ISLAMABAD: A draft of the federal budget with over Rs6 trillion deficit has been prepared that will be presented in the cabinet on Friday (today) for its approval and later in the day in parliament. It carries a proposal of imposing new taxes worth Rs700 billion. The total outlay of the budget is expected to be Rs14.5 trillion. The government…
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ISLAMABAD: Calling acquisition of energy a real challenge in the present era, Prime Minister Shehbaz Sharif on Thursday expressed confidence that the Turkmenistan-Afghanistan-Pakistan-India (Tapi) gas pipeline project would usher in an era of regional cooperation, development and prosperity. “Tapi is an important project for the prosperity of the entire region,” the PM said while addressing the signing ceremony of Tapi…
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LAHORE: Average natural gas consumption reduced by 8.61 percent to 3,258 million cubic feet per day (mmcfd) year-on-year in July-March 2023 (9MFY23) period against 3,565 mmcfd use recorded in the corresponding period last year.According to Economic Survey 2023 released by the government, total consumption of indigenous gas and imported Regasified Liquefied Natural Gas (RLNG) stood at 2,627 mmcfd and 631…
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KARACH: Pakistan’s import of petroleum products will fall with domestic value-addition due to the country’s enhancing refining capacity, the Economic Survey for fiscal 2022-23 indicated on Thursday. The survey stated that the total demand for petroleum products remained at 23.1 million tonnes during FY2022. However, this year witnessed a decline in demand to 13.1 million tonnes during July-March FY2023 from…
Read MoreISLAMABAD: The government on Thursday cut the re-gasified liquefied natural gas (RLNG) prices for both the Sui companies by up to $0.714 per MMBtu (or 5.22 percent) for the month of June, 2023. RLNG price for the Sui Northern Gas Pipelines Limited (SNGPL) consumers has been reduced by $0.6816 per MMBtu, while for Sui Southern Gas Company (SSGC) clients, prices…
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ISLAMABAD: Under a constantly rising debt burden, the Pakistani economy has been rapidly borrowing. In the span of just one year, the PMLN-led coalition government has piled up over a third or Rs14.881 trillion debt on the nation, ballooning it to a staggering Rs59.247 trillion by the end-March 2023. This trend of escalating debt accumulation is consistent with each successive…
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ISLAMABAD: Pakistan risks a fine of $18 billion for not completing the Pakistan-Iran gas pipeline project in the timeframe stipulated in the agreement, the Public Accounts Committee (PAC) was informed on Wednesday. The apex committee of the National Assembly (NA) met with Noor Alam Khan in the chair and deliberated on the non-utilisation of Rs332 billion in gas infrastructure development…
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Total PARCO Pakistan Limited, one of the largest multinational energy company in Pakistan, recently organized an event titled “Transforming Lives with Positive Action in New Reality” at Government College University (GCU) in Lahore. The event featured Mr. Mehmet Celepoglu, Chief Executive Officer of Total PARCO Pakistan Limited (TPPL), who delivered an inspiring speech to the young students and enthusiastic audience…
Read MoreISLAMABAD: German Ambassador Alfred Grannas has urged the government to approve Category-III renewable energy projects to provide affordable and clean energy to underprivileged parts of the country. In a letter to Minister for Power, Khurram Dastgir Khan, German Ambassador referred to M/s ibvogt GmbH, one of the German largest solar developers, which has been actively involved in the development of…
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TAPI is a transformation agenda for the region not just a pipeline,” said Dr Musadik Malik. A high level delegation of Turkmenistan led by State Minister & Chairman of Turkmengas Mr. Maksat Babayev, held meeting with the Pakistani delegation led by Minister Of State for Petroleum Dr. Musadik Malik here today. Both sides discussed various aspects of the flagship Turkmenistan-Afghanistan-Pakistan-India…
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