In an unusual public rebuke, the Oil and Gas Regulatory Authority (Ogra) has advised against speculation on petroleum prices, which could “disrupt” the smooth supply chain. In a public statement on Monday, the petroleum regulator emphasised “the importance of avoiding speculations regarding the prices of petroleum products”. Even though the statement excluded any explicit reference, the caut
The Pakistan Institute of Development Economics (PIDE) has identified high tariffs hindering exports. This was stated by PIDE Vice Chancellor Dr Nadeemul Haque along with academia in a meeting with Commerce Minister Gohar Ejaz on Monday. The meeting was centred on the prevailing economic situation in Pakistan. According to an official announcement, Dr Haque raised several issues during the m
As prices continue to soar, Caretaker Planning Minister Sami Saeed on Monday ordered the revival of the Decision Support System for Inflation (DSSI) to record and monitor prices of essential commodities in major cities across the country. Chairing the National Price Monitoring Committee (NPMC) meeting, Mr Saeed instructed the Pakistan Bureau of Statistics (PBS) to resume the DSSI, a system that
The State Bank of Pakistan (SBP) on Monday suspended the authorisation of two exchange companies with immediate effect. The SBP suspended the authorisation of Al-Sahara Exchange Company (Pvt) Ltd for three months on account of serious violations of the regulations and instructions. “The exchange company, its head office, branches, franchises have been debarred from undertaking any kind of bu
Despite the recent drop of the dollar to Rs290.86 in the interbank market, a Rs16.24 decrease in just 14 days, and the decline in scrap prices in the world market, steel bar manufacturers are hinting at another price increase of Rs10,000 per tonne. In the open market, the greenback is now trading at Rs293, marking a Rs40 decrease over the past two weeks. A steel bar trader recalled that manu