Govt drops another petrol bomb

ISLAMABAD The government while turning down Ogra’s proposal to maintain prices of petrol and diesel has dropped a bombshell at the masses by jacking up POL products prices by up to Rs5.13 per litre with effect from Dec 1.

The cash-strapped government on Wednesday decided to hike per litre price of light diesel oil (LDO) by Rs4.79, high speed diesel (HSD) oil by Rs4.67, Kerosene by Rs3.48 and Jet Fuel (JP1) by Rs5.13, for December. After this massive hike, according to Ogra, the new per litre price of petrol has swelled to Rs87.89, LDO is Rs86.78, HSD to Rs98.82 and Kerosene to Rs89.42.

It is to note here that the price of gulf crude oil (Arab light crude oil) has witnessed an increase from $105 to $116 per barrel despite decline in the price of high-octane blended component in global market, however by increasing petroleum levy by Rs1.73, it has been decided to maintain the price of high octane. Sources also told The Nation that though hike has been witnessed in the price of petrol in global oil market at the rate of 32paisa during the said span of time, however, Oil and Gas Regulatory Authority (Ogra) has adjusted rise in petrol prices through inland freight equalisation margin (IFEM) and recommended the government not to pass on any price increase burden of diesel the highest used fuel for transportation to so as the consumers are not over-burdened. Though Ogra in its proposal has sought to reduce the duty on HSD in a bid to maintain the price of HSD but the finance ministry has declined to entertain Ogra’s plea in the monthly revision of the prices of POL products. 

They informed that finance ministry has soared up the petroleum levy of 42paisa and a PL of 65paisa on HSD while Rs1.49 increase in the price of per litre HOBC; resultantly PL on petrol after approval from the finance ministry has surged from Rs9.52 to Rs9.94, on HSD it has now increased from Rs4.44 to Rs5.09 and PL has also been soared up from Rs6.13 to Rs7.62 per litre.

Economic pundits when contacted have argued that this surge in POL prices would unleash a new tsunami of price hike for Pakistanis and would also make the mobility literally unaffordable for commoners. Furthermore this fresh hike in oil prices will surly push up the overall inflation and will also make it all the more harder for the common man to meet both ends.

The fresh increase in POL price will eventually affect everybody regardless of their status but it will especially affect the salaried class and the underprivileged sections of the society. There will be further increase in inflation by the risen prices of oil products, and our industrial production will face more hindrances, which are already under the adverse effects of gas and electricity shortage. However, the fresh increase in prices of petroleum products will also unleash a massive spell of price spiral, further burdening the people who are already unable to bear the existing inflation.

Fire breaks out in private bank building in Islamabad

Fire broke out at 8th floor of a private bank building in Blue Area of Islamabad on Thursday morning, a private TV reported.

According to the report, the 8th floor of an 18-storey building of a private bank on Jinnah Avenue caught fire due to unknown reason. Fire brigade and rescue teams of 112 reached the spot and efforts are underway to take control of the situation.

Pakistan fight back to beat Bangladesh in Twenty20

DHAKA: Resurgent Pakistan continued their winning form to defeat Bangladesh by 50 runs in the one-off Twenty20 international at the Sher-e-Bangla stadium in Dhaka on Tuesday in a low-scoring affair.

Misbahul Haq`s men, buoyant after a successful series against Sri Lanka in the United Arab Emirates, where they won in all three formats of the game, proved their mettle once again. The tourists, playing their 50th Twenty20 match, fought back after being restricted to 135-7 to keep Bangladesh down to 85-9 on a slow wicket that hindered stroke-making.

Mohammad Hafeez claimed 2-11 in four overs and Shoaib Malik picked up two wickets in three balls as Pakistan recorded their fifth successive Twenty20 win over Bangladesh. The Tigers were in danger of falling below their lowest T20 total of 78 against New Zealand last year when they stumbled to 69-9 in the 17th over. But Nasir Hossain hit a defiant unbeaten 35 with two boundaries and a six to ensure Bangladesh batted out their stipulated 20 overs. The hosts were left to rue a lethargic batting display in which nine batsmen failed to reach double figures, while two ran themselves out.

