Tag: SIFC

ISLAMABAD: Finance Minister Senator Muhammad Aurangzeb has convened an inter-ministerial meeting on Wednesday (Jan 29) to discuss key issues related to K-Electric (KE), following a proposal by the Special Investment Facilitation Council (SIFC), which is addressing Saudi investment-related concerns. Key Issues on the Agenda:Generation tariff approval.Transmission, distribution, and supply tariff under review.KE’s Rs 68 billion write-off claims pending NEPRA verification.Shareholding dispute between Al-Jomaih and Asia Pak.Mediation agreements involving KE and government entities.The meeting will be attended by Power Minister Awais Leghari, Economic Affairs Minister Ahad Khan Cheema, SAPM on Power…

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ISLAMABAD: The federal government has decided to establish a dedicated Minerals Division to accelerate the development of the country’s mineral sector, informed sources revealed. Prime Minister Shehbaz Sharif has formed an Inter-Provincial Committee (IPC) to oversee this initiative. Chaired by Federal Minister for Law and Justice Azam Nazir Tarar, the committee includes Federal Minister for Investment Bilal Azhar Kayani, secretaries from various ministries, representatives from Gilgit-Baltistan and Azad Jammu and Kashmir, and private-sector mineral experts. The committee will draft comprehensive Terms of Reference (ToRs) for the proposed Minerals Division, detailing…

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ISLAMABAD: The Special Investment Facilitation Council (SIFC) is set to deliberate on critical energy sector issues in a high-stakes meeting today (Wednesday). The agenda includes significant matters from the petroleum and power divisions, such as the proposed sale of 35% gas from new discoveries to third parties and amendments to the Greenfield Refineries Policy. Key discussions will revolve around the upgradation of the Brownfield Refineries Policy and regulatory interventions related to the Exploration and Production (E&P) sector. The council will review progress on offshore oil and gas exploration and address…

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ISLAMABAD: The Special Investment Facilitation Council (SIFC) has set a November 10 deadline for the Petroleum Division to resolve critical issues facing Pakistan’s oil refineries, hindering agreements on plant upgrades under the Brownfield Refinery Policy 2023. According to sources, a recent meeting at the Prime Minister’s Office, led by a working group on downstream policy issues under SIFC, emphasized adherence to regulatory guidelines on fuel import and stock usage. SIFC directed the Oil and Gas Regulatory Authority (OGRA) to confirm compliance with standard operating procedures (SOPs) for import approvals and…

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ISLAMABAD: Pakistan’s oil refineries have informed government officials that their lenders will not provide loans for plant upgrades unless issues, including the sales tax exemption on petrol (MS), High-Speed Diesel (HSD), and light diesel oil (LDO), are resolved. Managing directors from Pak-Arab Refinery Company, Pakistan Refinery Limited, National Refinery Limited, Attock Refinery Limited, and Cenergyico Pk Limited conveyed this during a meeting of the Working Group of the Special Investment Facilitation Council (SIFC), according to a senior official present at the meeting. High-ranking officials from the Federal Board of Revenue…

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