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  • Pakistan slashes petrol price by Rs4 amid confusion about bigger cut


Pakistan slashes petrol price by Rs4 amid confusion about bigger cut

An employee prepares to fill petrol in a vehicle at a fuel station in Karachi on September 1, 2023. (AFP/File)
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Updated 01 June 2024
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Pakistan slashes petrol price by Rs4 amid confusion about bigger cut

  • The confusion stemmed from a statement issued by PM Sharif's office saying he had directed authorities to reduce petrol price by Rs15.4
  • Finance Division says the Oil & Gas Regulatory Authority has worked out new prices, based on price variations in the international market
Updated 01 June 2024
KHURSHID AHMED   

KARACHI: The Pakistani government on Saturday reduced the price of petrol by Rs4 per liter, the Finance Division announced, amid confusion about bigger cuts in petroleum prices.

The confusion stemmed from a statement issued by Prime Minister Shehbaz Sharif's office that said late Friday the premier had directed authorities to reduce petrol price by Rs15.4 and diesel by Rs7.9.

However, the price of petrol was slashed by only Rs4.74, while that of hi-speed diesel was reduced by Rs3.86, according to a notification issued by the Finance Division early Saturday.

"The prices of Petroleum products have seen a decreasing trend in the international market during the last fortnight," the notification read. "The Oil & Gas Regulatory Authority (OGRA) has worked out the consumer prices, based on the price variations in the international market."

A liter of petrol now costs Rs268.36, while that of high-speed diesel sells for Rs270.22.

Pakistan revises petroleum prices every fortnight. On May 15, the Pakistani government slashed the price of petrol by Rs15.39 per liter in view of declining global energy prices, bringing major relief to consumers reeling from record inflation over the past two years.

The South Asian country significantly increased fuel prices after securing a short-term, $3 billion loan from the International Monetary Fund (IMF) last year.

The rising rates also led to spiraling inflation in the country, though the government started offering relief to the people by gradually bringing down the petroleum prices.

Pakistan is already in talks with the IMF to secure another loan which is expected to be bigger in terms of size and duration.

Topics: petrol Pakistan petrol prices

Government to form committee to negotiate with Imran Khan’s party ‘within days’ — adviser

Updated 8 sec ago
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Government to form committee to negotiate with Imran Khan’s party ‘within days’ — adviser

  • Rana Sanaullah says all outstanding issues causing political polarization can come under discussion
  • Khan has threatened civil disobedience if the government doesn’t implement his demands by Dec. 22
Updated 8 sec ago
Arab News Pakistan

ISLAMABAD: The government will set up a committee “in a day or two” to negotiate with the opposition Pakistan Tehreek-e-Insaf (PTI) party, said the adviser to the country’s prime minister on political affairs on Friday, adding it was possible to discuss all outstanding issues causing political polarization in the country.

The move comes as PTI founder and former Pakistan premier, Imran Khan, threatened to launch civil disobedience by asking overseas nationals, who widely support his party, to stop sending remittances if the government does not implement his demands, including the release of political prisoners, by Dec. 22.

Khan himself remains incarcerated for over a year on charges that he says are politically motivated to keep him away from power. He has also demanded judicial commissions to investigate protests on May 9 last year and Nov. 26 this year in which the government says supporters of PTI partook in violence and caused vandalism.

The ex-premier has already established a negotiating committee to talk to the government.

“The [National Assembly] Speaker [Ayaz Saddiq] has contacted Prime Minister Shehbaz Sharif in this regard,” Rana Sanaullah, Sharif’s political adviser, told Geo TV in an interview. “My own sense is that there will be a breakthrough on this [setting up on the negotiating committee] in another day or two.”

The country has remained in the grip of political unrest and uncertainty since Khan’s ouster from power in a parliamentary no-confidence vote, which also led to economic hardships for Pakistan.

The country’s national economy heavily depends on remittances by overseas Pakistanis who contributed about $30 billion in fiscal year 2023-24.

Khan has also warned the government not to project the PTI’s offer for negotiations as a sign of “surrender.”

Sanaullah said during his interview negotiations could help both sides find a way out of the current political impasse.

However, he said it was premature to say which ones of the PTI’s demands would be met.

“If they force us to accept these demands before the talks, then what is the need for these negotiations,” he asked.

Topics: Imran Khan PTI

Pakistan to launch first women’s software technology park in Azad Kashmir next year

Updated 57 min 17 sec ago
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Pakistan to launch first women’s software technology park in Azad Kashmir next year

  • The tech facility will bridge the region’s gender-based digital divide and become operational in February
  • Over 18,000 professionals are employed across 43 IT parks in Pakistan, of which 20 percent are women
Updated 57 min 17 sec ago
Arab News Pakistan

ISLAMABAD: Pakistan announced on Friday its plan to establish the country’s first women’s software technology park in Azad Kashmir, aiming to bridge the region’s gender-based digital divide and targeting a launch in February.

