released a statement after their recent talks. French Central Bank Governor Francois Villeroy de Galhau has warned that new subsidies may not be enough to mitigate the effects of rising fuel prices.
In a separate development, the UAE has announced an increase in the prices of liquefied petroleum gas (LPG) by 5% from Rs. 5,432,262 to Rs. 5,436,262 per ton. The S&P BSE Sensex has increased by 0.4% to 78,897 points, after closing at 1,561,177 points the previous day.
It has also been reported that a global company has not shown interest in supplying three ships to Pakistan. Social media has been filled with various claims and rumors, including a video message from Israeli Prime Minister Benjamin Netanyahu to the Iranian Supreme Leader, threatening Iran with military action.
In a separate statement, Pakistani cricketer Babar Azam congratulated Shaheen Afridi on his outstanding performance, saying it was an honor to play under his leadership. Abbas Iraqi also commented on the situation, saying that the US is begging other countries, including China, to help secure the Strait of Hormuz.
Iranian forces have claimed to have launched missile attacks on US forces in the UAE and Saudi Arabia using drones and missiles. Pakistani cricket board has honored Sarfaraz Ahmed with a special shield for his invaluable services to Pakistani cricket.
In a statement, Iranian forces said that they had targeted enemy objectives across the region with precise and decisive attacks, using multi-platform, long-range, and targetable missiles.
