ISLAMABAD: Pakistan has slashed the prices of petroleum products by up to Rs5 per liter for the next 15 days, the Finance Division announced late Friday.
The government slashed the price of high-speed diesel by Rs5.31 to Rs258.64 per liter, while that of petrol by only Re0.50 to Rs255.63 per liter.
The price of kerosene oil went down by Rs3.53 to Rs168.12 and that of light diesel oil by Rs2.47 to Rs153.34, according to a Finance Division notification.
“The Oil & Gas Regulatory Authority (OGRA) has reviewed & adjusted consumer prices for petroleum products in view of recent fluctuations in the international oil market,” it read.
Fuel prices in Pakistan are reviewed and adjusted fortnightly. The mechanism ensures that the net impact of changes in import costs is passed on to consumers, helping sustain the country’s fuel supply chain.
Petrol is mostly used in Pakistan for private transport, small vehicles, rickshaws, and two-wheelers. At the same time, any increase in the price of diesel is considered highly inflationary as it is mostly used to power heavy transport vehicles and particularly adds to the prices of vegetables and other eatables.
Pakistan slashes petroleum prices by up to Rs5 per liter
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Pakistan slashes petroleum prices by up to Rs5 per liter
- The government cut the petrol price by only Re0.50 to Rs255.63 per liter
- Pakistan revises fuel prices every fortnight based on international rates
Pakistan regulator amends law to facilitate capital raising by listed companies
- The amendments address challenges faced by listed companies when raising further capital from existing shareholders through a rights issue
- Previously, listed companies were prohibited from announcing a rights issue if the company, officials or shareholders had any overdue amounts
KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has notified amendments to the Companies (Further Issue of Shares) Regulations 2020 to facilitate capital raising by listed companies while maintaining adequate disclosure requirements for investors, it announced on Monday,
The amendments address challenges faced by listed companies when raising further capital from existing shareholders through a rights issue. Previously, listed companies were prohibited from announcing a rights issue if the company, its sponsors, promoters, substantial shareholders, or directors had any overdue amounts or defaults appearing in their Credit Information Bureau (CIB) report.
This restriction constrained financially stressed yet viable companies from raising capital, even in circumstances where existing shareholders were willing to support revival, restructuring, or continuation of operations, according to the SECP.
“Under the amended framework, the requirement for a clean CIB report will not apply if the relevant persons provide a No Objection Certificate (NOC) regarding the proposed rights issue from the concerned financial institution(s),” the regulator said.
The notification of the amendments follows a consultative process in which the SECP sought feedback from market stakeholders, including listed companies, issue consultants, professional bodies, industry associations, law firms, and capital market institutions.
The amendments are expected to enhance market confidence, improve access to capital for listed companies, and strengthen transparency within the rights issue framework, according to the SECP.
“To ensure transparency and protect investors’ interests, companies in such cases must make comprehensive disclosures in the rights offer document,” the regulator said.
“These disclosures must include details of any defaults or overdue amounts, ongoing recovery proceedings, and the status of any debt restructuring.”
The revised regulations strike an “appropriate balance” between facilitating corporate rehabilitation and enabling investors to make informed investment decisions, the SECP added.
