Author: Admin

Oil Industry Urges Immediate Government Action on Tax and Margin Issues

Admin
Oil prices

ISLAMABAD: The Oil Companies Advisory Council (OCAC) has called for urgent government intervention to address critical challenges threatening the sustainability of Pakistan’s downstream oil sector, including the removal of sales tax exemptions on petroleum products and delays in revising Oil Marketing Companies (OMCs) margins. In a letter to Prime Minister Shehbaz Sharif, OCAC Chairman Adil Khattak highlighted the financial strain caused by reclassifying petroleum products from zero-rated to exempt under the Finance Act 2024. This change has made input sales tax claims ineligible, escalating operational and capital costs for refineries…

Read More

Government Extends SEZ Incentives to Industrial Estates

Admin
Power-sector

ISLAMABAD: The government has announced plans to extend electricity supply incentives, currently available to Special Economic Zones (SEZs) under the China-Pakistan Economic Corridor (CPEC), to all industrial estates and zones across the country. A revised mechanism, developed in consultation with China and approved by the Cabinet Committee on Energy (CCOE), removes regulatory barriers for power distribution companies (DISCOs) to supply electricity to zone developers under bilateral agreements. DISCOs will now be able to sell power directly to SEZ developers with supplier licences from the National Electric Power Regulatory Authority (Nepra).…

Read More

Gold prices hit all-time high in Pakistan

Admin
gold price

Gold prices have surged to historic levels in Pakistan, driven by increases in both the international and local markets. In the global bullion market, the price of gold rose by $29 per ounce, reaching $2,772, Express News reported. Locally, gold prices hit record highs on Friday. The price of 24-karat gold climbed by Rs2,900 per tola to reach Rs289,600, while the price for 10 grams increased by Rs2,486 to settle at Rs248,285. This marks the highest price for gold since October 30, 2024, reflecting a surge driven by both international…

Read More

Global LNG: Asian spot LNG little changed on ample stocks, mild weather

Admin
LNG

KUALA LUMPUR: Asian spot liquefied natural gas (LNG) prices were little changed this week, as ample inventories and mild weather capped demand from East Asian buyers. The average LNG price for March delivery into north-east Asia rose slightly to $14.00 per million British thermal units (mmBtu), industry sources estimated. “Demand in Asia remains tepid, with East Asia demand relatively constrained amidst warmer-than-usual weather,” said Pang Lu Ming, Rystad Energy senior analyst, adding that local forecasts indicated that South Korea and Japan would see above-normal temperatures through to early and mid-February.…

Read More

Pakistan, World Bank agree to expedite implementation of Dasu Hydropower Project

Admin
hydropower

Pakistan and the World Bank have agreed to expedite the implementation of Dasu Hydropower Project (DHP) planned to build a 242-metre tall dam that will support a 4,320 megawatts (MW) hydropower station. The development was shared by World Bank’s Vice President for South Asia Martin Raiser in a post on X, after a meeting with Pakistan energy ministers, Sardar Awais Ahmad Khan Laghari (Power) and Musadik Masood Malik (Petroleum). Dasu Hydropower project: ECC approves compensations for Chinese victims Both sides “reaffirmed commitment to cleaner energy and to bring system losses…

Read More