ISLAMABAD: A deadlock continues to persist between OGRA and the state-owned entity Pakistan LNG Limited (PLL) on increasing the LNG margin up to 3.75 percent as the regulator says that the revised margin will cause more increase in the LNG price for consumers in Pakistan. And more importantly, OGRA also contends that it cannot take decisions on such petitions without…
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With the Pakistan Tehreek-e-Insaf (PTI) government set to open the liquefied natural gas (LNG) market for the private sector to reduce financial risk, a Petroleum Division official has underlined the need for a long-term LNG deal. The country has already a long-term LNG deal with Qatar. Consumers are forced to consume expensive LNG due to the involvement of government entities…
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ISLAMABAD: With nearly 2.8 million gas connections pending on the network of Sui Northern Gas Pipelines Limited (SNGPL), the cabinet is likely to give priority to gas connection requests for politically motivated schemes. Already facing a gas crisis, SNGPL had to divert expensive liquefied natural gas (LNG) to domestic consumers in winter in the wake of government directives to overcome the shortage.…
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ISLAMABAD: After oil prices, consumers are set to face another setback as the Oil and Gas Regulatory Authority (Ogra) has increased prices of liquefied petroleum gas (LPG) by Rs10 per kilogram. The price of domestic LPG cylinder has gone up by Rs122 and commercial cylinder by Rs471 following the hike in LPG prices. Domestic cylinder will now be available at…
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KARACHI: Pakistan’s total oil sales rose by 11 per cent to 11.258 million tonnes during the first seven months of FY21 owing to a massive jump in demand for furnace oil (FO), high-speed diesel (HSD) and petrol. A jump of 37pc was recorded in FO sales to 1.916m tonnes during July-January period of 2020-21 followed by 12pc and 6pc in…
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ISLAMABAD: The government is currently weighing option to form local arbitration court, based on three local judges of the Supreme Court to resolve the issue of excess profits of Rs53 billion, allegedly minted by 6 important IPPs and the Attorney General of Pakistan (AGP) will update the Federal Cabinet to this effect. ‘And if the Federal Cabinet, that meets tomorrow…
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ISLAMABAD: In a positive development, 41 out of 47 IPPs that signed MoUs with the government in August 2020 have so far initialed master agreements, paving the way for their discounted tariff of Rs 836 billion in next 10-12 years. Six IPPs are still away in the wake of a dispute over resolution of excess profits of Rs53 billion from…
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Amazingly, the pace of inflation slowed down to 5.7% in January, which was the lowest rate in over two years, due to smooth supplies of perishable food items and abnormally high inflation rate in the same month a year ago. It was the consecutive fourth month that the inflation pace was on a downward trajectory. “Inflation continues to decline. January…
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Pakistan was ranked second in the list of countries with the worst air quality in 2019 by a Swiss air quality technology company. Lahore and Karachi often compete for the first position in the list of the world’s most polluted cities on the company’s website. These rankings are based on the Air Quality Index (AQI), which is based on the…
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We grew up hearing about abundance of minerals in Pakistan and their potential to bring economic change to the country. However, so far we have not really been able to harness them to bring that change. While they remained mostly buried below the ground, the country kept on sinking in the quagmire of debt which stood at $276 billion as…
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