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4 fuel-laden ships reach Pakistan amid concerns about shortages, 3 yet to berth – SUCH TV
Three ships carrying petrol have arrived in Pakistan while one has already discharged its diesel cargo to replenish the fuel stocks in the country amid global shortages, it emerged on Tuesday.
The berthing for three ships that are yet to discharge their cargoes is scheduled for the coming days this week.
According to a statement issued by the Port Qasim Authority (PQA), a marine tanker, Torm Damini, reached Pakistan on March 8 and has offloaded 37,000 tonnes of diesel.
Meanwhile, another tanker, Nave Atropos, carrying 50,000 tonnes of petrol, has reached Port Qasim and is scheduled to berth on Wednesday, the statement said.
The process is expected to take around 30 hours.
Another tanker, Spruce 2, carrying 55,000 tonnes of petrol, is expected to berth on Thursday.
A fourth ship, Sea Clipper, carrying 34,000 tonnes of petrol, will berth on March 13 or 14, the statement said.
It added that another vessel, bringing petrol for the state-owned Pakistan State Oil, is expected to arrive after March 16.
A senior official of the petroleum ministry told Dawn that the country had petrol and diesel stocks for 25 days.
“The import of petrol and diesel will ensure that their supply is not dried up, ” the official said, adding that people had started conserving fuel after the recent hike in petroleum prices, which, too, was helping with maintaining the stock.
The decision to raise the prices came as the country felt the economic impacts of the US-Israel war on Iran, which has paralysed trade via the Strait of Hormuz — a route Pakistan relies heavily on for its oil supplies.
Meanwhile, Prime Minister Shehbaz Sharif directed the finance and petroleum ministers to work with provincial governments on a strategy to conserve and ensure an uninterrupted supply of petroleum products.
Subsequently, Petroleum Minister Ali Pervaiz Malik had informed a briefing on Sunday that three petroleum shipments were expected to reach Pakistan by Monday.
Business
Banks to report all related party forex derivative transactions: RBI – The Times of India
Mumbai: RBI has required banks to report all foreign exchange derivative deals involving the rupee undertaken in India and globally by their entire group, including overseas branches, subsidiaries, and parent entities. This brings into view offshore trades that were earlier largely invisible. This applies to both OTC deliverable and offshore non-deliverable contracts, meaning even speculative offshore bets on the rupee must now be disclosed. Banks now must report detailed transaction data-size, counterparty, maturity, and structure-no later than two working days, though trades below $1 million and certain already-reported or internal hedging transactions are exempt.
Business
Renters’ Rights Act: My tenant owes £15,000 in rent, but I can’t get them out of the property
Currently, under a so-called Section 21 notice, a landlord can evict a tenant without giving a reason – and with just eight weeks’ notice. The new legislation will restrict landlords to a handful of legal reasons for evictions, including wanting to move back in, anti-social behaviour by tenants or persistent rent arrears.
Business
Why Spotify has no button to filter out AI music
Music streamer Deezer allows users to filter out AI music, so why does Spotify not offer the same?
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