Month: October 2021

To reach an agreement with the International Monetary Fund (IMF) for revival of its programme, the government on Wednesday announced that it’s going for ‘rationalisation of taxes’ to bridge over Rs450bn gap in revenues it had given up on petroleum products to keep their prices one of the lowest in the world. “We will have to definitely rationalise taxes but I would not disclose more about the IMF programme at this stage,” said Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin while speaking at a joint news…

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Earnings per share were Rs68.21 during Q1FY22 slightly up from Rs67.96 in Q1FY21, notice to the Pakistan Stock Exchange said. Arif Habib Limited in its report said the company’s net sales witnessed an uptick of 2 percent YoY, settling at Rs20.726 billion in contrast to Rs20.363 billion in the same period last year amid increase in oil and gas production of 62 percent and 1 percent YoY, respectively. However, well-head gas of Mari Field dropped by 1 percent YoY. Analyst Saad Hanif of Insight Securities in his note said the…

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Pakistan and Russia have successfully concluded the 4th Russia-Pakistan Joint Technical Committee meeting in Islamabad on 28th October, 2021. The parties discussed the draft Shareholders Agreement (SHA) of the Pakistan Stream Gas Pipeline Project (PSGP). The Pakistan side technical committee was headed by Dr. Arshad Mahmood, Secretary Petroleum Division, Ministry of Energy. The meeting was also attended by senior officials of the AG Office, Ministry of Foreign Affairs, Ministry of Law & Justice, Ministry of Finance, SECP, OGRA, ISGS, GHPL and other officers from the Petroleum Division,. The Russian Technical…

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Qatar, the world’s top supplier of liquefied natural gas, will invest in Pakistan’s next import terminal in a bid to support one of the fastest growing buyers of the super-chilled fuel. Qasim Terminal Holding Co., a subsidiary of Qatar Energy, has applied for clearance with Pakistan’s government to take a stake in Energas Terminal Pvt., according to people familiar with the matter. Qatar Energy and Energas did not respond to requests for comments while Pakistan’s competition commission declined to comment.

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