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PM Shehbaz Sharif rejects proposal to hike petrol price

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  • PM Shehbaz says govt will bear burden of hike in prices of petroleum products itself.
  • Decision was announced through PML-N economy on Twitter.
  • Earlier, OGRA had sent a proposal to Finance Division to increase price of petrol by Rs21.50.

Prime Minister Shehbaz Sharif has rejected the Oil and Gas Regulatory Authority’s (OGRA) proposal to hike the prices of petroleum products in the country.

The decision was announced through PML-N’s economy account on Twitter.

There will be no change in the price of petroleum products as of now, adding that the premier has maintained that the government will bear the burden of the hike in the prices of petroleum products itself instead of shifting it to the masses, sources had told Geo News.

Earlier, the OGRA had sent a proposal to the Finance Division to increase the price of petrol by Rs21.50 and diesel by Rs51.30 (based on existing/current petroleum levy and GST).

On February 28, former prime minister Imran Khan announced a reduction of Rs10 per litre in petrol and diesel prices and a price freeze till the announcement of the budget for 2022-23.

According to the proposal, the OGRA had suggested an increase of Rs83.50 per litre of petrol and Rs119.88 per litre of diesel (based on the federal government’s advised petroleum levy of Rs30 and 17% GST).

It is worth mentioning that currently, the petrol price in Pakistan is Rs149.86 while diesel is available at Rs144.15, with zero per cent levy and GST. 

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Minutes after taking off from Lahore airport, a private airline plane was “hit by a bird.”

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Details show that an aircraft from Lahore to Karachi took off from the airport in Lahore, but it made a problematic landing a few seconds later.

The aircraft carrying 180 passengers was successfully landed at the Lahore airport by the pilot. They have moved the passengers of the impacted flight to the airport lounge.

Bird strikes on aircraft have been documented occasionally at the nation’s airports, yet the problem persists in spite of the CAA’s assertions.

In the first 11 months of 2022, birds struck at least 57 Pakistan International Airlines (PIA) aircraft.

Details indicate that PIA published a report on aircraft struck by birds in 2022.

53 bird-hit instances were documented between January and October, and four incidents were logged in November, the study states. The airport in Lahore International was the site of most of the incidents.

According to the research, five of the 57 PIA aircraft were damaged in 2022 due to bird collisions, but the aircraft were spared significant damage in 59 instances.

In addition, the birds struck twelve PIA planes during approach, eight during takeoff, and 21 after landing.

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Deputy Prime Minister to Represent Pakistan at CHOGM in Samoa in 2024

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Senator Muhammad Ishaq Dar, the deputy prime minister and foreign minister, will lead Pakistan’s delegation to the Commonwealth Heads of Government meeting in Samoa.

Pakistan’s views on major global issues and concerns will be discussed at the conference by the Deputy Prime Minister, who will concentrate on climate change, economic growth, and enhancing international collaboration within the Commonwealth.

His keynote speech at the Commonwealth Business Forum on “Transforming Our Workforce” will focus on Pakistan’s focus on digital transformation, skill development, and youth empowerment.

He will converse with the heads of delegation from other Commonwealth nations as well.

Mumtaz Zahra Baloch, the spokesperson for the Foreign Office, said in a statement that Pakistan’s attendance at CHOGM 2024 is a reflection of its ongoing dedication to the Commonwealth and its ties with tiny island pacific nations.

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China Contributes 43 New Foreign Firms to the 6% Growth in SECP Registrations

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The Securities and Exchange Commission of Pakistan has registered 2,617 new firms this year, a 6% increase from 2023, with assistance from the Special Investment Facilitation Council. This increases the overall number of businesses that are registered to 231,111.

Non-profits, trade associations, and public unlisted firms make up 4% of these, while private limited corporations make up 55% and single-member companies 41%. It is noteworthy that 99.8% of the registrations were done online, demonstrating SECP’s attempts to digitise.

Real estate has 237 new businesses, services has 306, and trade has 377 new businesses. These are the main sectors exhibiting growth. While the healthcare and textile industries each had 49 new businesses, the education sector saw 101.

China contributed the most, adding 43 new companies, out of the 61 new companies that were registered as a result of foreign investment.

These recently registered businesses are anticipated to decrease imports, increase domestic production, and contribute to closing the trade deficit.

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