Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Senior Vice President Khawaja Shahzeb Akram on Tuesday called for equal taxation for imported and locally-produced liquefied petroleum gas (LPG) to provide local industry a level playing field. “The FPCCI is not against the import of LPG. Still, it is against disparities in taxation,” he said while talking to the Pakistan…
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Byco Petroleum Pakistan Limited, Pakistan’s largest oil refining company, has signed an MoU for the first-ever implementation of SAP Ariba DSN (Digital Supplier Network) and Sourcing Suite in Pakistan. The initiative will automate the procurement process enabling a paperless process, significantly eliminating errors and unnecessary delays, as encountered in traditional procurement to the payment process.The MoU was signed by Mr.…
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Special Assistant to Prime Minister (SAPM) on Power and Petroleum Tabish Gauhar has said that the government is developing the first-ever Integrated Energy Plan to address various structural challenges in the energy sector. The SAPM tweeted this on Tuesday as detailed consultative sessions on the National Electricity Plan started following the National Electricity Policy 2021 recently approved by the Council…
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Minister for Energy Hammad Azhar has expressed the commitment to work for further enhancing energy cooperation with Iran as per the memorandum of understanding (MoU) signed during the recent visit of Prime Minister Imran Khan to Iran. Hammad Azhar said this during a meeting with Ambassador of Iran Seyed Mohammad Ali Hosseini, according to an official statement. Hammad Azhar while…
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The State Oil Company of Azerbaijan Republic (Socar) on Tuesday appeared to be back-peddling its diplomatic push for oil and gas deals with Pakistan’s public sector firms under government-to-government arrangement after an aggressive public snub by the Petroleum Division. A Socar spokesman said that various media reports appearing in the last several days did not represent the reality of successful cooperation between…
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A review of national energy resources shows that the future development and use of resources for power generation will be strongly influenced by the necessity to control environmental pollution. Currently, power generation capacity from all resources is 37,261MW, whereas the demand for electricity continues to grow fast. It is projected to have an installed cumulative power generation capacity of 79,449MW…
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Federal Minister for Planning, Development & Special Initiatives Asad Umar has emphasised that the state should own and operate selective enterprises to support economic growth, as the private sector has time and again failed to make necessary investment in potential sectors and played safe in Pakistan. Speaking at a webinar on ‘Role of the State in Economic Development’ organised by…
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Special Assistant to the Prime Minister (SAPM) on Petroleum and Power Tabish Gauhar Friday said the Pakistan Tehreek-i-Insaf (PTI) government had devised a multi-pronged strategy to reform the gas sector and meet the country’s energy needs in an efficient manner. “Our government is determined to reform the gas sector and for this purpose, we have devised a strategic workstream that…
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Just as natural gas has competed with coal as the prime fuel for electricity in the last decades, renewables are putting pressure on the blue, clean-burning source of energy. The competition is fierce and will likely get worse. Yet, it is still too early to discount gas. This was the message at the 36th International Gas Congress in Croatia, where…
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The Petroleum Division has taken another U-turn in the new draft of the LPG Policy 2021, as it proposed local LPG price of around $80 over the international price. This means that LPG importers will be able to charge $80 above CP price. Saudi Aramco sets its propane term contract price, which is then followed by Pakistan. Now, the Petroleum…
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