Month: November 2020

The Pakistan Tehreek-e-Insaf (PTI) government is making its mind to scale down the prices of liquefied petroleum gas (LPG) by doing away with the withholding tax (WHT) of 5.5 percent on its import, and slashing general sales tax (GST) of 17pc to 10pc on domestic production. And more importantly, 3 percent sales tax (ST) on LPG production will also be turned zero, reveals an official document on LPG policy, available with The News. The Council of Common Interests (CCI), which meets on Nov 11, may take up the proposed LPG…

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urkmenistan Ambassador to Pakistan Atadjan Movlamov on Sunday announced that the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline is at the stage of practical implementation, adding that the project is certain to be a game changer for Pakistan’s economic prosperity. He stated this while meeting with representatives of the (EJAF) Economic Journalist Association Forum in Islamabad.  Movlamov said that a 1,840km long pipeline transporting natural gas from Turkmenistan to Afghanistan, Pakistan and India would be constructed by the state-owned gas companies under the TAPI project. “We have been finalising agreements with the Pakistani…

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Exploration and Production (E&P) companies have made around 90 oil and gas discoveries in different parts of the country during the last six years. The companies found 12, 24, 17, 22, 12 and 3 hydrocarbon deposits in 2015, 2016, 2017, 2018, 2019 and 2020 respectively, out of which 10 were discovered in different parts of Punjab, 69 in Sindh, eight in Khyber Pakhtunkhwa and three in Balochistan, according to an official document available with APP. The E&P companies, during first two years of the Pakistan Tehreek-i-Insaf (PTI) government, made 26…

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ISLAMABAD: Amid opposition from consultants, experts and key stakeholders, the Cabinet Committee on Energy (CCoE) will take up on Tuesday a proposal for unbundling of two gas utilities into five smaller companies — one transmission and four provincial distribution firms — on the pattern of ex-Wapda’s 13 generation, transmission and distribution companies. In a summary to the CCoE, the Ministry of Energy’s Petroleum Division (MEPD) has sought approval of five major initiatives as part of its reforms agenda committed with the lending agencies under the IMF programme. Independent consultant KPMG,…

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Joe Biden has won the race to become the next US president, defeating Donald Trump following a cliff-hanger vote count after Tuesday’s election. The BBC projects that Mr Biden has won the key battleground of Pennsylvania, propelling him over the 270 electoral college vote threshold required to clinch the White House. The Trump campaign has indicated their candidate does not plan to concede. Mr Biden said it was now time for America to “unite and heal”. “With the campaign over, it’s time to put the anger and the harsh rhetoric…

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