Islamabad: The federal government Thursday announced hike in per litre price of petrol and diesel by Rs30 each.

The announcement came after the International Monetary Fund (IMF) emphasised abolishing the subsidies on the commodities.

Government has decided to increase the prices of Petrol, High Speed Diesel, Kerosene Oil and Light Diesel Oil by Rs 30 per litre from Friday May 27, 2022. New prices will go into effect at midnight. The new price of petrol will be Rs 179.86 & diesel will be Rs 174.15 per litre.

— Miftah Ismail (@MiftahIsmail) May 26, 2022

Federal Finance Minister Miftah Ismail announed raise during a press conference.

In a tweet, the minister said: "Government has decided to increase the prices of Petrol, High Speed Diesel, Kerosene Oil and Light Diesel Oil by Rs 30 per litre from Friday May 27, 2022. New prices will go into effect at midnight. The new price of petrol will be Rs 179.86 & diesel will be Rs 174.15 per litre."

Petrol will now be available at Rs179.86, diesel Rs174.15, Kerosene oil Rs155.56 and Light diesel Rs148.31.

Ismail said the government had no other option but to raise the prices, adding that "we are still bearing a loss of Rs56 per litre on diesel" even under the new pricing.

Islamabad: Three-day `Pakistan-Turkey-Kazakhstan Youth Forum on Biotechnology’ will be arranged in September with emphasis on increasing the share of Muslim countries in biotechnology global market.

The forum, to be held from September 13-15, is being sponsored by COMSTECH-the OIC Standing Committee for Scientific and Technological Cooperation, Islamic Organization for Food Security (IOFS) and Islamic Cooperation Youth Forum (ICYF), an official said. 

The global biotechnology market is anticipated to reach a market value of US$ 775 billion by 2024 with an annual growth rate of 7.7%. Increased spending in biotechnology research and development, favourable initiatives by governments, global food security and the increasing need for emerging technologies are some of the factors influencing this growth.

Unfortunately, the share of Muslim countries in this global market of biotechnology is very little which needs to be increased.

This proposed tripartite youth forum (Pakistan-Turkey-Kazakhstan) will help promote excellence and competence in the field of agricultural biotechnology among Muslim countries.

The theme of the forum “Agriculture Biotechnology” aims at providing the best knowledge and resources to young participants to advance their research goals, the official informed.

The youth forum will stimulate the desire to collaborate and change the world of agricultural biotechnology and innovation by promoting state-of-the-art practices in biotechnology research and promoting evidence-based practices.

The event will include informative talks from young as well as the experienced scientists of the three countries.

The event will also include keynote lectures, plenary sessions, oral and poster presentations, discussions and other educational and social events that stimulate several networking opportunities among the young participants of Pakistan, Turkey and Kazakhstan.

The official highlighted that the forum aims to facilitate interactions within the young research community to discuss the latest developments in this rapidly advancing field and find ways to respond to the increasing demands of professionals and communities across the world.

The academics, students and researchers from the OIC countries may apply, while only participants from Kazakhstan, Pakistan and Turkey are eligible for the limited funding available for travel and local hospitality.

This youth forum is planned to be a hybrid event (Physical and virtual), while candidates are required to give their preference in the form.

The participants from all the member OIC states, who can bear their travel expenses may register for the forum and get ticket funding from their parent organizations.

The topics to be covered during the forum include Genome editing and new breeding technologies, large scale genomics and genomic selection in crop and livestock breeding, speed breeding for rapid genetic gain, variants of Cas proteins and their potential applications and high throughput phenomics.

SOURCE: APP

Karachi: Pakistan Navy during action in the Arabian Sea foiled a bid to smuggle narcotics worth millions of dollars.

According to PN’s spokesperson, Pakistan Navy Ship DEHSHAT in collaboration with PN air units seized approximately 4500 Kilograms of drugs at the North Arabian Sea. While undertaking maritime security operations, PNS DEHSHAT intercepted the suspicious dhow and recovered a large cache of drugs valued approximately 6.7 million dollars in the international market.

The spokesperson said that the successful operation by the Pakistan Navy in the seizure of a huge quantity of narcotics is a testimony to the fact that Pakistan Navy remains combatted to fulfill national and international obligations and maintaining good order at sea. Pakistan Navy is vigilant to counter any illegal activity and safeguard its maritime borders.

The successful execution of the anti-narcotics operation is a demonstration of the Pakistan Navy's resolve to deter and disrupt illegal activities in the maritime zone of Pakistan, the PN spokesperson said.