FOREX UPDATE

ISLAMABAD: Oil Marketing Companies will establish 200 ethanol petrol pumps across the country by 2010 at a cost Rs4 billion. According to oil OMCs� sources, Pakistan State Oil (PSO) has practically initiated the work in this regard. PSO will set up 30 E-10 filling stations in various cities of the country. The company has started selling from one of its petrol pumps E-10 fuel which is Rs2.40 per litre cheaper than the regular fuel. In order to promote the new brand of fuel, the government has already exempted the E-10 fuel from sales tax.