The match was as good as over when Bangladesh lost half their side by the ninth over with the total at 23. The batsmen undid the good work by the bowlers who kept the Pakistani batting in check after Misbah-ul-Haq won the toss and elected to take first strike. Spinner Alok Kapali, the eighth bowler used by Bangladesh captain Mushfiqur Rahim, picked up two for 12 and former skipper Shakib Al Hasan finished with two for 24. Hafeez top-scored for Pakistan with 25, but found little support from the other end. The rivals begin a three-match one-day series in Dhaka on Thursday, which will be followed by two Tests.

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Pakistan expecting great things from Sohail Abbas

Pakistani hockey officials are hoping that their most valuable player — Sohail Abbas — will finally exhibit big game temperament and catapult his team to a respectable finish at the 2011 Champions Trophy which explodes into action in Auckland (New Zealand) from December 3.

The Pakistanis are featuring in the eight-nation spectacle for the first time in four years only after international hockey chiefs decided to grant them a wild-card entry.

Trailing at number nine in the world, Pakistan are the lowest-ranked team in the competition where fellow Pool A rivals Australia, the world number one team, are the favourites for the title.

Spain and Great Britain, ranked at number 4 and 5 in the world respectively, complete Pool A. Germany are bracketed in Pool B with European rivals Netherlands, Korea and hosts New Zealand.

Pakistan are fully aware that to make the cut for the last-four stage in the Champions Trophy they will have to better at least two of their group rivals.

It’s an uphill task but team officials believe that if their top man — Sohail Abbas — delivers then anything is possible.

“Hockey is a team sport and you can only guarantee good results if all your players deliver as a unit,” said Asif Bajwa, the Pakistan Hockey Federation (PHF) secretary, in an interview with ‘The News’.

“But in good teams you have to have certain match-winning players. In our team the biggest match-winner is Sohail Abbas, there is no doubt about that. If he clicks then it will certainly have an impact on our team’s overall standing,” added Bajwa, a former Olympian.

Sohail, 34, is by a long distance, the most successful player in this current Pakistan team. With almost 350 goals, he holds the world record for the highest number of goals in the history of hockey.

But Sohail’s critics argue that he seldom clicks in a major tournament like the World Cup, Olympic Games or the Champions Trophy.

Bajwa believes that time has now come for Sohail to prove his critics wrong.

“Some people have been saying it for a long time that he (Sohail) doesn’t score goals in big events. I think that Sohail should prove his critics wrong. He should give his best in New Zealand because if he does that then I’m sure that it would help our team achieve good results.”

The fact is that age is not on Sohail’s side.

The 2012 Games in London next August will most likely mark his last Olympic appearance. In fact it will take a gigantic effort from the star defender to retain his place in the national team for the 2014 World Cup in Netherlands.

Time is certainly running out for Sohail, who last year achieved rare success in a major event when he helped Pakistan regain the Asian Games crown in China.

Bajwa is of the view that in spite of his age, Sohail is still the best drag flicker in the hockey world.

“Sohail has great credentials and experience. He is still the fastest drag flicker in the hockey world. He has been doing well in recent times and we are expecting great things from him in the Champions Trophy.”

But ask Sohail Abbas and the only promise he is making is to give his best in New Zealand.

“I’ve been playing for Pakistan for over 12 years and have always tried to give my best for the country,” he said before leaving for Auckland. “I will once again go all out and try to boost my team as much as I can but in the end hockey is a team game which is why I’m hoping that all of us will perform to our potential.”

Pakistan, who last won the Champions Trophy in 1994 in Lahore, will begin their campaign in the tournament with a match against Great Britain on December 3.