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Beginning on September 16, the price of petrol is expected to experience a significant drop.

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The price of kerosene oil is expected to decrease by Rs8 per liter, while the price of petrol and high-speed diesel are expected to receive a reduction of Rs12 per liter each, according to sources.

After analyzing the fluctuations that occurred on the worldwide market from September 12 to 14, the ultimate decision regarding the reduction in the price of gasoline would be made.

Beginning on September 16, the existing rates will be replaced with the new ones.

At one point in time, the government experienced a modest decrease in the prices of petroleum. With a drop of Rs 1.86 per litre, the price of petrol has been brought down to Rs 259.10, while the price of high-speed diesel has been reduced by Rs 3.32 per litre, and it is currently priced at Rs 262.75.

A three-year low is reached for oil prices.
Oil benchmark on a global scale OPEC+ revised down its demand prediction for this year and 2025, offsetting supply concerns from Tropical Storm Francine, which resulted in Brent crude futures arriving at their lowest level since December 2021. This occurred on Tuesday.

Brent crude futures reached a price of $69.19 a barrel, representing a decrease of $2.65, or 3.69%. The final price of a barrel of West Texas Intermediate (WTI) crude in the United States was $65.75, representing a decrease of $2.96, or 4.31%.

In addition, the Organization of the Petroleum Exporting Countries (OPEC) reduced its forecast for the growth of world demand in 2025 from 1.78 million barrels per day to 1.74 million barrels that year. As a result of the deteriorating prospects for global demand and the anticipation of an oil glut, prices moved downward.

According to increased inventories of diesel and gasoline, margins for Asian refiners dropped to their lowest seasonal level since the year 2020 last week.

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Revolution in Pakistan’s Livestock Industry: Fongrow Farms’ IVF Training Is Led by Brazilian Experts

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With the help of SIFC, Fongrow is implementing a new project at its Livestock Farms in Khanewal that is significantly boosting Pakistan’s economy and food security.

The business has started an advanced training course on reproductive technology, with an emphasis on IVF, embryo transfer, and ovum pickup. Brazilian professionals are among the international experts leading this three-week training.

Through the introduction of innovative procedures that will improve livestock reproduction, raise the production of milk and meat, and ultimately improve the nation’s food security, the program is anticipated to transform the livestock sector.

More calves can be raised with the use of IVF and ovum pickup techniques, increasing livestock yield overall.

To give Pakistani veterinary experts and embryologists the most up-to-date information on animal breeding, the training program offers them contemporary learning possibilities.

With SIFC’s help, Fongrow is spearheading agricultural innovation, advancing Pakistan’s food security and sustainable farming practices.

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The price of petrol in Pakistan may experience an increase starting February 1, 2025.

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The government led by Prime Minister Shehbaz Sharif is anticipated to increase fuel and diesel prices starting February 1, 2025, further impacting inflation-affected citizens.

The increase in crude oil prices has raised apprehensions over more escalations in the prices of petroleum products domestically.

Sources indicate that petrol prices may increase by Rs3 per litre, while high-speed diesel (HSD) is anticipated to rise by Rs6 per litre in the forthcoming fortnightly review.

The Oil and Gas Regulatory Authority (Ogra) will submit a summary to the relevant ministry, recommending adjustments based on international oil price trends and exchange rate fluctuations.

A conclusive decision will be rendered following discussions between Finance Minister Muhammad Aurangzeb and Prime Minister Shehbaz Sharif, with an official statement anticipated on January 31.

In the previous review, the government had increased petrol prices by Rs3.47 per litre, bringing the new rate to Rs256.13 per litre. The price of HSD increased by Rs2.61 per litre, establishing the new rate at Rs260.95 per litre.

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Pakistan’s gold price has skyrocketed.

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On Wednesday, Pakistan’s gold price skyrocketed, mirroring worldwide market movements.

The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) released data showing that the price of 24-karat gold per tola increased by Rs2,300 in the local market, reaching its highest level ever at Rs288,700.

The price of 10 grams of 24-karat gold also went up by Rs1,972, to Rs247,513.

On Wednesday, the price of gold increased by $22 on the global market as well, reaching $2,763 per ounce with a $20 premium.

Silver prices in the local market increased by Rs28 to Rs3,391 per tola.

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