Year: 2023

Ogra okays up to 75.35pc increase in natural gas price

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ogra gas

The Oil and Gas Regulatory Authority (Ogra) on Wednesday allowed two gas companies — Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company Limited (SSGCL) — to hike their prices by 74.42pc and 75.35pc, respectively. In its decision on the two companies’ petitions, Ogra allowed SNGPL to raise its average prescribed gas prices for the current fiscal year by Rs406.28/mmBtu and SSGCL to increase its average prescribed gas rates by Rs499.28/mmBtu. The two companies had asked the regulator for a hike of Rs1,294.02/mmBtu and Rs667.44/mmBtu, respectively, effective from…

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Petroleum Levy: Target still out of reach

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As Pakistan eagerly awaits the delayed IMF review, it is almost certain that it won’t come without the authorities agreeing on revised targets on petroleum tax revenues for the rest of the year. With the petroleum demand going down by 20 percent year-on-year in 1HFY23, largely due to increased retail prices, the tax collection on HSD and petrol is expected to have stayed around Rs220 billion for the first half of the fiscal year. This is around a quarter of the annual revised target agreed with the IMF in November…

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Pakistan team to attend Future Mineral Forum in Riyadh

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A three-member official delegation of the petroleum division headed by State Minister Musadik Malik has left for Saudi Arabia to attend the Future Mineral Forum (FMF), which will be held on January 10–12 in Riyadh. The petroleum secretary is also part of the delegation, a senior official of the energy ministry told The News, here on Monday. Saudi Arabia is seeking to attract SR63.7 billion ($170 billion) worth of investment in the mining industry by 2030 to help the country capitalise on its wealth of mineral resources, the total value…

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600MW solar plant: Nepra meeting witnesses heated debate on RFP

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National Electric Power Regulatory Authority (Nepra) on Monday witnessed a heated debate on Request for Proposals (RFP) for establishment of 600-MW solar power plant by the federal government at Muzaffargarh and Sindh government; Nepra feared that the period of 25 years for the project life is too long. Both the hearings were officiated by Chairman NEPRA, Tauseef H Farooqi; Member Sindh, Rafique Ahmad Shaikh; Member KP, Maqsood Anwar Khan and Member Balochistan, Mathar Niaz Rana. Power Division was represented by Additional Secretary, Zafar Abbas; CEO, Alternative Energy Development Board (AEDB)…

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