The decision was made during a meeting of the Pakistan Software Export Board (PSEB), chaired by Minister of State for Information Technology Shaza Fatima Khawaja, which assessed the overall performance of the country’s IT sector.

The move is part of the government’s broader plan, unveiled in May, to set up 10 new software technology parks nationwide by next year, including one in the federal capital.

These parks will feature incubation centers and other facilities to support start-ups, expand Pakistan’s digital landscape, increase IT exports and promote gender inclusivity in the tech sector.

“The initiative [to set up the software technology park in Azad Kashmir] underscores our dedication to creating equal opportunities for women and ensuring their meaningful participation in Pakistan’s digital economy,” the minister was quoted as saying in an official statement circulated after the meeting.

The statement informed that 20 percent of workforce in PSEB-supported software technology parks comprises female IT professionals.

Over 18,000 export professionals are currently employed across 43 IT parks in Pakistan.

The PSEB’s initiatives since 2020 have also resulted in more than 10,000 job placements through targeted training, certifications and internship programs.

The organization aims to empower 25,000 freelancers by 2027 by establishing 250 e-Employment Center’s and expand the footprint of the country’s IT sector abroad.

Topics: software technology park azad kashmir

Pakistani port authorities under scrutiny over likely award of dredging contract to Chinese firm

Updated 20 December 2024
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Pakistani port authorities under scrutiny over likely award of dredging contract to Chinese firm

  • Karachi Port Trust declared China Harbor Engineering Company lowest bidder, likely to award contract to it
  • A final evaluation report reveals the Chinese firm scored lower than Dutch bidder Van Oord in two categories
Updated 20 December 2024
NAIMAT KHAN

KARACHI: The Karachi Port Trust (KPT) has been under scrutiny for suspected foul play in the award of a dredging contract, which is likely to go to a Chinese firm that did not comply with the Pakistan’s procurement rules, according to documents and media reports.
The contract, which was advertised in July, will require the successful bidder to clear mud, weeds and rubbish from 4 million cubic meters of the Karachi port’s navigation channel. The port, one of the largest in South Asia, handles about 60 percent of Pakistan’s seaborne cargo, making the dredging project crucial to its operations.
Three of the four bidders offered dredging equipment with a capacity exceeding 15,000 cubic meters, according to the documents. Reports published in Pakistani media said the Chinese firm, China Harbor Engineering Company (CHEC), submitted a bid with underpowered equipment that failed to meet the required timelines and quality standards, making it non-compliant with the specifications outlined in the tender.
In November, Pakistan’s Public Procurement Regulatory Authority (PPRA) sought an explanation from the Karachi port authorities as to why they had not issued a full technical evaluation report of the bids.
“The procuring agency is hereby required to explain as to why complete technical evaluation report containing justification for acceptance or rejection of technical proposals could not be issued,” it said, highlighting the breach of a mandatory seven-day standstill period following the announcement of technical evaluation results as stipulated in Public Procurement Rules.
Van Oord, a leading Dutch dredging, land reclamation and island construction company, filed a formal complaint with the PPRA on November 15 with regard to the tender. The Dutch company alleged that the KPT announced technical evaluation results on the same day as the opening of financial proposals, which was in violation of Section 35 of the Public Procurement Rules that mandates the announcement of a complete technical evaluation report prior to the financial evaluation.
Van Oord said this procedural oversight deprived the bidders of the opportunity to appeal the results before the Grievance Redressal Committee, a process also mandated by Section 48 (3) the Public Procurement Rules. The complaint highlighted that any breach of procurement rules could be considered “mis-procurement” under Section 50 of the Public Procurement Rules and called for a “thorough investigation.”
On Friday, Arab News approached KPT spokesperson Naheed Tariq, but she declined to comment on the matter.
The “final evaluation report” posted on the KPT’s official website indicated that CHEC-Al Fajr International (AFI) Joint Venture (JV) was declared the lowest bidder. CHEC-AFI offered a bid of Rs6.49 billion, while Van Oord’s bid was Rs7.51 billion, according to the document.
The report revealed that two bidders received almost equal score in six of eight technical categories. However, the Chinese consortium scored significantly lower in the category of “Method of Performing Work,” receiving 14 out of 20 points, while it scored 47 out of 50 for “Availability of Major/Critical Equipment,” compared to Van Oord’s 100 percent scores in both categories.

