KARACHI: The government has barred oil refineries from adjusting input tax on crude oil purchases against sales tax on refined products, such as petrol, high-speed diesel, light diesel oil, and kerosene—a restriction that is expected to drive up refining costs. In its quarterly report to the Pakistan Stock Exchange (PSX) for the period ending September 30, 2024, Pakistan Refinery Limited…
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ISLAMABAD: WAPDA Chairman Lt Gen Sajjad Ghani (Retd) reviewed ongoing developments at the 1,530 MW Tarbela 5th Extension Project during an extensive site visit on Tuesday, as per a press release. The chairman inspected crucial project areas, including the raised intake structure, tunnel, and powerhouse construction sites, and observed the ongoing work. In an on-site briefing, the chairman was updated…
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ISLAMABAD: The two major gas utilities in Pakistan—Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company Limited (SSGCL)—have requested an increase of up to 54% in prescribed gas prices to address revenue shortfalls for the current fiscal year (FY25). The Oil and Gas Regulatory Authority (OGRA) will conduct public hearings for these proposals, with SNGPL’s hearing set for…
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ISLAMABAD: The rapid growth of rooftop solar systems is transforming Pakistan’s energy landscape but also creating disparities for lower-income electricity consumers who remain dependent on the traditional grid. To address this, ensuring equitable energy access for all consumers is crucial. This concern was the focal point of a session titled “Navigating the Solar Surge: Ensuring Equitable Energy Access in Pakistan’s…
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Deputy Prime Minister And Foreign Minister Mohammad Ishaq Dar says Pakistan and China are committed to the expeditious completion of CPEC-2. Addressing China’s Development And Global Leadership Conference, Ishaq Qar said CPEC is a gift for Pakistan from China and the mega project has transformed Pakistan’s economy by enhancing infrastructure. He said Pakistan and China have stood with each other…
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October 29, 2024 Lahore, Pakistan – Aramco, the world’s leading integrated energy and chemicals company, has inaugurated its first fuel retail station in Pakistan. This milestone follows Aramco’s acquisition of a 40% stake in Gas & Oil Pakistan (GO), a major downstream sector player with over 1,200 nationwide fuel retail stations. Key Highlights Yasser M. Mufti, Aramco’s Executive Vice President…
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ISLAMABAD: Domestic gas consumers in Pakistan are set to face a significant financial impact as Sui Northern Gas Pipeline Limited (SNGPL) seeks an increase in gas prices by Rs64.16 per MMBTU for FY2024-25. In its recent petition to the Oil and Gas Regulatory Authority (OGRA), SNGPL requested a revised prescribed tariff of Rs1,711.73 per MMBTU, citing an estimated revenue shortfall…
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ISLAMABAD: Following confirmation to the IMF regarding an oil facility, Saudi Arabia is set to send a high-level delegation to Pakistan in December 2024 to finalize details for a $1.2 billion Saudi Oil Facility (SOF). This facility will support Pakistan’s bid for a $7 billion Extended Fund Facility (EFF) from the IMF, with Pakistan also requesting an additional $1 billion…
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ISLAMABAD: The Central Power Purchasing Agency-Guaranteed (CPPA-G) has requested Pakistan Railways to increase the number of freight trains to secure a steady supply of imported coal for the 1,320 MW Sahiwal coal-fired power plant, sources reported. CPPA-G referenced previous communications highlighting a critical coal shortage reported by Huaneng Shandong Ruyi (HSR), the plant’s operator. Transportation delays by Pakistan Railways have…
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ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has reportedly dismissed proposed amendments to the NEPRA Act aimed at implementing economic load management, asserting that these changes would contravene existing laws and consumer rights. Sources indicate that the Power Division had submitted a summary seeking specific modifications to the NEPRA Act, including: Defining “load shedding” within the Act as the…
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