25 Posts

prices

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Govt further slashes LPG prices

  • 2 min
The Oil and Gas Regulatory Authority (OGRA) has reduced Liquefied Petroleum Gas (LPG) prices by Rs3.87 to Rs234 per kilogram, effective immediately. This is a result of reduced production costs and the arrival of imported LPG shipments. Additionally, petrol and diesel prices are expected to decrease by Rs 5 and Rs 4 per liter, respectively, starting from June 1st.
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Oil prices little changed as markets look to OPEC+ meeting

  • 3 min
Oil prices remained stable in early Asian trading as markets anticipated an upcoming OPEC+ meeting where maintaining voluntary output cuts for the rest of the year will be discussed. Brent crude and West Texas Intermediate (WTI) crude prices saw slight increases, while trading was expected to be light due to public holidays. OPEC+ is likely to extend output cuts, affecting global oil demand and inflation.
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IMF asks Pakistan to ‘increase’ gas prices

  • 3 min
The IMF has requested Pakistan to increase gas prices as part of negotiations for the new loan program. The proposal includes a proposed gas price hike for domestic, fertilizer, CNG, and cement sectors, with potential increases for protected and non-protected consumers. The IMF has also suggested reforms to address circular debt and the tax system.
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Medicine prices to skyrocket in Pakistan for This reason

  • 3 min
Medicine prices in Pakistan are set to increase significantly due to a proposed 18% sales tax recommended by the IMF. Experts caution that this tax will make medicines unaffordable for many, giving pharmaceutical companies free rein to set prices. This recommendation comes amid the IMF's policy-level talks with Pakistan on a bailout package.
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Gold prices fall in Pakistan following global market downturn

  • 2 min
Gold prices in Pakistan saw a decline following global market trends. According to All Sindh Sarafa Jewellers Association, the per tola gold price dropped to Rs248,500, a decline of Rs1,900. Similarly, the 10-gram gold price fell to Rs213,048 after a decrease of Rs1,630. International gold prices also dropped to $2,418 from $2,439.
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Flour prices reduced by Rs600

  • 2 min
Flour prices in Islamabad have decreased, providing relief to consumers as the inflation rate dropped in Pakistan. The price of a 10-kilogram flour bag has been reduced by Rs 270, while a 15-kilogram bag's price was lowered by Rs 600. Additionally, the prices of first and second-grade flour have also decreased.
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Saudi Arabia may hike May crude oil prices to Asia

  • 3 min
Saudi Arabia is considering raising the official selling price (OSP) for Arab Light and Arab Extra Light crude in May following the strengthening of Middle East benchmarks. This is driven by a narrowing backwardation structure, rising demand in Asia, and tight supply due to oilfield maintenance and OPEC+ production cuts. The May OSPs are expected to have increases ranging from 20 to 50 cents a barrel.
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Gold prices decline in Pakistan

  • 2 min
Gold prices in Pakistan fell by Rs1100 per tola according to the All Pakistan Jewellers Manufacturers Association. The domestic price for 10 grams increased by Rs944 to Rs184,156. In the international market, the price of gold rose by $8 to $2,048 per ounce. Spot gold held at $2,030.12 per ounce.
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Gold prices see massive increase in Pakistan

  • 1 min
Gold prices in Pakistan surge as the per tola rate of 24 karat gold increased by Rs1100, reaching Rs214,300 in the domestic market. The price of both per tola and 10-gram silver also rose, alongside a global uptick in gold prices by $8 to $2042. However, spot platinum fell while palladium rose.
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IKEA cuts prices to boost sales

  • 3 min
IKEA is slashing prices on various products in countries like Belgium, Canada, and India to reverse 2022 increases. Cost decreases and lower raw material prices are driving this initiative to boost sales. The aim is to restore prices to pre-pandemic levels. Despite global shipping disruptions, this strategy remains unaffected. Ingka Group is the primary global franchisee of IKEA.