Day: November 6, 2021

Asia liquefied natural gas (LNG) prices fell for a third straight week, as improved gas supply in Europe reduced the competition for LNG in Asia, though losses were limited by fresh demand from Pakistan and Turkey. The average LNG price for December delivery into Northeast Asia fell to $29.50 per metric million British thermal units (mmBtu), down $1.50 or about 5% from the previous week, industry sources said. European wholesale gas prices fell this week after flows from Russia through the Yamal pipeline resumed after a five-day pause. LNG cargoes…

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Leading industrialists/ exporters have demanded that first priority in respect of gas supply must be given to industries of Karachi which contribute more than 54 percent to national exports, provide highest urban employment and generate highest taxes for the Government, besides being the highest subsidy provider. They demanded that the Government must give industry total preference and top priority and cross subsidies should be reduced drastically and done away with. The gas charges for the domestic sector, fertiliser and other sectors should be rationalised. There should be some other mechanism…

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The Punjab government’s liabilities have bulged by Rs 77 billion in the third quarter of the calendar year 2021 mainly due to the depreciation of the Pak rupee, escalating it to Rs1.032 trillion from earlier Rs955 billion. As per a report released by the Punjab Finance Ministry for the period between July 1 and September 30, the debt stock of September 30 has shown an increase by eight percent from the debt stock of June 30. Although domestic loans showed a decline from Rs 5.192 billion to Rs 4.787 billion,…

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Turkmenistan-Afghanistan-Pakistan-India gas pipeline is a regional connectivity project for supplying gas to fulfill the public demand from Turkmenistan to India’s Fazilka (Punjab). It is a great regional initiative proposed by the ADB and taken by four regional countries. The TAPI pipeline seems a bridge between South Asia and Central Asia. We know Central Asia is a huge source of natural gas. Pakistan and India need the gas. The project aims to monetise Turkmenistan’s gas reserves and supply them to neighbouring countries to promote the use of natural gas and improve…

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The federal government will have to raise the petroleum levy (PL) to Rs 30 per litre, the maximum levy allowed under the existing legislation, if it is to minimise the shortfall of Rs 203 billion that it incurred under this head during July-October 2021. Prime Minister Imran Khan while chairing Pakistan Tehreek-e-Insaf core committee meeting on 20 October pledged to not only provide support to the less-privileged under the Ehsaas programme but also to provide subsidised petrol to motorcycle and rickshaws. The Rs-120 billion relief package is targeted to provide…

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