Tag: Prices

MILAN - The UN's food price index hit a record in January and recent catastrophic weather around the globe could put more pressure on the cost of food, an issue that has already helped spark protests across the Middle East.
Up for the seventh month in a row, the closely watched Food and Agriculture Oganisation Food Price Index on Thursday touched its highest since records began in 1990, and topped the peak of 224.1 in June 2008, during the food crisis of 2007/08.
"The new

LAHORE - Marketing companies on Thursday reduced LPG price by Rs 5 to 10 per kilogramme following reduction in Saudi Aramco's contract price by $111 per tonne.
According to a press release issued by the All Pakistan LPG Distributors Association, marketing companies had reduced the price by Rs 11,300 per tonne, while price of an 11.8 kilogramme domestic cylinder has been decreased by Rs 60 to 110 and 45.4 kilogramme commercial cylinder by Rs 220 to 433 per kilogramme.
All

ISLAMABAD - The government has reportedly raised electricity prices by Rs 2 per unit secretly and the Upper House of Parliament should take notice of the issue, Professor Khurshid Ahmed said on Tuesday.
"It has been reported that the government has raised the power prices by Rs 2 secretly which is certainly unfair and the house should take notice of the issue," Professor Khurshid said while speaking on an adjournment motion. Later, the Leader of the House Nayyar Bukhari did not

ISLAMABAD - Following the big reduction in Liquefied Petroleum Gas prices in international market, distribution companies announced to scale down the prices by Rs 12 per kilogram on Monday and the new prices would take effect from today.
LPG Prices were dropped by $111 or Rs 11268 per metric ton in international market, as a result the price of LPG domestic cylinder went down by Rs 133 and commercial cylinder by Rs 532. LPG Zonal Standing Committee Chairman Muhammad Irfan

ISLAMABAD - After refusal by the political parties to support any move to increase the petroleum prices, the government on Monday decided to maintain them at the level of December 2010. Addressing a press conference here late Monday night, Oil and Gas Regulatory Authority (OGRA) Executive Director Syed Javed Nasim said no change had been made in the petroleum prices despite the fact that they had surged in the international market.
A source told Pakistan Today that the government

SAHIWAL - The district administration has re-fixed the prices of essential commodities to provide relief to the common man and control the artificial escalation of prices. According to the new prices, atta will be sold at Rs 30 per kg while a bag of 20kg will sell at Rs 560.
This decision was taken at the district price control committee meeting held under the chairmanship of DCO Muhammad Khan Khichi. The other items whose prices were re-fixed are ghee 166/g, rice basmati super

LAHORE - The federal government should not increase fuel prices otherwise a "tsunami of inflation" will hit the country, Pakistan Muslim League-Nawaz (PML-N) Member of the National Assembly (MNA) Pervaiz Malik said on Sunday.
In a press statement, he said that the federal government would not be allowed to increase fuel prices on the International Monetary Fund's (IMF) pressure and if people come on the roads following protests in Tunisia, Egypt and Yemen, rulers would have to

LAHORE - Vegetable and fruit prices decreased for the second consecutive week at the city's Sunday bazaars. Almost all vegetable prices including garlic, ginger, tomatoes, peas, apples, bananas and guavas came down while onion prices also fell owing to a ban on exporting the commodity to India.
Both customers and vendors expressed joy on the reduction in prices. Vendors said that sales had increased by 15 to 20 percent because of low prices."When vegetable prices were high,

ISLAMABAD - Another showdown between the government and opposition parties is expected as the cash-strapped administration is likely to launch another push for an increase in the prices of petroleum products on January 31.
The government will again be walking a tightrope when the proposal is presented during the meeting of the parliamentary committee that will review the petroleum products pricing mechanism and also during the PPP-PML-N talks on proposed economic reforms. An

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

KARACHI - Attock Refinery has jacked up prices of lube base oil by Rs 6.50 per litre. Refineries have inflated prices of lube base oil by 15 percent in the past four months, All Pakistan Lubricants Manufacturers Association (APLMA) Chairman Mian Zahid Husain said in an issued statement.
He stressed the new increase would result in price rises in the case of all lubricants, ranging from Rs 8.0 to Rs 10 per litre. It was noted that since December, this was the third time that base

ISLAMABAD - The parliamentary committee formed to settle the petroleum products pricing formula has expressed dissatisfaction over the Ministry of Petroleum's presentation, opposed any hikes and has sought replies on various queries by Thursday.
A source said the committee members criticized the government mechanism of passing on the increase in international oil prices to the consumers, without bothering to consider providing relief through the petroleum levy (PL) and general

KARACHI - The prices of commodities soared in 2010, partly in response to strong global demand but also to supply shocks in the case of certain commodities. Upward pressure on prices is expected to persist in 2011, due to sustained robust demand and the sluggish response of suppliers to tightening market conditions.
As a result, the IMF's baseline petroleum price projection for 2011 is now $90 per barrel, up from $79 per barrel in October 2010. As for non-oil commodities,

LAHORE - Sunday was a good for the citizens, because fruit and vegetable prices declined, and for the Sunday bazaars' administrations, because public complaints reduced. The prices of onion, ginger, garlic, tomatoes and chicken decreased by around Rs 5 to 15 per Kg.
"Onion and garlic prices had gone out of control, making difficult for us to manage the budget. The price reduction shows that the government could control prices if and when it wanted to," said a housewife, Rabia

MUMBAI - Indian cotton prices are likely to extend last week's gains to hit a record high, lifted by strong demand from exporters to fulfil their exports obligations and as overseas markets jump, dealers said. "Exporters were very active in the spot market. Arrivals were there, but quality fibre was in short-supply," said a senior official at Gujarat State Cooperative Cotton Federation. India's cotton export deadline will expire on Feb. 25 for the remaining unshipped quantity of the

Lahore - Fruit and chicken prices rose, while vegetable prices decreased this Sunday in Sunday bazaars, as compared to last week's prices.
Price of oranges increased considerably during last week and the public criticized the increasing fruit prices. Vendors said the sale of oranges decreased because of the increasing prices. They also said that despite a good consumer count in the Sunday bazaars, sales were low as most of the people were window shoppers and many ran away after

LONDON - Oil is fast approaching $100 for the first time in two years, at the end of a momentous week which saw the market driven by the Brent contract's looming expiry, supply-side worries and the US's dwindling reserves.
Other major global commodity markets were also pushed higher by supply concerns. Coffee, maize, platinum, palladium and soya all forged multi-year peaks, while rubber stretched to a new record high.
London Brent oil surged to $99.20 a barrel late on