Month: March 2024

PM Shehbaz Sharif Orders Inter-Ministerial Commission Amid Gas Price Hike

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Gas-tariff

Prime Minister Shehbaz Sharif has expressed concern over recent increases in gas prices. According to sources, the Prime Minister has issued directives to the Ministry of Energy to complete 16 tasks within one to three months. In response to a new proposal for a price hike in gas by SNGPL, the Prime Minister has directed for an assessment of OGRA and gas companies’ performance. The Prime Minister has also instructed for a forensic audit report on the recent gas price hike to be presented within one month. Additionally, he has…

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10 Power Distribution Companies Seek Rs2.765 Trillion Tariff Adjustment for 2024-25

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power-e-unit

Ten power Distribution Companies (Discos) in Pakistan have submitted petitions to the National Electric Power Regulatory Authority (NEPRA) seeking a significant tariff adjustment totaling Rs2.765 trillion for various components of the tariff for the fiscal year 2024-25 under the multi-Year Tariff (MYT) framework. The petitions, filed by companies such as Lahore Electric Supply Company (LESCO), Faisalabad Electric Supply Company (FESCO), Islamabad Electric Supply Company (IESCO), Quetta Electric Supply Company (QESCO), Gujranwala Electric Power Company (GEPCO), Multan Electric Power Company (MEPCO), Tribal Areas Electric Supply Company (TESCO), Sukkur Electric Supply Company,…

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Oil Industry Seeks Govt Action Against Petroleum Smuggling Crisis

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fuel-oil

The oil industry in Pakistan is sounding an alarm over the escalating issue of petroleum smuggling, which is causing significant disruptions and financial losses across the oil supply chain. Major stakeholders in the petroleum market, including the Oil Companies Advisory Council (OCAC), Oil Marketing Companies of Pakistan (OMAP), and Pak-Arab Pipeline Company Ltd (Papco), have raised urgent concerns with the government, highlighting the urgent need for intervention to combat this crisis. According to Adil Khattak, chairman of OCAC representing local refineries and major marketing companies, the rampant smuggling of petroleum…

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Chairman Ogra Says Impact of Gas Price Hike Not Justified

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Gas-Prices

During the hearing on the request by Sui Northern Gas to increase gas prices further, Chairman Ogra Masroor Ahmad Khan has stated that the impact of mandatory gas price hikes is not justified. Chairman Ogra Masroor Ahmad Khan, along with Finance Member Muhammad Naeem and Oil Member Zain-ul-Abideen, is conducting the hearing at Sui Northern Gas Company’s head office. The hearing has seen a large number of participants from industries, traders, and ordinary consumers. During the hearing, Chairman Ogra Masroor Ahmad Khan mentioned that they have listened to all stakeholders.…

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