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Oil Sales Fall Etisalat PTCL Indus Motor LPG Prices Political Economy Dada Pota Show 04-01-2019

Dada Pota Show of 04-01-2019. The only program of business and economy in Pakistan.

Oil Sales Fall Etisalat PTCL Indus Motor LPG Prices Political Economy Dada Pota Show 04-01-2019

Dada Pota Show 04-01-2019 based on Oil Sales Fall Etisalat PTCL Indus Motor LPG Prices Political Economy.

Today, Dada G shared his opinion on important news that Oil sales fall 32pc to 9.2 million tons in July-December.

Oil sales sharply fell 32 percent to 9.2 million tons during the first half of the current fiscal year of 2018/19 as the government’s shift to alternative fuel for power generation brought furnace oil off-take down, analysts said on Wednesday.

Furnace oil sales steeply declined 67 percent to 1.5 million tons in the July-December period over the corresponding period a year earlier. “Excluding furnace oil, volumes significantly went down 15 percent, highest in the last decade,” analyst Shankar Talreja at Topline Securities said.

“After furnace oil, largest decline was seen in high speed diesel, which fell 22 percent due to availability of smuggled Iranian diesel and slowdown in economy with large scale manufacturing activities down 0.65 percent in 4MFY19.”

Motor spirit (petrol) sales were down two percent during 1HFY19 after posting growth for nine consecutive years. “Lower motor spirit sales could be attributed to rise in petrol prices by around 24 percent,” Talreja added.

Analyst Ahsan Arshad at Taurus Securities said oil marketing companies are facing multiple headwinds, including declining oil prices and rupee fluctuations, “which could result in inventory and exchange losses, weakening volumes, and liquidity issues”. Oil sales fell 23 percent year-on-year, but rose eight percent month-on-month to 1.43 million tons in December.

Sales of high speed diesel plunged 22 percent year-on-year and two percent month-on-month on account of significant surge in diesel prices. Likewise, furnace oil sales plummeted 56 percent year-on-year as government decided to close furnace oil-based power plants and commenced electricity generation through regasified liquefied natural gas, wind power plants, solar and coal-based electricity generation.

In December, petrol sales depicted a flattish trend on yearly basis as volumes clocked in at 0.60 million tons, up by 12 percent on monthly basis.

Analyst Arsalan Hanif at Arif Habib Limited said petrol sales remained stagnant primarily due to prices climbing up 24 percent year-on-year and surge in quantum of smuggled fuel from Iran despite continuous rise in sales of motor cars and motor bikes.

High speed diesel sales plummeted 22 percent year-on-year and two percent month-on-month to 0.59 million tons. Sales of furnace oil steeply decreased 56 percent year-on-year and increased 55 percent month-on-month to 0.19 million tons.

“We believe that this decline may become more evident in upcoming months, while demand may once again pick pace in summers to meet electricity demand,” Hanif said. In 2018, furnace oil and high speed diesel sales witnessed a steep decline of 51 percent and 10 percent to 4.27 million tons and eight million tons, respectively. Petrol sales grew three percent to 7.28 million tons. Last year, Pakistan State Oil suffered major loss from ongoing economic slowdown, higher petroleum product prices and shift in power generation from captive to grid as overall sales slumped 38 percent to 8.76 million tons in 2018. Its market share dropped to 43 percent vis-à-vis 54.6 percent.

Market shares of Hascol and Attock Petroleum increased to 12.4 percent and 10.3 percent in 2018 compared to 10.2 percent and 8.3 percent in 2017, largely fueled by growth in petrol sales. Shell Pakistan maintained its market share at 7.7 percent versus 7.5 percent.

The Oil Companies Advisory Committee said oil and liquefied natural gas imports fell 11 percent year-on-year to 1.84 million tons in December. The country imported zero quantity of furnace oil in December.

Imports of high speed diesel and crude oil declined 50 percent and 13 percent year-on-year, respectively. However, liquefied natural gas and petrol imports increased 33 percent and 21 percent year-on-year in December.

By & large, Dada G & Pota G presented a very good show. We received huge feedback in the form of SMS & facebook posts. If you missed today’s Dada Pota Show, there is no need to worry because you are just a click away. You can download and listen it now. “Dada Pota” show on-air at www.dadapota.pk.

ECC Shahbaz Sharif PAC National Savings Circular Debt Political Economy Dada Pota Show 03-01-2019

Dada Pota Show of 03-01-2019. The only program of business and economy in Pakistan.

ECC Shahbaz Sharif PAC National Savings Circular Debt Political Economy Dada Pota Show 03-01-2019

Dada Pota Show 03-01-2019 based on ECC Shahbaz Sharif PAC National Savings Circular Debt Political Economy.

Today, Dada G shared his opinion on important news that ECC approves supply of gas to fertiliser producers.

The federal government on Tuesday allowed the diversion of gas from power plants to fertiliser units in order to ensure availability of a key agricultural input but deferred decision on giving exemption from public procurement rules for the import of petroleum products from Azerbaijan.

Headed by Finance Minister Asad Umar, the Economic Coordination Committee (ECC) of the cabinet decided to ensure continued supply of gas to the urea manufacturing plants. Owing to the shortage of gas, there were difficulties in the provision of energy to these units.

