Month: November 2022

Deficiencies in the legal structure and infrastructure and lack of strategic planning have marred the liquefied natural gas (LNG) supply chain in Pakistan. Analysing the LNG framework and its supply chain, auditors have pointed out several deficiencies like lack of a proper structural and legal framework and proper planning, which harm LNG business. They said that it resulted in a circular debt of billions of rupees, which had trapped state-run utilities. In its report for financial year 2021-22, the Auditor General of Pakistan said that gas utilities were helping in…

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The Government is likely to impose excise duties on inefficient fans and bulbs, fix timings for shops, and marriage halls, encourage E-bikes, adding conical baffles in gas geysers and encourage carpooling as measures to conserve energy. The decision was taken at a meeting of a Committee headed by the Minister of Defence, Khawaja Asif which was attended by Minister for Power, Khurram Dastgir Khan, Minister for Law and other concerned officials. Minister for Defence, in his opening remark, said that the country is facing energy issues. Gas and electricity, both…

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Finance Minister Ishaq Dar on Saturday directed all relevant departments for early completion of the remaining steps to ensure the revival of the multi-billion-dollar Reko Diq project before the Dec 15 deadline. The apex committee on the Reko Diq project chaired by Finance Minister Ishaq Dar reviewed the progress on the implementation of agreed steps so far for the completion of the Reko Diq arrangement as agreed. An official announcement said Mr Dar highlighted the importance of early completion of the remaining steps under the agreed arrangement and stressed to…

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The government has planned to fully deregulate its petroleum products market by 2027 after the country’s oil refineries make necessary technical upgradation in 2026, according to the draft of the upcoming Pakistan Oil Refining Policy. The Oil and Gas Regulatory Authority (Ogra) is in the process of consultation with oil marketing companies and refineries. Petroleum product rates are currently determined by the government which fortnightly revisits them to keep them consistent with the price fluctuations in the international market. Full deregulation till 2027 will be finalized in consultation with all…

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Federal Minister for Finance and Revenue Ishaq Dar said that a delegation from Pakistan, led by Minister of State for Petroleum Musadik Malik, will leave for Russia on November 28 (Monday) to negotiate a potential oil deal with Moscow. “The government has authorised the Ministry of Petroleum, and on Monday, our team will leave for Russia for negotiations,” said Dar while talking to 24 News on Friday night. “I had a meeting with the Petroleum Minister and he confirmed the development to me. We should pray that the visit is…

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