Tag: Price

KARACHI - The second half of the financial year bodes well for both Nishat Mills Limited (NML) and Nishat Chunian Limited (NCL) as cotton prices are likely to grow robustly in the local and international market. According to the Cotlook A Index and Karachi Cotton Association, cotton prices are currently hovering around $2.28 per pound and Rs 12,500 per maund, respectively.
Timely investment in cotton during the buying period (September-December) for both companies has allowed

KARACHI - Sindh Home Minister Dr Zulfiqar Mirza said at a reception in his honour hosted by the Timber Merchant Association here at PPP offices on Thursday that he was disappointed because the Muttahida Qaumi Movement had asked for a very low price to stay in the coalition: (depriving him of) his ministerial portfolio.
Mirza said he had applied for a leave to go meet his daughter three months ago, which had been approved now, a statement that ran contrary to earlier ones where

KARACHI - The price of gold has surged to a record high of Rs 46,350 per tola (11.665 grams) due to a price hike in the international market. As the trend in gold prices was sustained in both local and international markets, gold traded at the record high of Rs 46,350 per tola in Pakistan.
According to sources the bullion rates have climbed to the highest level, surpassing the previous record of Rs 46,000 a tola, while the international spot gold rates rose to $1,444 an ounce

ISLAMABAD - The Liquid Petroleum Gas (LPG) Dealers Association has increased the price of LPG by Rs 4 per kilogram, which would come into force with immediate effect.
The spokesman of LPG dealers association told Online that the price was enhanced because of increase in rates in international market which he said had mounted by 40 to 45 USD per 100 kg. He said that global rates of LPG were linked to Saudi market where the prices shot up to 45 USD per 1000 kg.
He said that

KARACHI - A constitutional petition was filed in the Sindh High Court on Friday against the government's announcement of increase in prices of petroleum products by 10 percent. The petition was filed by Iqbal Haider pleading the court that the Oil and Gas Regulatory Authority (OGRA) be restrained over hiking of petroleum prices and such acts termed illegal and unconstitutional.
The petitioner had already filed the petition on that same issue recently but the government took back

SIALKOT - Sialkot Chamber of Commerce and Industry (SCCI) President Ghulam Mustafa Chaudhry has taken strong exception to the decision to increase petroleum prices by nine to thirteen percent and stressed that the price increase must be withdrawn immediately.
In a statement, he said that the increase in petroleum prices would add to the rising trend of inflation and the cost of industrial production that is already under heavy pressure because of higher electricity and gas

LAHORE - Petrol pump owners again resorted to their fleecing techniques by stopping sales on Thursday, as fuel prices are expected to be increased by 10 to 15 percent from midnight, Pakistan Today has learnt. Motorists and motorcyclists were seen searching for petrol from one pump to another. Petrol pumps located in major areas of the city including Model Town, Garden Town, Allama Iqbal Town, Mughalpura, Dharampura, Ghari Shahu and others stopped selling fuel in the evening and hardly

KARACHI - The All-Pakistan Liquefied Petroleum Gas (LPG) Distributors Association (APLDA) requested local producers not to increase the price of LPG to avoid further reduction in LPG sale, despite an expected increase of Rs 3.75 per kilogramme (kg) because of a price hike in the international market. Talking to Pakistan Today on Thursday, APLDA Chairman Abdul Hadi Khan said the LPG sale in the country had already reduced by 60 percent and an LPG price hike might cause a further

KARACHI - The former Pakistan International Airlines (PIA) Managing Director Captain Ejaz Haroon has sold a Boeing 747 plane of the airline to a vendor in just Rs 35 per kilogramme, while it could have been used for cannibalisation after a few modifications. Sources informed Pakistan Today that a Boeing 747-200, worth not less than $20 million and weight of over 200 tonnes, was sold to a vendor in just Rs 35/kg, despite the fact that PIA has 100 percent technical expertise to overhaul

KARACHI - Attock Oil Refinery has again increased prices of lube base oil by Rs 11 per litre, triggering a sharp rise in all lubricating oils.
The All Pakistan Lubricants Manufacturers Association (APLMA) Chairman Mian Zahid Husain, while condemning this arbitrary act by the refinery, warned the government for a significant increase of Rs 15 per litre in each lubricating oil brand. Mian Zahid stated that Attock Refinery has so far increased Rs 30 per litre in the last four

ISLAMABAD - After a lapse of 45 days - the deadline set by the government for the judicial commission to complete its probe into the sugar price increase scam - no one from political and government circles knows if the judicial commission has presented its inquiry report to the government or not, or what are the investigation's findings in case the probe has been completed, and who was behind the scandal.
A single-member judicial commission on sugar price hike scam comprising

KARACHI - The affect of calculating sales tax on actual market price of sugar through the recently promulgated presidential ordinance will fall heavily on consumers, as sugar price across the country would increase by around Rs 6.33 per kilogramme.
The fresh ordinance is sure to multiply the woes of the inflation-hit masses.
Talking to Pakistan Today, Pakistan Sugar Mills Association (PSMA) Chairman Javed Kayani said the sales tax on the market price of sugar, which was

KARACHI - Historically high cotton prices are swelling the price and demand of polyester fibers, an alternative raw material. This has ensured that margins of Lotte Pakistan PTA Limited (LOTPTA) remain quite healthy. Though rising oil prices and reduced availability of Paraxylene (Px) due to problems in the Middle East, pushed spot Px prices by 18 percent since December 2010, demand from downstream polyester sector remained resilient enough to push PTA prices up by 26 percent in the

LAHORE - Despite last week's increase in petroleum prices, vegetable prices remained stable while fruit prices rose at Sunday bazaars. Vendors said they were nticipating a possible price increase next week. They also said that sales increased due to first Sunday of the week and less prices. Vegetable vendors said vegetables prices were stable due to better supplies from the farms. Green Town Sunday bazaar vegetable seller Muhammad Akram said, "Increases in petroleum prices do increase

KARACHI - The soaring prices of POL (petrol, oil and lubricants) have remarkably increased the sale of smuggled Iranian petrol, causing losses worth billions of rupees to the exchequer, while important government personalities are also investing in and harbouring this illegal business, sources have informed Pakistan Today.
The daily consumption of Iranian petrol has gone through the ceiling, whereas a major decline between 10,000 tonnes and 15,000 tonnes in daily consumption of

KARACHI - After a long time, the ANP on Thursday supported the MQM for demanding reduction in petroleum prices recently announced by the Oil and Gas Regularity Authority (OGRA). In a statement issued from the Bacha Khan Markaz, ANP Sindh President Shahi Syed stated that the demand for the reduction in prices of petroleum products is right to avoid further burdening the public. "Every time government is advised to adopt alternate sources rather than increasing the prices of petroleum

LAHORE - The Water and Sanitation Agency (WASA) is fast heading to bankruptcy as its budgetary deficit is about to surge from Rs 3 billion to 3.5 billion with the increase in petroleum prices. Out of Rs 3 billion, deficit attributable to electricity bills is Rs 2.5 billion. After the increase in petroleum prices, under the new fuel adjustment charges, electricity bills are bound to jack up, inflating WASA's bills by Rs 500 million annually. Sources in WASA told Pakistan Today that the