Business
Fuel supply fears ease as oil tankers arrive at Port Qasim | The Express Tribune
Port Qasim spokesperson says vessel from Fujairah has arrived, three more ships expected in coming days
Fears of a petrol shortage in Pakistan began to subside on Tuesday as oil shipments began arriving at Port Qasim after fuel prices surged amid the ongoing US-Iran conflict in the Middle East.
According to Port Qasim Authority (PQA) spokesperson Asad Altaf Hussain Warsi, the vessel Torm Damini has already discharged about 37,000 metric tonnes of gas oil at Port Qasim over roughly 40 hours and is scheduled to sail tonight.
“The tanker Nave Atropos, carrying around 50,000 metric tonnes of Mogas (motor gasoline) from Singapore, arrived at Port Qasim on March 9 and is scheduled to berth on March 11. The vessel is expected to complete discharge operations within about 30 hours before sailing on March 12,” he said.
Read More: PM Shehbaz announces 4-day work week
Warsi further said that another vessel, Spruce II, carrying approximately 55,000 metric tonnes of Mogas from Sohar, Oman, was expected to arrive at the port today.
“The ship will berth after Nave Atropos and is expected to sail on March 13 following the completion of discharge operations,” he added.
He said a third tanker, Sea Clipper, carrying around 34,000 metric tonnes of Mogas from Fujairah, was scheduled to arrive on March 11. The vessel will berth after Spruce II and is expected to complete discharge operations within about 30 hours before sailing on March 14.
Read More: OGRA dismisses reports of Rs73 petrol, Rs84 diesel hike as ‘completely baseless’
Warsi said a vessel arriving from Fujairah had already reached the port, while three additional ships carrying petroleum products were expected in the coming days.
He added that one of the incoming vessels was arriving from Oman, while details of the remaining two ships would be shared once confirmed.
Warsi said the PQA was ensuring smooth handling and scheduling of all vessels to maintain uninterrupted port operations and steady fuel supplies.
The situation in the Middle East worsened after the United States and Israel attacked Iran, resulting in the killing of its Supreme Leader, Ayatollah Ali Khamenei. In retaliation, Iran launched attacks on Gulf states and closed the Strait of Hormuz, triggering a sharp rise in global crude oil prices.
To cope with the situation, the government last Friday increased petrol and diesel prices by Rs55 per litre. The sharp hike has intensified the cost-of-living pressures, with residents reporting higher transport fares and rising prices of daily-use items.
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
‘I had £20,000 stolen and had to fight a 13-month fraud reporting rule to get it back’
Sarah has now got her money back but there are calls to reform the deadline for reporting scams to banks.
Source link
-
Sports1 week agoNCAA men’s gymnastics championship: All-time winners list
-
Sports1 week agoWWE WrestleMania 42 Night 2: Live match results and analysis
-
Fashion1 week agoUK’s Sosandar returns to profitability amid robust FY26 performance
-
Politics7 days agoUK’s Starmer seeks to deflect blame over Mandelson appointment
-
Entertainment1 week agoLee Anderson, Zarah Sultana kicked out of UK Parliament for calling PM ‘liar’
-
Business1 week agoNo fuel shortage: Govt assures 100% domestic LPG, PNG, CNG supply amid Hormuz energy crunch – The Times of India
-
Business1 week agoHow Trump’s psychedelics executive order could unlock stalled cannabis reform
-
Sports1 week agoQuetta Gladiators opt to bowl after winning toss against Peshawar Zalmi in PSL 11 clash
