Islamabad. The Oil and Gas Regulatory Authority (OGRA) in accordance with the Policy Guidelines of the Federal Government has determined the Regasified Liquified Natural Gas (RLNG) prices for sui companies with effective from March 1st, 2024 as under: The increase in RLNG prices is due to increase due to increase in the cost of supply. The RLNG price notification for the month of March, 2024 is readily available at OGRA website www.ogra.org.pk. (Imran Ghaznavi) Spokesperson Islamabad, March 20, 2024: The Oil and Gas Regulatory Authority (OGRA), in accordance with the…
Read MoreDay: March 20, 2024
Unequal Taxation Hits Electricity Consumers in Pakistan
Islamabad (Tanveer Hashmi): The revelation of unequal and unfair taxation on electricity consumers in electricity bills has come to light. Electricity duty is imposed on consumers in electricity bills without any legal basis, as revealed in the inquiry by federal tax authorities. It has been found that consumers, especially low-income individuals, are bearing the burden of income tax and sales tax on their electricity bills, despite their income being below the taxable income threshold. Regardless of consumers’ income levels, the uniform imposition of electricity duty (ED) places a significant financial…
Read MoreGovernment Faces Challenges in Formulating Strategy to Address Electricity Crisis
The federal government is grappling with the task of devising a strategy to tackle the ongoing power sector crises, with conflicting signals emerging from the Prime Minister’s Office (PMO) regarding the future of Distribution Companies (Discos). Under Prime Minister Shahbaz Sharif’s leadership, the government appears undecided between two proposals: outsourcing Discos to the private sector through long-term concessional agreements or transferring control of Discos to the provinces. According to insights from power sector experts and officials familiar with Discos’ privatization, the government must consider implementing differential tariffs for Discos regardless…
Read MoreIMF and Pakistan Reach Staff-Level Agreement on Final Bailout Review
The International Monetary Fund (IMF) has reached a staff-level agreement with Pakistan regarding the final review of a $3 billion bailout. This agreement paves the way for Pakistan to receive $1.1 billion upon approval from the Fund’s Executive Board. The agreement, recognizing Pakistan’s strong program implementation and ongoing reform efforts, aims to transition the country towards a sustainable economic recovery. Nathan Porter, the IMF mission chief in Pakistan, highlighted the positive developments in Pakistan’s economic and financial position since the first review. He mentioned that growth and confidence are recovering…
Read MoreCOP28 Goal of Tripling Renewables Feasible Only with Urgent Global Course Correction
Despite a record renewable growth in 2023, the energy transition remains off track due to persistent structural barriers and a notable shortfall in investment. Abu Dhabi, United Arab Emirates/Berlin, Germany, – Achieving the global target set at COP28 to triple renewable power capacity by 2030 relies heavily on establishing conducive conditions for such growth. Tripling renewable power capacity by 2030 is technically feasible and economically viable, but its delivery requires determination, policy support and investment at-scale.Tracking COP28 outcomes: Tripling renewable power capacity by 2030 highlights that 2023 has set a…
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