The Pakistan State Oil (PSO) has signed multiple infrastructural MoUs of strategic importance with Pak Arab Refinery Limited (PARCO) and Pak Arab Pipeline Company (PAPCO) which aim to safeguard the country’s petroleum product supply chain and enable economical and environment friendly transportation of fuels.
The entities will jointly develop a strategic pipeline link of 20 km between the ports of Keamari and Port Qasim for the transportation of motor gasoline and high speed diesel called the Keamari Korangi Link Pipeline 2 (KKLP-II). This is a major milestone on the road to sustainability and environment friendly initiatives as it will significantly reduce harmful tailpipe emissions, ensure safe transportation of highly volatile petroleum products and ease traffic congestion in Karachi and other cities.
PSO and PARCO also agreed to explore the option of developing a terminal at Hub having a single point mooring (SPM) system which will allow imports through VLCCs. The MoUs were signed by the Managing Director & CEO PSO - Syed Taha, Managing Director PARCO - Shahid Mehmood Khan and Chief Executive PAPCO - Amr Ahmed. Senior PSO officials including Chief Commercial Officer - Shehryar Omar, General Manager Infrastructure Projects and Maintenance – Hammad Zafar and General Manager Supply - Asad R Faiz were also present during the ceremony.
This partnership will bring synergy in the shared national agenda and accelerate the economic progress of Pakistan while further cementing business ties between the national entities.
Pakistani rupee remains stable against US dollar in the open market on 29 March, 2024.
In the open market, the US dollar was being quoted at 278.3 for buying and 281.05 for selling.
Euro moves down to 299.75 for buying and 302.75 for selling while British Pound hovers around 353.75 for buying, and 357.25 for selling.
UAE Dirham AED remains stable at 75.55 whereas the Saudi Riyal saw minor increase, with new rates at 73.70.
Currency | Symbol | Buying | Selling |
US Dollar | USD | 278.3 | 281.05 |
Euro | EUR | 299.75 | 302.75 |
UK Pound Sterling | GBP | 353.75 | 357.25 |
U.A.E Dirham | AED | 75.55 | 76.3 |
Saudi Riyal | SAR | 73.70 | 74.4 |
Australian Dollar | AUD | 182.9 | 184.7 |
Bahrain Dinar | BHD | 739.61 | 747.61 |
Canadian Dollar | CAD | 204.25 | 206.46 |
China Yuan | CNY | 38.74 | 39.14 |
Danish Krone | DKK | 40.30 | 40.7 |
Hong Kong Dollar | HKD | 35.55 | 35.9 |
Indian Rupee | INR | 3.33 | 3.44 |
Japanese Yen | JPY | 1.86 | 1.94 |
Kuwaiti Dinar | KWD | 901.14 | 910.14 |
Malaysian Ringgit | MYR | 59.25 | 59.85 |
New Zealand Dollar | NZD | 168.56 | 170.56 |
Norwegians Krone | NOK | 26.19 | 26.49 |
Omani Riyal | OMR | 724.36 | 732.36 |
Qatari Riyal | QAR | 76.57 | 77.27 |
Singapore Dollar | SGD | 206.25 | 208.25 |
Swedish Korona | SEK | 26.89 | 27.19 |
Swiss Franc | CHF | 313.78 | 316.28 |
Thai Bhat | THB | 7.76 | 7.91 |
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