Asia liquefied natural gas (LNG) prices fell for a third straight week, as improved gas supply in Europe reduced the competition for LNG in Asia, though losses were limited by fresh demand from Pakistan and Turkey. The average LNG price for December delivery into Northeast Asia fell to $29.50 per metric million British thermal units (mmBtu), down $1.50 or about…
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Leading industrialists/ exporters have demanded that first priority in respect of gas supply must be given to industries of Karachi which contribute more than 54 percent to national exports, provide highest urban employment and generate highest taxes for the Government, besides being the highest subsidy provider. They demanded that the Government must give industry total preference and top priority and…
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The Punjab government’s liabilities have bulged by Rs 77 billion in the third quarter of the calendar year 2021 mainly due to the depreciation of the Pak rupee, escalating it to Rs1.032 trillion from earlier Rs955 billion. As per a report released by the Punjab Finance Ministry for the period between July 1 and September 30, the debt stock of…
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Turkmenistan-Afghanistan-Pakistan-India gas pipeline is a regional connectivity project for supplying gas to fulfill the public demand from Turkmenistan to India’s Fazilka (Punjab). It is a great regional initiative proposed by the ADB and taken by four regional countries. The TAPI pipeline seems a bridge between South Asia and Central Asia. We know Central Asia is a huge source of natural…
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The federal government will have to raise the petroleum levy (PL) to Rs 30 per litre, the maximum levy allowed under the existing legislation, if it is to minimise the shortfall of Rs 203 billion that it incurred under this head during July-October 2021. Prime Minister Imran Khan while chairing Pakistan Tehreek-e-Insaf core committee meeting on 20 October pledged to…
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National Electronic Power Regulatory Authority (NEPRA) on ratified the government s decision to increase the price of electricity paving way for increase in the basic price of electricity. The NEPRA has decided to increase the price of electricity by Rs 1.68 paisa for domestic consumers and Rs 1.39 paisa for commercial and industrial consumers. According to officials, the increase will not…
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The state-run Pakistan LNG Limited (PLL) on Friday received yet another set of most expensive bids for two cargoes of liquefied natural gas (LNG) for delivery in third and last week of the current month. Earlier this week, PLL had invited emergency bids to make up for the sudden gas shortage caused by default on the part of two long-term…
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However, the dealers warned that they would go on strike for an indefinite period from November 20 if the government did not honour its commitment. Speaking at a news conference, Sarhad Petroleum and Cartage Dealers Association Chairman Abdul Majid Khan said the government had promised to raise their profit margin, therefore, the association was going to postpone its strike for…
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Prime Minister Imran Khan claimed again on Friday that Pakistan still had the cheapest petrol prices in the region. The Prime Minister said that there was uproar in India too over petrol prices as there is Rs150 price of per litre petrol as compared to Pakistan where it is the lowest at Rs146. He expressed these words while addressing a…
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THAT is what things have now been reduced to: jokes and desperation. Wednesday saw an example of each. It was a joke when the National Accountability Bureau (NAB) told a Senate committee that it had recovered up to Rs821.5 billion “since its inception” while the finance ministry told the same committee in the same hearing that only Rs6.5bn had been…
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