KARACHI: In the wake of the upgradation policy, refineries have initiated to comply with Euro-V specifications, maximise the output of petrol and diesel and minimise the production of furnace oil (FO). “The upgradation policy is anticipated to enable refineries to increase total production of petrol (99 per cent) and diesel (47pc). The production of furnace oil is expected to reduce by 78pc,” s
KARACHI: Shell Pakistan Ltd (SPL) posted a profit-after-tax of Rs5.8 billion during 2023 compared to a loss of Rs72 million in 2022 as sales rose to Rs438bn from Rs418bn. In October 2023, Shell Petroleum Company Ltd, a subsidiary of Shell plc (Shell), signed an agreement to sell its 77.42pc majority interest in SPL to Wafi Energy LLC. The completion of the transaction is subject to requisite re
KARACHI: State Bank of Pakistan Governor Jameel Ahmed has said that the unprecedented volume of data generated by digital devices underscores the potential of effective data utilisation in contributing to sustained economic growth. He stated this while delivering an inaugural speech at the SaarcFinance Seminar on the ‘Potential Role of Big Data in Economic Policy’ on Wednesday. The event, he
ISLAMABAD: Former prime minister Shahid Khaqan Abbasi on Wednesday urged the Shehbaz Sharif government to implement the agenda of privatisation, particularly in the energy sector, as the greater involvement of the private sector is the key to addressing economic crisis. He was addressing as the chief guest at the inaugural session of the 16th CSR Summit and Awards-2024 organised by the National
ISLAMABAD: Pakistan’s external public debt rose by $1.2 billion in six months to $86.358bn as of September 30, 2023, according to the Ministry of Economic Affairs (MEA). In its first quarterly report on Foreign Economic Assistance (FEA) of the current fiscal year released on Wednesday, the ministry said Pakistan had received total foreign inflows of $3.5bn in July-September 2023 against loan re