Connect with us

Entertainment

ECC approves hike in profit margins of petroleum dealers, OMCs

Published

on

ECC approves hike in profit margins of petroleum dealers, OMCs


Employees at a fuel station attend to their customers in Islamabad, Pakistan, on February 16, 2022. — AFP/File
  • Petrol diesel rates likely to rise up to Rs2.56 per litre: sources.
  • Committee approves amendments to vehicle import procedure.
  • ECC okays summary seeking curbs on chloroform imports.

The Economic Coordination Committee (ECC) of the Cabinet on Tuesday approved a proposal to revise the profit margins of oil marketing companies (OMCs) and petroleum dealers on petrol and high-speed diesel.

The ECC meeting was chaired by Finance Minister Senator Muhammad Aurangzeb.

The adjustments were made in line with the National Consumer Price Index (CPI) for 2023–24 and 2024–25, with increases capped between 5% and 10%.

It also decided that half of the increase in the margins will be paid immediately, while the remaining half will be conditional on digitisation progress, with the Petroleum Division to report back by June 1, 2026.

Finance Minister Senator Muhammad Aurangzeb chairs Economic Coordination Committee (ECC) of the federal meetings meeting at Finance Division on December 9, 2025. — Facebook/@FinanceMinistryPK
Finance Minister Senator Muhammad Aurangzeb chairs Economic Coordination Committee (ECC) of the federal meeting’s meeting at Finance Division on December 9, 2025. — Facebook/@FinanceMinistryPK

Sources told Geo News that the decision would push the prices of petrol and diesel by up to Rs2.56 per litre. An increase of Rs1.28 per litre in petrol and diesel prices will be passed on immediately, they added.

It emerged that the hike of Rs1.22 per litre in OMCs’ margin on petrol has been approved, while dealers’ commission on petrol has been raised by Rs1.34 per litre.

For diesel, the OMCs’ margin has also been increased by Rs1.22 per litre, and dealers’ commission by Rs1.34 per litre, the sources added.

New scheme for vehicle imports

The committee approved amendments to the vehicle import procedure, retaining only the transfer of residence and gift schemes.

Under the revised framework, commercial-import safety and environmental standards will apply to these schemes, the intervening import period will be extended from two to three years, and imported vehicles will remain non-transferable for one year.

Restrictions on chloroform imports

The ECC of the federal cabinet also approved a summary seeking restrictions on chloroform imports due to its toxic and carcinogenic nature, and decided that Trichloromethane (chloroform) would only be imported by pharmaceutical companies and only with a DRAP-issued NOC.

It also considered a summary regarding the claim of M/s Ghani Glass for a concessionary gas/RLNG tariff and decided the request was untenable as such subsidies were no longer permissible and that wider export-support initiatives were already in progress.

It also reviewed the Circular Debt Management Plan for FY 2025–26, presented by the Power Division, for ensuring financial sustainability and efficiency in the power sector.

The ECC called on the Power Division, in coordination with the Finance Division, to develop a medium-term plan for gradually reducing fiscal support.

It also asked the Power Division to institute a follow-up mechanism with the distribution companies (Discos) to ensure delivery of the targets committed to the Government.

On another summary, the committee approved a technical supplementary grant of Rs1.28 billion for the Pakistan Digital Authority (PDA) to facilitate digital transformation and technological innovation across government departments.

The committee further approved the release of funds as technical supplementary grant relating to the development expenditure of the Cabinet Division for FY26, as proposed by the Interior and Narcotics Control Division.

The ECC also approved the allocation of Rs5 billion to the Housing and Works Division through a technical supplementary grant for the current fiscal year.

On a summary by the Ministry of National Food Security and Research, the ECC approved creating a special-purpose company to wind up Passco and settle its remaining liabilities.

It authorised the company’s incorporation, administrative and financial arrangements, and necessary regulatory exemptions, along with appointing initial subscribers and interim management.

The company will be dissolved once its mandate is fulfilled.

Additionally, the committee accorded in-principle approval for the release of budgetary allocation for PIA Holding Company Ltd (PIAHCL) to meet pension and medical related expenses of the PIACL employees.

The meeting was attended by Minister for Petroleum Ali Pervaiz Malik, Minister for Power Sardar Awais Ahmad Khan Leghari, Minister for Investment Board Qaiser Ahmed Sheikh, along with federal secretaries and senior officials from the concerned ministries, divisions and regulatory bodies.


— With additional input from APP.





Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Entertainment

Taylor Swift sued by Vegas performer for trademark infringement over “The Life of a Showgirl”

Published

on

Taylor Swift sued by Vegas performer for trademark infringement over “The Life of a Showgirl”


Taylor Swift is facing a new lawsuit over her latest album, “The Life of a Showgirl,” which accuses the singer of trademark infringement. 

Filed Monday in federal court by Las Vegas performer Maren Wade, the complaint claims Swift titled her hit record despite being aware of its resemblance to the title of a column that Wade penned for Las Vegas Weekly called “Confessions of a Showgirl,” centered around anecdotes about her experiences in the entertainment industry. The column was first published in 2014, the document said, and Wade later adapted it into a live show and book by the same name.

Wade obtained a registered trademark for “Confessions of a Showgirl” from the U.S. Patent and Trademark Office in 2015. The trademark eventually received “incontestable” status, signaling the owner’s right to exclusively use it after having done so consistently for a period of years, according to the lawsuit and the trademark office.

