Day: February 3, 2023

A parliamentary panel, on Thursday, took serious notice of 385 cases registered against gas theft, especially in Sindh. The Senate Standing Committee on Petroleum, presided over by Senator Mohammad Abdul Qadir, deliberated over the issues of gas theft from the main pipeline and was informed that a total of 385 cases had been registered against all types of theft from the pipeline. Of the 385 cases, 26 convictions had been secured while 56 accused had been fined millions of rupees. To-date, however, there have been no convictions against any PARCO…

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Sui Southern Gas (pvt) Limited (SNGPL) announced three-day closure of compressed natural gas (CNG) stations in Sindh effective from Feb 3. The company said Re-liquefied natural gas (RLNG) stations would also not be able to provide gas to the consumers. The decision has been taken in order to ensure the availability of gas supply to domestic consumers. On the other hand, all general industries and Kepto power would also not be supplied with gas on Feb 5.

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The downward streak in petroleum consumption continues as January 2023 sales by the oil marketing companies fall by 20 percent year-on-year. The decline in petroleum sales for the OMCs was led by a decline in furnace oil sales followed by high-speed diesel and motor spirit. Furnace oil posted a decline of 45 percent for volumes sold in Jan-23 year-on-year, while diesel volumes were down by 21 percent year-on-year. Motor spirit consumption was weaker by 13 percent year-on-year. Key factors for weaker sales by the OMCs in January included the ongoing…

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The International Monetary Fund (IMF) has expressed concern over the circular debt in the gas sector of Pakistan, citing sources, ARY News reported on Thursday. Sources told ARY News that the IMF delegation visited the Petroleum Division and held talks with the senior officials. The Petroleum Division’s secretary briefed the IMF delegation regarding the measures taken by the federal government. “IMF delegation expressed reservations over the existing circular debt in the gas sector and stressed bringing immediate reforms to the energy sector,” said sources. The IMF officials insisted Petroleum Division’s…

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Caught up in a vicious circle of debt, Pakistan has been spiralling deep into an economic crisis — reviving recent memories of Sri Lanka’s financial-cum-political crisis. With the Pakistani rupee falling to a record low and fuel prices shooting up, Pakistan has been struggling to fulfill the basic demands of its citizens, reports claim. But why is Pakistan in such a critical position? What is it doing to climb out of the hole and should India be worried? CNBC TV-18 takes a deep dive into the neighbouring country’s problems and the reverberations…

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