Tag: fuel

  • Crisis-hit Sri Lanka has enough petrol left for one day, PM warns

    Crisis-hit Sri Lanka has enough petrol left for one day, PM warns

    As the country suffers its greatest economic crisis in more than 70 years, Sri Lanka’s new Prime Minister (PM) declared that the country is headed to its last day of petrol stock.

    PM Ranil Wickremesinghe said the country urgently needed $75 million in foreign currency to pay for crucial imports in a televised address. In order to pay government salaries, he claims the central bank will have to print money.

    Sri Lankan Airlines, which is owned by the government, may be privatised, according to PM Wickremesinghe.

    The pandemic, soaring energy prices, and populist tax cuts have all wreaked havoc on the island nation’s economy. Medicines, fuel, and other essentials were in low supply due to a chronic shortage of foreign cash and rising inflation.

    Auto rickshaws, the city’s most popular mode of transportation, and other vehicles have been queuing at gas stations in Colombo.

    The country has enough petrol for one day at the time. Mr Wickremesinghe, who was appointed Prime Minister last week, cautioned that the next few months will be the hardest of our lives.

    He noted that shipments of petrol and diesel using an Indian credit line could provide fuel supplies in the coming days.

    Mr Wickremesinghe stated that the nation’s central bank will have to print money to assist the government in meeting its salary bill and other obligations.

    The PM stated that he is forced to allow the printing of money against his will in order to pay state employees and purchase vital products and services. However, the nation must keep in mind that printing money causes the local currency to depreciate.

    Read more: CNG prices pushed to Rs140 per kg for sales tax collection

    As part of his efforts to stabilise the country’s finances, he advocated selling out Sri Lankan Airlines. In the fiscal year ended March 2021, the airline lost 45 billion rupees ($129.5 million; £105 million).

  • Safe to fill up fuel tanks to the max in this heat?

    Safe to fill up fuel tanks to the max in this heat?

    Considering Pakistan’s scorching summer and rising petroleum prices, a claim has been made regarding how much fuel should be topped inside a vehicle.

    According to a viral image being attributed to Pakistan State Oil (PSO), motorists should not fill gasoline to the full capacity of the tank owing to rising temperatures since it may trigger an explosion in the tank. Drivers can fill half of their tank and leave the rest for air.

    Conversely, there has been no official word from the oil company in this regard; however, a similar image went viral years ago when PSO clarified that filling fuel tanks to their full capacity poses no harm to automobiles or passengers.

    The announcement came after a Whatsapp message went viral on the internet in 2018. In view of rising temperatures, the message falsely claimed that PSO had warned the public against filling gasoline tanks to full capacity.

    According to the statement from PSO, the auto-igniting temperature of gasoline is far higher than the peak summer temperatures in Pakistan. Filling a petrol tank to the maximum capacity poses no danger to the automobile or its occupants, and is considered fully safe and advantageous to the vehicle’s operation.

    Read more: CNG prices pushed to Rs140 per kg for sales tax collection

    Also, the idea that filling the vehicle’s gasoline tank to the full capacity will cause an explosion defies scientific logic.

    This is because the auto-ignition temperature for petrol is 495°F (257°C), which is the lowest temperature required to ignite a gas or vapour in air without the presence of a spark or flame. The highest recorded temperature on earth was 56.7°C (134°F), observed on July 10, 1913, at Greenland Ranch, Death Valley, California, USA.

  • PM Shehbaz rejects OGRA’s proposal, petrol price to remain unchanged till April 30

    PM Shehbaz rejects OGRA’s proposal, petrol price to remain unchanged till April 30

    Pakistan’s new Prime Minister (PM) Shehbaz Sharif on Friday dismissed the proposal from the Oil and Gas Regulatory Authority (OGRA) to raise the price of petroleum products for the fortnight. The recent decision is aimed at providing relief to the public affected by inflation.

    It is worth noting that the present government’s choice to maintain the same prices will oblige it to provide another substantial subsidy till the end of April 2022.

    Earlier, OGRA suggested to the Finance Division that the price of petrol be increased by Rs21.50 and that of diesel be hiked by Rs51.30 in view of the current petroleum levy and general sales tax (GST).

    Read more: Massive hike of Rs83.5 for petrol, Rs119 for diesel proposed by OGRA

    The authority also proposed a hike of Rs83.50 per liter of petrol and Rs119.88 per liter of diesel considering the federal government’s recommended petroleum levy of Rs30 and 17 per cent GST, as per the official statement.

  • PML-N’s Miftah Ismail fact-checked by PTI’s Hammad Azhar on load-shedding, Miftah acknowledges

    PML-N’s Miftah Ismail fact-checked by PTI’s Hammad Azhar on load-shedding, Miftah acknowledges

    Miftah Ismail, General Secretary of the Pakistan Muslim League-Nawaz (PML-N) in Sindh, recently took to Twitter, saying that Pakistan State Oil (PSO) has restricted fuel supplies to Independent Power Projects (IPPs), potentially resulting in significant load shedding in the coming week.

    He directly accused Prime Minister (PM) Imran Khan of the impending power outage, writing that it is the result of his incompetence, corruption, falsehoods, and “lust for power: that has gotten the country into such a mess.

    After an hour, Former Energy Minister, Hammad Azhar responded to Ismail’s tweet, calling it “Fake news” and claiming that he had checked with PSO and there had been no such supply cuts notified for IPPs.

