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Punjab starts an initiative to inspect the quality of fuel at petrol pumps.

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An important step to guarantee the quality of fuel sold throughout the state is the Punjab provincial government’s introduction of a massive operation aimed at gas stations.

This program seeks to verify that the fuel satisfies the necessary criteria by doing routine monthly inspections at all fueling stations.

In keeping with the government’s commitment to protecting consumers and the environment, the operation has been launched under the Punjab Environmental Protection Act. As per the directive, the Environmental Protection Agency (EPA) personnel and oil marketing organizations will work together to examine fuel at different gas stations throughout the region.

Using its cutting-edge fuel quality laboratories, the EPA will make sure that the fuel being sold complies with the requirements specified by the Oil and Gas Regulatory Authority (OGRA). Fuel samples taken from gas stations will be chemically analyzed in these labs to look for anomalies or inferior goods.

The operation is essential to preserving the integrity of petroleum sold in Punjab, the authorities have stressed, guaranteeing that consumers would obtain high-quality products that adhere to regulations.

Aside from helping to prevent negative consequences on cars and the environment, the inspections will also aid in reducing the sale of contaminated or subpar fuel.

A decrease in the cost of petroleum products was announced by the federal government on September 1st, with immediate effect. Amidst the escalating expense of living, the new price system offers some respite with small reductions across multiple fuel types.

Petroleum now costs Rs259.10 a litre, a reduction of Rs1.86 per litre. The price of high-speed diesel has also been reduced, currently selling for Rs 262.75 a litre, a savings of Rs 3.42.

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Irfan Siddiqui meets with the PM and informs him about the Senate performance of the parliamentary party.

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The head of the Senate’s Foreign Affairs Standing Committee and the PML-N’s parliamentary leader paid Prime Minister Muhammad Shehbaz Sharif a visit in Islamabad.

Senator Irfan Siddiqui gave the Prime Minister an update on the Parliamentary Party’s Senate performance.

Additionally, Senator Irfan Siddiqui gave the Prime Minister an update on the Senate Standing Committee on Foreign Affairs’ performance.

He complimented the Prime Minister on his outstanding efforts to bring Pakistan’s economy back on track and meet its economic objectives.

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SIFC Increases Direct Foreign Investment: Investment in the Energy Sector Rises by 120%

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The Special Investment Facilitation Council is intended to help Pakistan’s energy sector attract $585.6 million in direct foreign investment in 2024–2025. The amount invested at the same time previous year was $266.3 million.

This is a notable 120% rise, mostly due to investments in gas exploration, oil, and power. Such expansion indicates heightened investor confidence and emphasizes the development potential in important areas.

The State Bank reports that foreign investment in other vital industries has increased by 48% to $771 million.

This advancement is a blatant testament to SIFC’s efficient investment procedure and quick project execution.

The purpose of the Special Investment Facilitation Council is to establish Pakistan as an investment hub by aggressively promoting regional trade and investment in the energy sector and other critical industries.

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Business

Discos report losses of Rs239 billion.

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When compared to the same period last year, the data indicates that discos have decreased their losses in the first quarter of the current fiscal year.

The distribution businesses recorded losses of Rs239 billion in the first three months of the current fiscal year, a substantial decrease from the Rs308 billion losses sustained during the same period the previous year.

Additionally, the distribution businesses’ rate of recovery has improved. It has increased to 91% in the first quarter of this year from 84% in the same period last year, indicating success in revenue collection.

Regarding circular debt, the Power division observed a notable change. Last year, between July and October, the circular debt grew by Rs301 billion. Nonetheless, this year’s first four months saw a relatively modest increase in circular debt, totaling about Rs11 billion.

These enhancements show promising developments in the electricity sector’s financial health in Pakistan, where initiatives are being made to accelerate recovery rates and slow the expansion of circular debt.

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