When Swift later applied to register a trademark of her own for “The Life of a Showgirl,” the office denied her application, allegedly on the grounds that its title was “confusingly similar” to Wade’s already established one, Wade’s attorney, Jaymie Parkkinen, told CBS News in a statement.

“They continued using it anyway, expanding it across a coordinated commercial program and distributing it through retail channels reaching millions of consumers” the lawsuit said, referring to Swift’s team. It added that Wade “was never contacted” about the name.

The lawsuit claims that Swift’s album title undermined Wade’s personal brand, after the performer had spent more than a decade building it.

“She registered it. She earned it,” said Parkkinen. “We have great respect for Swift’s talent and success, but trademark law exists to ensure that creators at all levels can protect what they’ve built. That’s what this case is about.”

Wade’s complaint said similarities between “Confessions of a Showgirl” and “The Life of a Showgirl” are “immediate,” as both titles “share the same structure, the same dominant phrase, and the same overall commercial impression.” It also said the brands “are used in overlapping markets and are directed at the same consumers.”

In addition to trademark infringement, the suit also accused Swift and UMG Recordings of unfair competition and, specifically, false designation, a law that prohibits goods or services circulated in commerce from misrepresenting their origins to consumers. UMG Recordings is a branch of Universal Music Group, to which Swift is signed. The lawsuit also named Bravado International Group Merchandising Services, Inc., another branch of UMG.

Wade is seeking unspecified damages for “the irreparable harm to her business, reputation, and goodwill” as a result of the alleged trademark violation, as well as a court order that would prevent Swift from continuing to use the title of her hit album.

Swift’s commercial success “does not depend on the continued use of any single designation,” the lawsuit argued, while “Confessions of a Showgirl” is Wade’s only trademark and the basis of her “professional identity and career.”

“It is not one mark among hundreds,” the complaint said. “It is the only one she has.”



Source link

Continue Reading

Entertainment

Don Trump Jr. shares concerns over Tiger Woods’ DUI arrest

Published

on

Don Trump Jr. shares concerns over Tiger Woods’ DUI arrest


Don Trump Jr. shares concerns over Tiger Woods’ DUI arrest

President Donald Trump’s eldest son Donald Trump Jr. shares serious concerns following the rollover car crash of Tiger Woods.

Tiger Woods was charged with DUI, arrested and later released after his mugshot appeared with bloodshot eyes on March 27, 2026.

Donald Trump Jr. shares five children with his ex-wife Vanessa Trump who is currently dating Tiger Woods.

The pair got divorced in 2018, and it’s been a year now since Vanessa has reportedly been dating Woods, meanwhile Don Jr. has been engaged to Palm Beach socialite Bettina Anderson.

A source close to both Vanessa and Don Jr. has made a startling revelation to People, an online portal.

“Don Jr. has been supportive of Tiger and Vanessa, especially when it comes to the kids, which is always his main focus,” the outlet reported.

But the source, while pointing to the recent car crash of Woods, added, “the situation raised some concerns for him.”

While recognizing Vanessa’s right to make independent life decisions, the source stressed the mutual duties they both share as parents to five children, saying, “Don knows Vanessa can make her own decisions, but they’re a team when it comes to coparenting.”

“He’s just thankful Vanessa and the kids weren’t involved,” the source told the outlet citing Don Jr.’s concerns.

It’s the second time that Woods has been charged with DUI within the last decade.

Back in 2017, he was arrested in Jupiter Island after using prescription drugs and being asleep behind the wheel of a running car at 3 a.m.

And in 2021, he crashed his vehicle which resulted in serious leg injuries that kept him off the golf course for the rest of the year.

Woods had just made a comeback to professional golf earlier this week in the TGL championship after suffering a ruptured Achilles.





Source link

Continue Reading

Entertainment

Oracle fired up to 30,000 employees at 6:00 a.m. without any warning

Published

on

Oracle fired up to 30,000 employees at 6:00 a.m. without any warning


Oracle fired up to 30,000 employees at 6:00 a.m. without any warning

Oracle Corporation, a major American multinational technology company, announced the elimination of major jobs on Tuesday, March 31.

The layoff, which is estimated to affect between 20,000 to 30,000 workers, accounting 18% of Oracle’s 162,000-person global workforce, arrived without any prior warning.

A brief formulaic message circulated around 6:00 a.m. EST with the title “Oracle Leadership.”

Employees in the US, India, and other countries received the same termination emails nearly simultaneously.

The message notified them of the termination of their roles due to organizational changes and that the day of the message was their last working day. Additionally, it also noted that information regarding severance packages would be sent via DocuSign.

For many affected employees, access to internal systems was denied immediately.

The most affected teams were Revenue and Health Sciences, and SaaS and Virtual Operations, in Oracle’s cloud computing business, which reportedly lost at least 30% of the workforce.

The massive layoffs are related to Oracle’s ambitious and debt-fueled push into artificial intelligence infrastructure development.

Oracle has taken on $58 billion in new debt in two months as it rushes to build artificial intelligence data centers. 

The company’s shares have fallen by 30% since September 2025, and some banks are reportedly no longer lending to Oracle on its projects.

The news came amid Oracle reporting a 95% jump in net income, surpassing $6.13 billion last quarter. 





Source link

Continue Reading

Trending