ISLAMABAD: The Punjab government has expressed reservations about the proposed incentives in Pakistan’s LPG Policy 2024, citing potential impacts on its share of federal tax revenues. Sources revealed that Punjab has requested a detailed report from the federal government on the financial implications of the proposed tax incentives within the new LPG policy. The Shehbaz Sharif-led administration has revived efforts…
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KARACHI: Industrialists in Hyderabad are urging the government to address a severe LPG shortage caused by the Sui Southern Gas Company’s (SSGC) failure to supply gas to eateries, food streets, and domestic users. The shortage has led to the closure of numerous LPG shops, exacerbating the crisis. Adeel Siddiqui, President of the Hyderabad Chamber of Commerce and Industry (HCCI), emphasized…
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ISLAMABAD: Vitol Trading Company, the world’s largest energy trading enterprise, has secured a tender from Pakistan’s government-owned LPG company. This marks a significant shift from Pakistan’s historical reliance on LPG supplies from its sanctioned neighboring country, which often involved illegal shipments and forged documents. The dependence on these illicit products has undermined real competition and exposed Pakistan to considerable risks.…
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LPG producers and marketing companies in Pakistan have raised concerns over the government’s proposed intervention in LPG allocation, as outlined in the new LPG Policy 2024. The industry fears that this intervention could lead to anti-competitive practices and undermine the spirit of deregulation. Under the proposed policy, the Petroleum Division suggests allocating up to 10% of LPG production to Sui…
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ISLAMABAD: The Sui Southern Gas Company Ltd (SSGCL) on Thursday accused ‘front men’ of Liquefied Petroleum Gas (LPG) market operators of making complaints before the government institutions to block state-owned entities’ retail business for creating shortages and black marketing the product for personal gains.“Most of the complainants are self-proclaimed stakeholders and they themselves do not have any stakes in the…
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The interim government has crafted a blueprint for the LPG policy in 2024, proposing the deregulation of LPG pricing alongside a range of tax incentives. Under this draft, new LPG production would enjoy a 10-year tax holiday, while petroleum levy would be abolished, and GST reduced from 18 percent to 5 percent. In this proposed framework, the Petroleum Division’s role…
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In a bid to revolutionize the Liquefied Petroleum Gas (LPG) sector, Jamshoro Joint Venture Limited (JJVL) has advocated for the deregulation of base-stock prices of local and imported LPG in the forthcoming LPG Policy. This move aims to empower market dynamics to dictate pricing, fostering healthy competition and encouraging investment in the sector, according to JJVL. Under this proposed policy,…
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These include IP and TAPI pipelines to meet future consumer demand ISLAMABAD: The top leadership has decided to press ahead with all mega gas projects including the Iran-Pakistan (IP) pipeline to meet the growing consumer demand in future. Sources told The Express Tribune that the Petroleum Division had conducted a study on the requirement and future demand for gas projects.…
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ISLAMABAD: In a new development, Special Investment Facilitation Council (SIFC) has taken the notice of closure of the Jamshoro Joint Venture Limited (JJVL) LPG-NGL extraction plant since June 2020 and directed the Petroleum Division to help resolve the disputes between the plant management and Sui Southern authorities. The plant can be used as an import substitution industry against LPG import…
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ISLAMABAD: Ministry of Energy (Petroleum Division) has finalised draft of Liquefied Petroleum Gas (LPG) Policy 2024, envisaging substantial fiscal incentives to promote domestic LPG production, its import and marketing. According to the summary of draft policy 2024 to be presented to the Council of Common Interests (CCI) for consideration, all LPG producers will dedicate up to 10% of their production…
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