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Day: June 1, 2023

E&P firms seek Rs500bn tariff differential subsidy to bridge revenue gap in gas sector

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Rs500bn-tariff

ISLAMABAD: Oil and gas exploration and production (E&P) companies have sought a budgetary grant or tariff differential subsidy of at least Rs500 billion in the 2023-24 fiscal year to partially adjust the accumulated revenue shortfall of state-owned gas companies. They said that recovering the past years’ revenue shortfall from the consumer will take considerable time. “This will greatly facilitate E&P…

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Ecnec clears four projects worth Rs120bn

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Ecnec-clears

ISLAMABAD: The Exe­cutive Committee of the National Economic Council (Ecnec) on Wednesday approved four development projects in Azad Kashmir, Gilgit-Baltistan and Khyber Pakhtunkhwa with a total estimated cost of Rs120.185bn. Presided over by Fina­nce Minister Ishaq Dar, the meeting of the committee was also attended by Minister for Planning and Develop­ment Ahsan Iqbal, SAPM on Finance Tariq Bajwa, Senator Nisar…

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Gas tariff concession for export sector extended till June

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Gas-tariff

ISLAMABAD: The government has extended a concessionary tariff of $9 per million British thermal units (MMbtu) for the supply of gas to five export-oriented sectors for the months of May and June 2023, the Ministry of Energy said. A supplementary grant of Rs4.0 billion will be provided to Sui Northern Gas Pipelines Limited (SNGPL) to facilitate the disbursement of a…

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Nepra likely to allow Discos to charge Rs1.61/unit more

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NEPRA

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) Wednesday hinted at allowing the state-run power distribution companies (discos) to collect an additional Rs1.6076/unit, while the K-Electric was directed to reimburse a meager Rs0.0472/unit to the consumers in June bills.This preliminary calculation was expressed in a public hearing on these companies’ petitions on account of their monthly fuel charges adjustments (FCAs)…

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Rethink for Sustainability and Progress – 6th Edition of LEADERS IN ISLAMABAD BUSINESS SUMMIT

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LEADERS-IN-ISLAMABAD

Islamabad, May 31, 2023: Nutshell Conferences Group and Martin Dow Group, in strategic partnership with Overseas Investors Chamber of Commerce and Industry, and Unity Foods Limited, hosted Day 1 of the 6th Edition of LEADERS IN ISLAMABAD BUSINESS SUMMIT, with the theme “The BIG Rethink.” The sub-themes on Day 1 varied from the need for the Big Re-Think, to Leadership…

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Chinese IPP serves notice of payment default on CPPA

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Chinese-IPP

KARACHI: Port Qasim Electric Power Company Ltd (PQEPC), which runs a $1.9 billion power plant of 1,320 megawatts on imported coal, has served a formal notice of payment default on the Central Power Purchasing Agency (CPPA). The total verified due amount that the state-backed, sole electricity purchaser owes the independent power producer (IPP) amounted to Rs77.3bn or $263.5 million as…

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