The government has finalised the Pakistan Oil Refinery Policy 2021 with huge package of tax incentives, including 20-year income tax holiday for all taxes under the Income Tax Ordinance 2001 and upgradation of existing and new deep conversion refineries from the date of commissioning of the project. However, there will be no product off-take and rate of return guarantee for…
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Representatives from 195 countries on Friday approved a critical UN science report that will provide the most comprehensive and up-to-date assessment yet of the state of Earth’s climate. “Today, #IPCC’s latest #ClimateReport — #ClimateChange 2021: the Physical Science Basis — was approved and accepted in a historical first virtual approval session,” the Intergovernmental Panel on Climate Change tweeted on Friday.…
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The National Electric Power Regulatory Authority (Nepra) has allowed K-Electric to charge its consumers an additional cumulative cost of Rs3.64 per unit in three months (Aug-Oct) to add almost Rs5 billion to its revenue. On the other hand, it has asked ex-Wapda distribution companies (Discos) to refund about 19 paisa per unit to their consumers through negative adjustment in current…
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The Oil and Gas Regulatory Authority (Ogra) on Friday set the average sale price of re-gasified liquefied natural gas (RLNG) at about $13.22 per million British thermal unit for the current month, an increase of 2.33 per cent from last month’s $12.91 per unit. The regulator had last week notified the RLNG sale price at $13.61 for August, about 5.5pc…
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Prime Minister Imran Khan has directed the concerned to finalise the tight gas policy by the end of next month after reviewing it. On Thursday, the prime minister chaired a meeting on gas reserves in the country as the country has recently been struggling to maintain gas supply to various sectors, especially power sector and fertiliser. The meeting was attended…
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Pakistan and Oman should cooperate in diverse sectors to enhance the bilateral economic and trade relations, said Oman Chamber of Commerce and Industry Chairman Redha bin Juma Al Saleh. At a webinar organised by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Thursday, he stressed the need for collaboration in the fields of chemicals, plastics, metals, minerals…
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The senate standing committee on power has observed that the number of employees in government-owned power generation companies (Gencos) have exceeded their need and recommended a cut down on the workforce, adding that doing so would lighten the burden on the national exchequer. A meeting of the senate panel, held on Thursday, under the chairmanship of Senator Saifullah Abro also…
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THIS is now getting suspicious. What looked like rank incompetence about a year ago is now beginning to smack of malfeasance. In case you have not had a chance to follow how this government is repeatedly fumbling the business of LNG imports, here is a snapshot of the latest episode on In mid-July, Pakistan State Oil tendered in the spot…
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The government on Thursday constituted a couple of committees on Liquefied Petroleum Gas (LPG) policy. A meeting presided over by Petroleum Secretary Dr Arshad Mahmood and attended by almost all the stakeholders asked the producers, importers, marketing companies, distributors and the regulator to suggest incentives they required, investments they would make in return and what benefits these would bring to…
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State-run Pakistan State Oil (PSO) on Thursday got a better offer for Liquefied Natural Gas (LNG) from longtime friendly supplier Qatar Petroleum (QP) for delivery in the last week of current month at $15.93 per unit (22.13pc of Brent) that is still the highest-ever LNG price in the country. While accepting the lowest bid among three others, the country’s largest…
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