To reach an agreement with the International Monetary Fund (IMF) for revival of its programme, the government on Wednesday announced that it’s going for ‘rationalisation of taxes’ to bridge over Rs450bn gap in revenues it had given up on petroleum products to keep their prices one of the lowest in the world. “We will have to definitely rationalise taxes but…
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Earnings per share were Rs68.21 during Q1FY22 slightly up from Rs67.96 in Q1FY21, notice to the Pakistan Stock Exchange said. Arif Habib Limited in its report said the company’s net sales witnessed an uptick of 2 percent YoY, settling at Rs20.726 billion in contrast to Rs20.363 billion in the same period last year amid increase in oil and gas production…
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Pakistan and Russia have successfully concluded the 4th Russia-Pakistan Joint Technical Committee meeting in Islamabad on 28th October, 2021. The parties discussed the draft Shareholders Agreement (SHA) of the Pakistan Stream Gas Pipeline Project (PSGP). The Pakistan side technical committee was headed by Dr. Arshad Mahmood, Secretary Petroleum Division, Ministry of Energy. The meeting was also attended by senior officials…
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Qatar, the world’s top supplier of liquefied natural gas, will invest in Pakistan’s next import terminal in a bid to support one of the fastest growing buyers of the super-chilled fuel. Qasim Terminal Holding Co., a subsidiary of Qatar Energy, has applied for clearance with Pakistan’s government to take a stake in Energas Terminal Pvt., according to people familiar with…
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New York Times headline this August. Electric Vehicles (EVs) are a huge and essential part of the clean energy transition, no matter how you slice it. In order to have any hope of meeting the greenhouse gas emissions targets set by the Paris Climate Accords in 2016, EV adoption will have to be sweeping and global. But even if someone…
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As the United States slowly begins to recover from the economic low-point of the pandemic, some states are getting left behind. Jobs numbers are creeping up around the country, but five states — Alaska, Hawaii, Wyoming, New Mexico and Louisiana have not yet recovered more than half of the jobs lost over the course of the pandemic according to a…
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China’s trucked LNG prices have surged to more than Yuan 7,000/mt ($1,093/mt) — a record high in the non-heating season — driven by expectations of a colder-than-usual winter, higher import costs, early onset of colder temperatures and a typhoon disruption in the south, according to trade sources. We saw significant demand growth from midstream and downstream buyers, mainly city gas…
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Pakistan’s talks with the International Monetary Fund have never been an easy proposition. Throughout history whenever the country contacted the international lender, the negotiations proved to be tough. It is no different this time either. This is what the high-level delegation from Pakistan including the secretary finance, the governor of the state bank of Pakistan and adviser to the prime…
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The impact of surging gas and electricity prices globally threatens the EU’s energy market, but the bloc will not react hastily, officials said on Tuesday. An emergency meeting of EU ministers in Luxembourg to discuss the issue largely backed 11 member countries in rejecting proposals from Spain and France for deep-rooted reforms to the market. The ministers recognised the price…
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The Pakistan Petroleum Limited (PPL) earned a profit-after-tax of Rs52.4 billion, the second highest for the company.The company also announced a final cash dividend of 20 per cent on ordinary and 15 per cent on convertible preference shares. This was announced in the 70th annual general meeting of the Pakistan Petroleum Limited (PPL), held online on October 25.The members approved…
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