Author: Admin

SNGPL-NPPMCL Dispute Over Gas Supply Invoices Escalates to PM Office

Admin
Gas-SNGPL

Islamabad: The ongoing dispute between Sui Northern Gas Pipelines Limited (SNGPL) and National Power Parks Management Company Limited (NPPMCL) has now reached the Prime Minister’s Office (PMO). The disagreement pertains to adjustments made by NPPMCL against SNGPL’s undisputed gas supply invoices, amounting to over Rs. 15.5 billion, as per an arbitration award issued in December 2021 by the London Court of International Arbitration (LCIA). BackgroundSNGPL signed Gas Supply Agreements (GSAs) on a “Firm Take or Pay” basis with NPPMCL in 2016 for its RLNG-fired Balloki and Haveli Bahadur Shah Power…

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Oil Industry Urges Immediate Government Action on Tax and Margin Issues

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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…

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Government Extends SEZ Incentives to Industrial Estates

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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).…

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Gold prices hit all-time high in Pakistan

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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…

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

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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.…

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