Sui Southern Gas Company (SSGC) and Sui Northern Gas Pipelines Limited (SNGPL) have expressed reservations about the government’s decision to allow third parties to sell up to 35% of their gas. However, officials from the Petroleum Ministry have clarified that this decision will not cause any financial loss to the Sui companies. According to the Petroleum Ministry, the Sui companies currently have 1,500MMCFD (million cubic feet per day) of gas available, and third-party sales will account for only 2.5% of this volume. Officials further explained that this move will also result in a 2.5% increase in the annual tariff of…
Author: Raja Zahid Khanzada
Gold prices in Pakistan have crossed the historic Rs300,000 mark for the first time, following a slight increase on Friday, reflecting global market trends. In the local market, the price of 24-karat gold per tola rose by Rs1,346, reaching the highest-ever price of Rs300,046, according to data shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). Similarly, the price of 10 grams of 24-karat gold increased by Rs1,154, taking it to Rs257,241. Gold Price Rises Globally In the international market, gold prices also saw a rise of $10 on Friday, reaching $2,869 per ounce with an additional premium of…
Global rating agency Fitch has stated that Pakistan is making progress toward restoring economic stability. In its latest report, Fitch emphasized that structural reforms are crucial for Pakistan’s debt profile. Progress on challenging reforms is key to the International Monetary Fund (IMF) review, as well as bilateral and multilateral financing. According to the report, the State Bank’s decision to reduce the interest rate to 12% signals lower consumer inflation. The average inflation rate was 24% until June, which has since dropped to slightly over 2% in January. Fitch Upgrades Pakistan’s Credit Rating Fitch has upgraded Pakistan’s credit rating. The agency…
Pakistan’s nationwide campaign against power theft has resulted in the recovery of Rs 146.64 billion since its launch in September 2023, according to official figures released by authorities. The ongoing operation has led to the arrest of 115,280 individuals across the country for electricity theft, reflecting the extensive scope of the enforcement actions. In the past week alone, authorities apprehended 174 individuals and recovered more than Rs 970 million. This anti-power theft initiative is part of broader government measures aimed at addressing the country’s economic challenges and alleviating the ongoing energy crisis. Relevant agencies have expressed their commitment to continuing…
The Reserve Bank of India (RBI) has reduced its key repo rate for the first time in nearly five years, aiming to provide stimulus to the sluggish economy, which is expected to grow at its slowest pace in four years during the current fiscal year. The Monetary Policy Committee (MPC), consisting of three RBI members and three external members, reduced the repo rate by 25 basis points to 6.25%, following eleven consecutive policy meetings with no changes. This decision was in line with a Reuters poll, where 70% of economists had predicted a quarter-point reduction. It marked the first reduction…
Apple’s fourth-generation iPhone SE is generating significant buzz, with rumors pointing to a major overhaul since its launch. Abandoning the unique home button and hefty bezels that defined past versions, the new iPhone SE will embrace the current design language of the iPhone 14. Touch ID in Apple’s iPhone series ends with this shift to Face ID verification. Apple’s First In-House Modem Chip The iPhone SE 4 will feature Apple’s first in-house modem chip, marking a major step toward silicon independence. While this custom modem may not be as performance-wise as Qualcomm’s latest products, it marks Apple’s first step toward…
The much-awaited Nokia Dragon Pro is generating significant buzz in the tech community as it nears its official release. With rumors swirling about its advanced features and exceptional performance, this flagship device is expected to be a game-changer in the smartphone market. Here’s everything you need to know about the Nokia Dragon Pro ahead of its official launch. Expected Price The Nokia Dragon Pro is expected to be priced at approximately PKR 311,011 in Pakistan. While this is an estimated price, it positions the device as a high-end flagship smartphone, reflecting its premium features and cutting-edge technology. Nokia Dragon Pro…
Grand Theft Auto VI (GTA VI) is arguably one of the most awaited video games in history. Rockstar Games has kept many details about the game under wraps, but leaks and reports have begun to shed light on some exciting features. From a massive map to new gameplay mechanics, GTA 6 is shaping up to be a monumental upgrade. Here’s everything that is known so far, including the expected price, release date, and rumored gameplay changes. GTA 6 Expected Price Due to rising development costs, GTA 6 is rumored to be more expensive than previous GTA titles. The standard edition…
Astronomers have recently raised the chances of a large asteroid striking Earth! According to NASA’s Center for Near-Earth Object Studies (CNEOS), the chances of asteroid 2024 YR striking Earth in 2032 have been calculated to be 2.3%, or a 1-in-43 chance. Just a week earlier, the European Space Agency (ESA) had estimated a 1.3% chance of a collision on December 22 of that year. The asteroid, measuring up to 300 feet (90 meters) in width, is about the same size as the one that caused the Tunguska event in 1908. Before the new year, the asteroid was spotted by NASA-funded…
Bill Gates recently revealed an interesting conversation he had with Steve Jobs, during which Jobs gave him surprising advice. Gates told Fortune that Jobs once told him he should have used some drugs while designing computer products. He said in The Independent, “Steve Jobs once said that he wished I’d take acid because then maybe I would have had more taste in my design of my products.” Jobs revolutionized product design in the 1990s and early 2000s, making it a key aspect of the tech world with the launch of products like the iPod, iMac, iPad, and iPhone. On the…
