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Ore Transit Halt Causes Rs 20 Mn Daily Loss, says Mining Association

The Pakistan Bureau of Statistics (PBS) reported an extraordinary 850 per cent surge in gas prices over the past four months. The Goa Mineral Ore Exporters' Association (GMOEA) stated on Wednesday that continuous disruptions in transporting iron ore from Vedanta Sesa Goa's Bicholim mine block are causing daily losses of nearly Rs 20 million. According to GMOEA secretary Glenn Kalavampara, villagers' "unreasonable demands" are having detrimental financial and reputational effects.The GMOEA emphasized that the government bears responsibility for addressing these concerns, as it had auctione..

Pakistan Hit by Staggering 850% Gas Price Hike Amid Soaring Inflation

The Pakistan Bureau of Statistics (PBS) reported an extraordinary 850% surge in gas prices over the past four months. During a session of the National Assembly chaired by Deputy Speaker Ghulam Mustafa Shah, detailed data on the rising costs of essential commodities were presented. The PBS highlighted that sugar prices had increased by 53.5 per cent, while palm oil prices rose by 61 per cent over the past five years. Additionally, soybean oil, wheat, and crude oil experienced a 35 per cent price hike during the same period. The PBS attributed the overall inflation to the rising c..

Iranian Oil Minister Appointed as OPEC President

Iranian Oil Minister Mohsen Paknejad has been chosen as the rotating president of the Organization of the Petroleum Exporting Countries (OPEC) for 2025. OPEC announced the election of its upcoming president in a press release on its website and expressed gratitude to Marcel Abeke, Gabon's minister of petroleum, for his leadership as the organisation's president in 2024. This announcement was reported by Xinhua news agency, citing Iran's official news agency, IRNA. IRNA reported that Paknejad expressed his dedication to leveraging all his capabilities to ensure the organisation's cons..