Author: Admin

$5bn Oil and Gas Investment at Risk as Government Extends Off-Grid Levy to Third-Party Gas Suppliers

Admin
oil and gas

ISLAMABAD: A proposed $5 billion investment in Pakistan’s oil and gas exploration sector is facing serious uncertainty after the government extended the off-the-grid levy to third-party gas suppliers, industry stakeholders warned, saying the move has rendered private gas distribution commercially unviable. According to a report in The News, the levy has now been applied to private distributors that procure gas from exploration and production (E&P) companies through competitive bidding at auctioned prices. Previously, the off-the-grid levy was imposed only on Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas…

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High Taxes, Costly Energy Forcing Some Firms to Exit Pakistan, Admits Finance Minister

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Muhammad-Aurangzeb

ISLAMABAD: Finance Minister Muhammad Aurangzeb on Wednesday acknowledged that high taxation, expensive energy and financing costs have compelled some companies to exit Pakistan, while stressing that the government is fully aware of the economic challenges confronting businesses. Speaking at the Pakistan Policy Dialogue in Islamabad, the finance minister said that although some firms have left the country, new foreign investment is also flowing in. He revealed that around 20 foreign investors, including Google, Aramco, Wafi Energy and Turkish Petroleum, have entered the Pakistani market over the past 18 months. “There…

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Pakistan Targets 60% Renewable Energy in Power Mix by 2030: Romina Khurshid Alam

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Romina-Khurshid

ABU DHABI: Pakistan is on track to achieve 60 percent renewable energy in its power mix by 2030, as the country rapidly transitions toward clean, affordable and people-centric energy solutions, Romina Khurshid Alam, Coordinator to the Prime Minister on Climate Change, said on Wednesday. Delivering Pakistan’s national statement at the 16th Assembly of the International Renewable Energy Agency (IRENA), Romina Khurshid Alam highlighted the country’s swift shift toward renewables, driven by grassroots adoption and policy reforms. She said Pakistan has emerged as one of the world’s fastest-growing solar markets, with…

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AGP Flags Alleged Malfeasance in Power Division Think Tank PPMC

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power-transmission

ISLAMABAD: The Auditor General of Pakistan (AGP) has raised serious concerns over alleged malfeasance and governance lapses in the Power Planning and Monitoring Company (PPMC), a key think tank of the Power Division that replaced the Pakistan Electric Power Company (Pepco) and offers lucrative remuneration packages. According to audit findings for the financial year 2024–25, PPMC violated its own HR Manual during the recruitment of Management Trainee Officers (MTOs). Under Clause 6.10 and 6.11 of the manual, if a selected candidate fails to join, an alternate candidate must be offered…

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PM Pushes for Uniform Gas Tariffs for Fertiliser, Considers Direct Subsidy to Farmers

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Gas-tariff

ISLAMABAD: Prime Minister Shehbaz Sharif has directed relevant authorities to introduce uniform gas tariffs for fertiliser plants and is considering ending subsidised gas supplies to the industry, with a proposal to extend direct financial support to farmers through the Benazir Income Support Programme (BISP) instead. Sources told The Express Tribune that a committee on gas supply, headed by Deputy Prime Minister Ishaq Dar, is already working on a framework for uniform gas pricing for fertiliser manufacturers. The prime minister issued the directive while reviewing the allocation of gas from Mari…

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