Tag: Prices

LAHORE - The Pakistan Muslim League-Quaid (PML-Q), the main opposition party in the Punjab Assembly (PA), criticised the Punjab government for increasing inflation in the province saying that it has become a fashion to blame former regimes for justifying poor governance and mismanagement. Opposition members of the provincial assembly (MPA) asked the treasury benches what they had done for the masses since the last years except for blaming the previous government for all "ills" adding

LAHORE - High exports have triggered a 25-30 percent increase in rice prices, market sources told Pakistan Today. Rice prices had stayed stable in the market in December as new rice (Kernal super) was available for Rs 2,800-3,000 per 50 kg or Rs 56-60 per kg. However, currently, prices have ballooned and are touching Rs 3,400-3,700 per 50 kg. Similarly, the prices of Basmati-386 have jumped to Rs 2,650 per 50 kg, whereas earlier, it was being sold for Rs 2,200 per 50 kg.
Prices

LAHORE - Kisan Board Pakistan (KBP) has termed the reversal of increase in the petroleum products as insufficient and urged the government to make at least 50 percent decrease in diesel prices. The board also demanded that prices of all inputs including fertilisers, electricity and pesticides should also be reduced by half to support the dying agricultural economy. KBP President Sardar Zafar Hussein and General Secretary Malik Muhammad Ramzan Rohari while reacting to the withdrawal of

KABUL - Fuel prices rose by about 27.4 percent, with petrol about 12.3 percent, during the outgoing week as a result of shortages after Iran blocked shipments of oil into Afghanistan, Kabul-based dealers said. One litre diesel was sold for 65 afghanis and the same amount of petrol for 56 afghanis against their last week's rates of 51 afghanis and 48 afghanis respectively, a fuel seller in Taimani area of the city, Ahmad Khali said.
He said the prices could further increase if

LAHORE - As soon as the Prime Minister Yousaf Raza Gilani announced the decrease in petroleum prices, people stopped purchasing petrol on Thursday night. New petroleum prices were implemented from last midnight, thus people waited for the date to change before they buy petrol. Petrol pump owners said their sales dropped sharply as soon the announcement was made.
Pakistan Petroleum Dealers Association (PPDA) Chairman Abdul Sami Khan, while talking to Pakistan Today, said every

KARACHI - Analysts have viewed that the current year cement price surge, along with the fragile economic outlook, has dented the overall cement demand. Cement manufacturers, however, have still slashed prices in the northern part of the country, which may support cement offtake during the winter season at the cost of lower margins.
In addition, during the second half, export dispatches and local dispatches are likely to improve, hence better returns for cement manufacturers in

KARACHI - Over the last decade the world economy has experienced an unprecedented boom-bust cycle with extreme fluctuations in commodity prices. The dynamics of commodity price cycles are of lasting interest to policymakers and market participants, given their significant impact on economic and financial developments.
Commodity prices have long exhibited boom-and-bust patterns with high and varying volatility in nominal and real terms. Over the past ten years, commodity prices

LAHORE - Lahore High Court (LHC) Justice Sheikh Azmat Saeed on Tuesday issued notices to the Oil and and Gas Regularity Authority (OGRA) chairman and the federal government on a petition challenging nine percent increase in petroleum products prices from January 1, 2011.
The court also summoned a report from OGRA chairman and the federal government within one week seeking an explanation for increasing fuel prices, which would increase prices of other products as well. The judge

ISLAMABAD - Opposition parties on Monday put the treasury in the dock over the unprecedented increase in the prices of petroleum products . No one from the minority government, including the petroleum minister, could justify the decision as the protesting members chanted slogans against the government.
Prime Minister Yousaf Raza Gilani was not present in the House as he was in Lahore for his meetings with the PML-N and the PML-Q leadership, seeking their support for his falling

ISLAMABAD - In a last ditch effort to appease the protesting opposition and handle the politically-charged environment, the government is considering withdrawal of the increase in petroleum prices.
An informed source confided to Pakistan Today that the finance minister would brief Prime Minister Yousaf Raza Gilani today (Tuesday) about the possibility of withdrawing the increase in petroleum prices. The source added that the decision would cost a loss of Rs 4 to 5 billion if the

Lahore - The civil miscellaneous (CM) application challenging recent increase of nine percent in the petroleum products was filed again in the Lahore High Court after removing objections raised on it by LHC office on Monday. Petitioner Hameed Goraya through his counsel Muteen-ul-Haq Chaudhry had filed the CM petition on Saturday. However, the LHC office had returned the application to the petitioner due to technical objections.
Therefore, the petitioner removed the objections

ISLAMABAD - Opposition parties and two allies of the PPP are flexing their muscles to take the government head-on for an unprecedented hike in the POL prices, vowing on Saturday to vociferously protest against the increase in and outside parliament.
Talking to Pakistan Today, representatives of the PML-N, PML-Q, MQM, ANP, JI, JUI-F and PPP-Sherpao said it was unfortunate that the already hard-pressed people of Pakistan had been forced to pay for the government's corruption and

ISLAMABAD - The Oil and Gas Regulatory Authority (OGRA) has proposed a hike in petroleum prices from Rs 2 to Rs 6 per litre for January, an official source said on Thursday.
The final decision to implement the new prices would be decided by the government today (Friday), the source said, adding that the government had maintained the petroleum prices in December and picked up the Rs 2 billion differential in prices in January.
He said the crude oil prices had risen by 20

LAHORE - Customers criticised the government for allowing onions to be exported to India and creating a shortage in the local market, while the prices of vegetables and fruits increased at Sunday Bazaars.
The prices of onions have seen a sharp increase over the last two months. The vendors also complained about low consumer turn out and said high prices had decreased their profits.
Customers said the government should at least decrease the export of onion so that its price

LAHORE - The government has failed to rein in sugarcane prices as middlemen have maintained high price levels through manipulation, industry sources told Pakistan Today on Thursday.
There has also been a lack of progress with regards to the decision of federal cabinet which had linked the sugarcane support price to the sucrose recovery level. Farmers have complained that they are forced to sell their crop at relatively lower rates with sugar millers emerging as major

LAHORE: Onion prices in the provincial metropolis have peaked at between Rs 80 to Rs 90 per kilogram in retail markets. Vegetable dealers claim that onion export to India through Wagha border has reduced local stocks and pushed up the price of the essential commodity in vegetable markets.
Vegetable vendors at Badami Bagh wholesale market said that the Punjab was already facing a vegetable shortage of around 30-40 percent owing to heavy flooding this year and vegetable exports to

LAHORE: Vegetable prices decreased at the Sunday bazaars while chicken prices increased on this Sunday. The buyers complained about the quality of vegetables and fruits and the security too remained poor while the district management remained indifferent to the situation. Though the prices decreased, a number of vendors kept selling at higher rates. The administration of Sunday bazaars remained absent and did not bother about public complaints.
The consumers at Sunday bazaars in