A petition was filed in the Lahore High Court (LHC) on Thursday seeking reversal of recent increase in prices of petroleum products. The petition has been filed by a citizen named Munir Ahmed through his lawyer Azhar Siddique. He has made the petroleum minister, the Oil and Gas Regulatory Authority (Ogra) and others in the case. The petitioner argued that…
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The National Electric Power Regulatory Authority (Nepra)’s Maximum Demand Indicator (MDI) initiative that imposes fixed charges for electricity are causing industries to shut down, said the Lahore Chamber of Commerce and Industry (LCCI) on Wednesday. Speaking to the CEO of the Lahore Electric Supply Company (Lesco), LCCI President Kashif Anwar urged the Lesco chief to aid in the immediate removal…
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He said 100 feeders have been selected in this regard with the investment estimate of Rs170 million. He was addressing members of the Lahore Chamber of Commerce and Industry. He said that there are many rumours regarding solar net metering, in which it is being said that the rate of net metering is being reduced but the rate is not…
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The Institute for Energy Economics and Financial Analysis (IEEFA) has published analysis warning against specifics of Pakistan’s plans to incentivise gigawatts of solar project development across the country. IEEFA’s commentary, prompted by a recent public hearing concerning one 600 MW solar plant in Muzaffargarh, criticizes the 25-year PPA at a dollar-indexed tariff, calling it reminiscent of Pakistan’s excessively expensive 1990s…
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Guyana, one of the world’s hottest frontier oil plays, is expected to have its new oil production sharing agreement (PSA) model ready in time for its auction that runs through mid-April, according to Guyana’s VP. The oil and gas industry has been eagerly waiting for Guyana to draft new contract terms that have been a long time in coming after…
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Despite efforts from Canada’s Prime Minister Justin Trudeau to move away from oil sands – long hailed as the – Alberta, the country’s largest oil-producing region, is pushing to open new energy corridors with the U.S. to export its fossil fuels. As the global demand for oil and gas continues, and countries look closer to home to secure their energy needs,…
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Irfan Iqbal Sheikh, President FPCCI, has criticized the government for the total lack of consultation in the mini budget with the business, industry and trade community – the real stakeholders of the economy & taxation system; and, the real engines of economic growth, employment creation and revenue generation. Had we been consulted, we could have helped the government with a…
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Pakistan is set to announce a mini budget to generate about Rs200 billion additional revenue to meet IMF Conditionalities. The mini budget will be placed before and approved by parliament ahead of IMF final talks on 16.02.2023.The government is taking harsh taxation measures on the demand of the IMF to general more revenue for lower the fiscal deficit.Sources in FBR…
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ISLAMABAD: Prices of petroleum, oil and lubricants could surge by over Rs32/liter from tomorrow (February 16) mainly on account of the US dollar exchange rate that now stands at Rs271.82. Though free on board Platt prices have fallen considerably as compared to last fortnight’s pricing. Petroleum, oil and lubricants prices were closed at US dollar/Rs236.40 which stands at at 271.82…
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This increase in petrol price was based on the calculations of international price of petrol ie free on board (FOB) basis. Price of petrol might jump if the exchange rate was adjusted in the next review, sources in the oil sector added.
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