    “My statement regarding IK’s corruption (Farah), incompetence (Buzdar), lying (Sh Rasheed) & hunger for power (Suri) is valid,” Ismail responded with a strange tweet to cover up his incorrect finding about PSO.

    It is worth noting that PSO serves a diverse range of customers, including Pakistan’s industrial sector, several power projects, aviation, and maritime sectors. On a daily basis, the company meets the POL needs of millions of clients.

    Apart from selling oil to Pakistan’s power utilities, such as K-Electric and Wapda, PSO is the primary supplier of furnace oil to all IPPs in the country, with a local market share of more than 80 per cent.

  • Pakistan to import 32.7 million barrels of oil to cover petroleum needs

    Under a deferred payment agreement with the Saudi Fund for Development (SFD), Pakistan would acquire roughly 32.7 million barrels (MBL) of crude oil in 2022 to cover its petroleum product needs.

    The Pak-Arab Refinery Company Limited (PARCO) and National Refinery Limited (NRL) plan to import 16.89 and 15.81 million barrels of oil in the ongoing year, respectively.

    Crude oil worth $100 million per month may be imported under the terms of the arrangement, with payment deferred for a year. The price will be set in accordance with the existing long-term agreement between Saudi Aramco, PARCO, and NRL.

    The facility will be available for a 12-month period, which may be increased for one year. The withdrawn funds, plus the margin of 3.8 per cent, will be repaid in one annual installment in US dollars.

    Previously, In June 2021, the Saudi government agreed to pay $4.2 billion in providing economic aid to Pakistan, which was legally formalised in November. While the SFD programme has been in effect since March 7, 2022, and oil purchase has now already begun.

  • ‘Imran Khan the standard you want to set for Bushra Bibi, apply the same for all women’: Maryam Nawaz

    ‘Imran Khan the standard you want to set for Bushra Bibi, apply the same for all women’: Maryam Nawaz

    Pakistan Muslim League-Nawaz (PML-N) Vice President Maryam Nawaz, in a fiery press conference, fiercely criticised Prime Minister (PM) Imran Khan.

    “Yes, your [PM Khan] wife [Bushra Bibi] is of respect to us. The standard you want to set for your wife, the same standards should have been there for the deceased Kalsoom Nawaz [wife of PML-N supremo Nawaz Sharif]. When I used to go to check on my mother from our London apartment to the hospital, three to four Pakistan Tehreek-e-Insaf (PTI) workers used to abuse me. When my son Junaid used to leave, they used to abuse his mother,” said Maryam Nawaz.

    She alleged that some PTI activists had barged into the hospital just to take pictures of an ailing Kulsoom.

    “The standard you set for your wife, apply the same for every woman,” added the PML-N leader.

    “I was innocent and you put me in the death cell. You did the character assassination of a daughter in front of her father. When I was in Gilgit Baltistan and running my political campaign in Azad Jammu and Kashmir, you did not have an answer to my political criticism. So your minister on record hurled below the belt criticism towards me.”

    “I want to request the media to play the footage of the speeches of the PTI ministers where they have made personal attacks against me. Imran Khan Sahib used to praise them for making such comments, clap at them. I too am someone’s daughter. What you have done with Asma Shirazi, Gharidah Farooqi, and Sana Bucha, the country has not forgotten it.”

    “Have the guts to take criticism,” reiterated Maryam.

    Responding to the arrest of journalist Mohsin Baig by the Federal Investigation Agency (FIA), who is accused of initiating a debate on a television show with obscene references towards PM Imran Khan and Minister for Communication Murad Saeed, Maryam said, ” When Mohsin Saab was with you [Imran Khan], helped you with your political matters, at that time he was very nice. And now that he is criticising you, you should have had the guts to take the criticism. You used FIA against him. I feel sorry for your mental condition Imran Khan Saab.”

    “People are cursing you for the price hike and increase in the petrol prices,” said Maryam, adding, “People don’t have fuel. The people of Pakistan do not travel on government-provided vehicles.”

    “I agree that you [PM Khan] are not eligible, and do not have the qualification but I wish you had a heart which was kind. You have used the hard-earned money of the people of Pakistan just to settle your score with your opponents,” said the PML-N leader.

    “You have made FIA, National Accountability Bureau (NAB) a part of your politics to settle scores with your opponents. Despite the fact that you are a liar and fake, you are sitting on the seat of a prime minister of the country, you should have spent all your time serving the people of Pakistan, instead you utilised all your energy to take revenge on the Opposition,” said Maryam.

    Talking to reporters after appearing at the Islamabad High Court in the Avenfield Apartments case, Maryam was asked if Shehbaz Sharif would resign as PML-N president if the “no-confidence gamble” failed.

    Maryam responded that she was hopeful of the move’s success “because Imran is on his last legs and it’s a risk that should be taken”, adding that the messages sent by her party to disgruntled lawmakers were also applicable to the PML-N itself.

    She did not elaborate on who she was referring to as “disgruntled” lawmakers or what messages were sent to them.

    “If the opposition does not take a united stand here then we will be blamed for it. It’s ultimately the public that we have to go back to at the time of elections.”

    Responding to a question on whether she supported another extension for the army chief, Maryam said “it’s a premature question and we don’t have any details before us”.