NA told: Debt-to-GDP ratio may soar to 87pc by end-FY21 Zulfiqar Ah

Finance Minister Dr Abdul Hafeez Shaikh Monday informed the National Assembly that the debt-to-GDP ratio was expected to be 87 percent by end-fiscal year 2020-21, saying enough had been done to rationalise expenditures, broadening of tax base, and restructuring of the public sector enterprises. In a written reply, he said that the robust policy adopted by the government had resulted…

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Power sector marching towards unresolvable problems’

Chairman of National Business Group and President of Pakistan Businessmen and Intellectuals Forum Mian Zahid Hussain has said that the power sector may crumble under the burden of defective planning and wrong contracts, and the business community hope that China will bail out Pakistan from this mess. He said the power sector was marching towards un-resolvable problems while Prime Minister…

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Local LPG price increases by Rs21.78 per 11.8-kg cylinder The new p

Oil and Gas Regulatory Authority (OGRA) on Monday issued a price-revision notification of Liquefied Petroleum Gas (LPG) for the month of March. According to the notification, the authority increased the locally produced LPG price by Rs 21.78 per cylinder of 11.8 kilograms. After the revised price, the cylinder would be sold in the open market at Rs1,884.92 during the current…

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Govt to amend OGRA Ordinance

The government is likely to introduce amendments to the Oil and Gas Regulatory Authority (Ogra) Ordinance 2002 in order to give representation to provinces in the regulatory body. Provinces have supported the amendments proposed by Sindh for giving them representation in the regulatory authority. Under the amendments, the government will also appoint a vice chairman from amongst Ogra members for one year from…

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A slower quarter for E&Ps

The E&P sector’s production of crude oil and natural gas has been declining in recent years due to depleting reserves and discoveries smaller in size. E&P sector’s production flows in 2QFY21 continued to fall with around 6 and 4 percent fall in oil and gas production year-on-year, respectively. Crude oil production during 1HFY21 fell by around 6 percent year-on-year, while…

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