The ECC directed the Ministry of Industries to chalk out a plan for keeping urea plants fully functional throughout the year, according to the ECC’s decision. The step is aimed at ensuring sufficient production of fertiliser to meet farmers’ needs.

By & large, Dada G & Pota G presented a very good show. We received huge feedback in the form of SMS & facebook posts. If you missed today’s Dada Pota Show, there is no need to worry because you are just a click away. You can download and listen it now. “Dada Pota” show on-air at www.dadapota.pk.

China Pakistan $2 Billion Abdul Razak Dawood Mohmand Dam Tax Revenue Dada Pota Show 02-01-2019

Dada Pota Show of 02-01-2019. The only program of business and economy in Pakistan.

China Pakistan $2 Billion Abdul Razak Dawood Mohmand Dam Tax Revenue Dada Pota Show 02-01-2019

Dada Pota Show 02-01-2019 based on China Pakistan $2 Billion Abdul Razak Dawood Mohmand Dam Tax Revenue.

Today, Dada G shared his opinion on important news that China to lend $2 billion for bolstering Pakistan’s foreign exchange reserves: report.

The $2 billion loan being pledged by China is to avoid further devaluation of the rupee against the greenback

In a largely expected development, China will lend around $2 billion to bolster Pakistan’s foreign exchange reserves and avert further depreciation of the rupee against the greenback.

The Financial Times on Tuesday reported that two senior government officials informed China would be providing Pakistan $2 billion for preventing further devaluation of the rupee against the dollar and bolster its dwindling forex reserves.

A senior government official In Islamabad said, “China’s promise to Pakistan is an indication of their commitment to help us avoid a crisis. If the rupee falls sharply and we need to prevent its slide, we can turn to China.”

According to the report, China isn’t officially announcing the financial support being extended by it to Pakistan as the government faces high debt repayments, fiscal deterioration and sliding forex reserves.

Moreover, an English daily last month had reported China doesn’t want Pakistan to highlight its help for bolstering the country’s foreign exchange reserves.

The rupee has cumulatively depreciated by approximately 26% since January 2018 and the negotiations with the International Monetary Fund (IMF) regarding a potential bailout programme are set to resume later on this month.

In December, United Arab Emirates (UAE) pledged to park $3 billion in the State Bank of Pakistan after Saudi Arabia’s decision to extend $3 billion to Pakistan in October last year.

It was stated a short-term lending arrangement could be arranged with the Industrial and Commercial Bank of China (ICBC), according to the report.

According to sources at State Bank of Pakistan (SBP), during the visit of Prime Minister Imran Khan in November, the central bank was asked for a ‘situation analysis’ for the requested financial assistance.

The bank had reportedly finalised the report which was also to be discussed during the JCC meeting held in December last month.

By & large, Dada G & Pota G presented a very good show. We received huge feedback in the form of SMS & facebook posts. If you missed today’s Dada Pota Show, there is no need to worry because you are just a click away. You can download and listen it now. “Dada Pota” show on-air at www.dadapota.pk.

Petrol Price Slashed Refineries Furnace Oil LNG Qatar Political Economy Dada Pota Show 01-01-2019

Dada Pota Show of 01-01-2019. The only program of business and economy in Pakistan.

Petrol Price Slashed Refineries Furnace Oil LNG Qatar Political Economy Dada Pota Show 01-01-2019

Dada Pota Show 01-01-2019 based on Petrol Price Slashed Refineries Furnace Oil LNG Qatar Political Economy.

Today, Dada G shared his opinion on important news that Petrol price slashed by Rs4.86 per litre on New Year’s Eve.

The price of petrol was on Monday reduced by Rs4.86 per litre, setting the price at Rs90.97 per litre.

Similarly, the price of high speed diesel was slashed by Rs4.26 per litre. After this reduction, it will be available at Rs196.68 per litre.

The price of kerosene was set at Rs82.97 after a reduction of 52 paisa. The cost of light diesel oil was cut down by Rs2.16 per litre. Its new price is now Rs75.28 per lite.

Last week, the Oil and Gas Regulatory Authority (Ogra) recommended a reduction in the prices of petroleum products by up to 13.5 per cent for the month of January 2019.

Experts believed higher US supplies would flood the market. At the same time slowing down global growth would cut into the demand. Saudi Arabia and Russia have also produced oil at record rate.

On December 7, 2018, the Orgnaisation of the Petroleum Exporting Countries (OPEC) agreed to cut 1.2 million barrels per day from the October levels.

Members would cut 800,000 barrels per day and allies would cut 400,000 bpd. Cuts would continue for six months. OPEC’s goal is to take back prices to $70 a barrel by early fall 2019. The price drop occurred just two months after global oil prices hit a four-year high of $81.20/b on September 24, 2018.

By & large, Dada G & Pota G presented a very good show. We received huge feedback in the form of SMS & facebook posts. If you missed today’s Dada Pota Show, there is no need to worry because you are just a click away. You can download and listen it now. “Dada Pota” show on-air at www.dadapota.pk.