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Pakistan minister dispels rumours about shortage of petroleum products

Warns again hoarding

09:41 PM | 8 Feb, 2023
Pakistan minister dispels rumours about shortage of petroleum products
Source: File Photo

ISLAMABAD – Minister of State for Petroleum Musadik Malik has dispelled the rumours of petroleum products' shortage in the country and warned of action against those involved in hoarding the commodities.

His remarks comes as several filling stations in different cities of Punjab, including Lahore, Faisalabad and Gujranwala, have stopped operations while others are providing limited quantity of petroleum products to consumers allegedly due to disruption in supply by the oil marketing companies.

Malik held a press conference in the federal capital to address the reports, stating Pakistan has sufficient stock of diesel and petrol.                     

Warning the hoarders, the minister said the government will revoke the licenses if someone found involved in creating artificial shortage in the country. He also rejected the impression that government was going to increase the prices of petroleum products.                                    

Meanwhile, the Oil and Gas Regulatory Authority (Ogra) has written to the chief secretary Punjab to take action against illegal hoarding of petrol and diesel. It also demanded immediate action against the elements behind this illegal practice in order to provide relief to public. 

Daily Pakistan Global Web Desk

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Pakistani rupee exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 4 March 2024

Pakistani rupee remains stable against US dollar in the open market on March 4, 2024 (Monday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.3 for buying and 282.45 for selling.

Euro currently stands at 302.5 for buying and 305.5 for selling while British Pound rate stands at 354 for buying, and 359 for selling.

UAE Dirham AED hovers at 76.3 whereas the Saudi Riyal saw slight increase, with new rates at 74.5.

Today’s currency exchange rates in Pakistan - 4 March 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.3 282.45
Euro EUR 302.5 305.5
UK Pound Sterling GBP 354 359
U.A.E Dirham AED 76.3 77
Saudi Riyal SAR 74.5 75.3
Australian Dollar AUD 181 183
Bahrain Dinar BHD 737.97 745.97
Canadian Dollar CAD 207 209.2
China Yuan CNY 38.82 39.22
Danish Krone DKK 40.23 40.63
Hong Kong Dollar HKD 35.7 36.05
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.1 2.18
Kuwaiti Dinar KWD 901.62 910.62
Malaysian Ringgit MYR 58.49 59.09
New Zealand Dollar NZD 168.97 170.97
Norwegians Krone NOK 26.54 26.84
Omani Riyal OMR 725.68 733.68
Qatari Riyal QAR 76.74 77.44
Singapore Dollar SGD 207 209
Swedish Korona SEK 27.13 27.43
Swiss Franc CHF 314.07 316.57
Thai Bhat THB 7.74 7.89

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