Tag: Higher

Refineries continue to grab gains of higher oil prices

KARACHI - Local refineries are still taking advantage of higher oil prices primarily due to a 7.5 percent deemed duty on High Speed Diesel (HSD). The deemed duty is fixed in percentage terms, however, it varies in absolute terms on fluctuating international oil prices. The deemed duty on diesel (HSD) has hit a 30-month high, reaching $9.0 per barrel. This could inflate further incase oil prices remain firm. If this happens, National Refinery Limited (NRL) and Attock Refinery Limited

Opposition rejects higher POL prices

ISLAMABAD - The political parties in the opposition on Thursday refused to allow the government's planned increase of 13 percent in petroleum prices from February 1 and recommended that the burgeoning fiscal deficit be curtailed with better financial management.
According to a source, the Ministry of Petroleum had informed the committee that they were compelled to increase the petrol price by 13 percent to Rs 9.43 per litre and diesel price by 12 percent to Rs 9.20 per litre from

Higher tariffs or unemployed workers, KESC tells govt to decide

KARACHI - The Karachi Electric Supply Company (KESC) has pinned the permanent reinstatement of over 4,000 workers on a Rs 1.79 per unit tariff increase as well as government institutions clearing the power utility's outstanding dues, Pakistan Today has learnt.
Other demands forwarded by the KESC include the provision of cheaper electricity from WAPDA and ensuring the smooth supply of natural gas from the Sui Southern Company (SSGC), sources told Pakistan Today.
Much of

Steel mills face higher costs after Australian floods

SYDNEY - Spot coking coal prices have risen around 10 percent in a month and look set to move sharply higher as Asia's steel mills scour the globe for new suppliers to cover production lost to Australian floods.
More than two months of torrential rains in Australia's Queensland state, the world's largest exporter of coal for steel-making, have left collieries underwater, rail lines inoperable and coal ports running at a trickle - if at all.
Spot prices for coking coal are at

Pakistan’s 2010 anti-terror losses higher than ever

ISLAMABAD - The nation paid more price for its support to the US-led war on terror in 2010 than ever, with around 1,544 Pakistanis getting killed and 3,571 being injured in 467 bomb blasts across the country.
The figures are much higher than 1,018 killings in 80 suicide attacks in 2009, 917 in 59 suicide attacks in 2008 and 787 deaths in 58 suicide attacks in the year 2007.
According to the data available with Pakistan Today, November 5 attack at Darra Adamkhel remained the

Pakistan buying Indian cotton at higher rates: traders

ISLAMABAD: Pakistani traders have inked fresh contracts on new rates to import cotton from India, after Indian exporters delivered little under previous deals on lower prices, Pakistani industry officials said on Wednesday.
Textile firms in the world's third-largest cotton consumer have banked on neighbouring India to meet demand after massive summer floods damage to the domestic crop caused an estimated shortfall of approximately four million tonnes.
Pakistan's textile

Higher cotton productivity imperative

LAHORE: Participants of an opinion-formation seminar have evolved consensus that ameliorating cotton productivity is essential for the economic development of Pakistan.
The seminar, held at the All Pakistan Textile Mills Association (APTMA) Punjab office, was organised by the Pakistan Cotton Forum (PCF). Punjab Secretary Agriculture Dr Arif Nadeed and Agriculture Research and Advocacy Centre (ACAC) representative Muhammad Ahsan Rana made a detailed presentation and answered