Topics: Karachi port karachi port trust

Pakistani oncologists debunk ‘misleading’ claims about chemotherapy aired on state TV

Updated 21 December 2024
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Pakistani oncologists debunk ‘misleading’ claims about chemotherapy aired on state TV

  • Panelists on a PTV show last week said doctors in Pakistan recommended excessive chemotherapy sessions to treat cancer patients
  • Society of Medical Oncology Pakistan criticizes the panelists for sharing ‘misleading’ information, says they follow global standards
Updated 21 December 2024
NAIMAT KHAN

ISLAMABAD: An association of Pakistani oncologists on Friday described as “misleading” the claims of some analysts about chemotherapy and its use in treatment of cancer patients, which were aired by Pakistan’s state television last week.
Rizwan Razi, a political commentator, on Dec. 13 declared chemotherapy in Pakistan a “fraud” and said on a Pakistan Television (PTV) show it was used to swindle patients of billions of rupees. Without naming the doctor, Razi said he was informed by an Australian oncologist that they feared going beyond three chemotherapy sessions of a patient and in Pakistan, the treatment usually involved eight sessions, calling oncologists suggesting excessive sessions a “fraud.”
He said Punjab Chief Minister Maryam Nawaz was going to bring a “Chinese technology” to Pakistan to successfully treat cancer patients in the country. Ameen Hafeez, another panelist, hailed Nawaz for offering free treatment to all cancer patients at Nawaz Sharif Cancer Care Hospital. Shumaila Chaudhry, the host of show ‘Siyasat Tonight,’ said those who were scared of the disease should stop being afraid of it, as its “solution” was soon going to be introduced in the country.
In a statement issued on Friday, the Society of Medical Oncology Pakistan (SMOP) criticized the panelists for sharing “misleading” information about cancer treatment and said “such statements could endanger people’s lives.”
“Authentic institutes such as National Comprehensive Cancer Network (NCCN), European Society for Medical Oncology (ESO), and American Society of Clinical Oncology (ASMO) stress the important role of chemotherapy in cancer treatment,” the SMOP said. “In Pakistan, cancer is treated according to international standards.”
Nawaz announced in October the establishment of 920-bed Nawaz Sharif Cancer Care Hospital in Lahore, saying the “expertise to treat cancer are quite rare in Pakistan, for which people spend all their savings.”
This week, Punjab Information Minister Azma Bukhari said that Nawaz, during her recent visit to China, had signed an agreement with a Chinese firm for the transfer of ‘HYGEA’ innovative therapy, which uses extreme cold to destroy cancer cells and is said to be minimally invasive.
The SMOP said airing misleading information regarding such topics was not only dangerous for patients, but it impacted public confidence in medical procedures and treatment.
It requested the PTV to issue a “clear statement” distancing itself from the views of aforementioned program host and panelists.
“It must be ensured in the future that discussions on sensitive topics like medical treatment should be based on expert opinions of information from authentic, professional individuals,” the SMOP added.

Topics: Cancer treatment ptv news

Pakistan prepares to terminate take-or-pay contracts with independent power producers

Updated 20 December 2024
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Pakistan prepares to terminate take-or-pay contracts with independent power producers

  • Pakistan approved a decade ago dozens of mostly foreign-financed private projects by IPPs to tackle chronic power shortages
  • PM Sharif’s cabinet this month approved settlement agreements with eight IPPs with the aim to reduce power tariff, expenses
Updated 20 December 2024
KASHIF IMRAN

ISLAMABAD: Pakistan is making preparations to stop capacity payments to independent power producers (IPPs) by dissolving the mechanism of take-or-pay, Pakistani state media reported on Friday.
Take-or-pay is referred to as capacity payments in Pakistan where the government has to pay private companies irrespective of how much of the power they generate is transferred to its grid.
Pakistan approved dozens of private projects by IPPs, financed mostly by foreign lenders, a decade ago to tackle chronic power shortages. But the deals, featuring incentives such as high guaranteed returns and commitments to pay even for unused power, ultimately resulted in excess capacity after a sustained economic crisis slashed consumption.
This month, Prime Minister Shehbaz Sharif’s cabinet approved settlement agreements with eight bagasse-based IPPs with the aim to reduce electricity prices and save the national exchequer billions of rupees, the Radio Pakistan broadcaster reported.
“The agreement between IPPs and the government’s Energy Task Force is a significant milestone, which can result in saving of 300 billion rupees ($1.07 billion) of the national exchequer,” the broadcaster said.
Short of funds, successive Pakistani governments have built those fixed costs and capacity payments into consumer bills, sparking protests by domestic users and industry bodies.
In October, PM Sharif said his government was terminating purchase agreements with five IPPs to rein in electricity tariffs as households and businesses buckled under soaring energy costs, according to state media. Pakistan’s Central Power Purchasing Agency was due to approach the National Electric Power Regulatory Authority (NEPRA) for a reduction in the electricity tariff generated from these power plants.
There is a possibility of Rs3.50-6.50 decrease in the electricity tariff as a result of government reforms as the government has pledged to pay outstanding dues within 90 days as prescribed in the agreements, Radio Pakistan reported on Friday.
“The government has also expressed resolve to promote private partnership for development of energy sector,” the report read.
The need to revisit power deals was a key issue in talks for a critical staff-level pact in July with the International Monetary Fund (IMF) for a $7-billion bailout. The program was approved in September.
Pakistan has also been holding talks on reprofiling power sector debt owed to China and structural reforms, but progress has been slow. It has also vowed to stop power sector subsidies.

Topics: Independent Power Producers (IPPs) IPPs Arab News Pakistan

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