Month: April 2024

“Work Commences on IP Gas Pipeline Project Ahead of Iranian President’s Visit to Pakistan”

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gas-pipeline

As Iranian President Ebrahim Raisi prepares for his visit to Pakistan on April 22, the Ministry of Energy has initiated work on the Pakistan-Iran Gas Pipeline Project. The project aims to materialize an 80-kilometer pipeline from Gwadar to connect with the Iranian pipeline, with an estimated completion time of 24 months and a budget allocation of Rs44 billion from the Petroleum Division’s 2024-25 Public Sector Development Programme (PSDP). The Inter-State Gas Company (ISGS) has issued tenders for re-validation of surveys and Front-End Engineering Design (FEED), a step delayed for long.…

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CM Sindh Leads Critical Review of Sindh Solar Energy Project

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Solar-Energy

Karachi: A comprehensive progress review meeting of the Sindh Solar Energy Project (SSEP) was held under the leadership of Chief Minister Syed Murad Ali Shah. The meeting was attended by key officials including Energy Minister Nasir Shah, Mayor Karachi Murtaza Wahab, Principal Secretary to CM Sindh Agha Waqar, Chairperson of P&D Najm Shah, Energy Secretary Kazim Jatoi, and Treasury Secretary Fiaz Jatoi. During the briefing, Energy Minister Nasir Shah informed Chief Minister Murad Ali Shah about the SSEP, which has been initiated with a collaboration of 26.86 billion rupees from…

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Tax-to-GDP Ratio Should Be Increased Through Broadening of Tax Base Atif Ikram Sheikh

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Atif-Ikram

Karachi: Atif Ikram Sheikh, President FPCCI, has emphasized that, while FPCCI supports the efforts to increase tax-to-GDP ratio, it has to be achieved through broadening of tax base and simplification of the taxation system – rather than further squeezing the already taxed. The only pragmatic approach to achieve tax-to-GDP ratio of 15 percent in the next 5 years is to add 1.5 to 2 million new taxpayers in the tax-net, he added. Atif Ikram Sheikh maintained that the tax and FBR reforms should not be attempted in a consultation-less manner…

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Govt to reconsider privatisation of LNG plants

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LNG

Ministerial group cites challenges, risks in circular debt-plagued power sect ISLAMABAD: The Ministerial Group has cautioned against the privatisation of two LNG power plants, citing concerns about the current investment climate. The government’s intention to privatise these plants, established during the Pakistan Muslim League-Nawaz’s tenure with an LNG contract signed with the government of Qatar, is under scrutiny. Sources reveal that the apex committee of the Special Investment Facilitation Council (SIFC) directed the consideration of privatising two RLNG (Re-Gasified Liquefied Natural Gas) Power Plants. The committee constituted a Ministerial Group…

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Ministry of Foreign Affairs Urges Progress on IP Gas Pipeline Project

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gas-pipeline

The Ministry of Foreign Affairs (MoFA) has advised the Petroleum Division to expedite the Iran-Pakistan (IP) gas pipeline project without delay, citing its significance as a crucial energy initiative, according to informed sources reported by Business Recorder. MoFA’s recommendation predates recent comments by US Assistant Secretary of State for South and Central Asia Donald Lu opposing the IP project. During an inter-ministerial meeting at MoFA, the Petroleum Division representative highlighted that both the Federal Cabinet and the Cabinet Committee on Energy (CCoE) have endorsed the Ministerial Oversight Committee’s (MOC) recommendations,…

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