The net profit of Sui Northern Gas Pipelines Limited (SNGPL) shrank about 5% to Rs3.03 billion in the quarter ended September 30, 2021 mainly due to a significant increase in the cost of financing and administrative expenses. The company registered a profit of Rs3.18 billion in the same quarter (Jul-Sept) of previous year. Earnings per share of SNGPL dropped to…
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Islamabad Chamber of Commerce and Industry (ICCI) President Muhammad Shakeel Munir has slammed Nepra for approving an unprecedented tariff hike of Rs7.90 per unit under fuel cost adjustment for May 2022. He termed it a very harsh decision as it would put an extra burden of Rs136 billion on the electricity consumers in their bills for July 2022. Speaking at…
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The world’s seven-largest industrialized economies have floated the idea of a price cap on Russian oil to further squeeze the Kremlin’s ability to fund its onslaught in Ukraine and try to protect consumers amid surging energy prices. The G-7′s pursuit of a price ceiling on Russian oil is not without its challenges, however, with energy analysts highly skeptical about the…
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Policy makers are often keen to glance at old documents; these archives help them identify two major indicators of progress and bottlenecks. A glance at a published USAID report of 1982 states: “Although Pakistani exports have increased over the years, the country continues to suffer from chronic trade deficits, and it remains heavily dependent on imported petroleum products.” In 2022,…
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The world’s largest crude oil exporter, Saudi Arabia, continues to keep close ties with Russia while the top oil consumer, the United States, pleads with major producers—including the Kingdom—to boost supply to the market and help ease consumers’ pain at the pump. While the U.S. and its Western allies are sanctioning Moscow and banning oil imports from Russia, U.S. President…
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REHMAN HABIB CONSULTANTS (RHC) and Partners (TTT, IConsult, AAS), IBF (Belgium), Asian Development Bank (ADB) and Punjab Govt. Join Hands to Improve Local Govt. Service Delivery and Capacity Building A one-day consultative workshop was organized with relevant stakeholders to share findings of Training Need Assessment (TNA) of local Govt. officials besides devising strategies to strengthen design of Punjab Local Govt.…
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The Federal Government presented Finance Bill 2022 in the National Assembly on June 10, 2022. After the debate in the Senate and National Assembly, the Government has passed Finance Act, 2022 which contains those proposals of Finance Bill which were eventually approved with certain modifications and certain new amendments made in the Bill during the above process. The amendments made…
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With the continuous rise in the prices of petroleum products, the country has witnessed a decline in the consumption of fuel during the last month, Geo News reported. In a bid to strike a deal with the International Monetary Fund (IMF), the incumbent government has removed fuel subsidies and jacked up the fuel prices for a third time in 36…
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The ‘International Monetary Fund-dictated’ budget 2022-23 has come into force after the parliament passed it without much ado and the president has signed the finance bill into law. The Rs9.579 trillion annual federal budget carried an unprecedented fiscal adjustment of more than Rs1.75tr or 2.2 per cent of GDP in a single year. It contained new taxation measures of almost…
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High fuel prices, liquidity crunch and lesser energy supply in global chain have been hampering power generation badly, which translates into electricity loadshedding of 6-14 hours daily in various parts of the country. According to information shared by the Prime Minister’s Office, loadshedding today is almost entirely caused by acts of omissions and commission of the previous government during 2018-22.…
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