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January 16, 2019 12:00 AM LTU Karachi collects Rs587bln in first half of 2018/19

KARACHI: The Large Taxpayers Unit (LTU) Karachi has collected Rs587 billion during the first half (July–December) of the current fiscal year, amid flat growth in sales tax collection, sources said on Tuesday. The unit – the biggest revenue collecting arm of the Federal Board of Revenue (FBR) – posted only two percent growth in the collection of Inland

January 6, 2019 7:07 AM UAE crown prince meets PM Khan in Islamabad

Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed bin Sultan Al-Nahyan arrived in Islamabad after nearly 12 years on Sunday amid much fanfare for a day-long visit during which he will hold top-level meetings with Pakistani leadership. The Emirati crown prince was given a guard of honour and a fly-past salute during a welcome ceremony at PM House. He met other 9

January 5, 2019 12:00 AM Govt likely to get $4.7blnin oil, LNG credit facilities

ISLAMABAD: Pakistan is likely to grab $4.7 billion in credit facilities for oil and liquefied natural gas (LNG) imports from the United Arab Emirates (UAE) and a financial institution with a gulf nation’s deal expected to be concluded during an Emirati prince visit to the country on Sunday (tomorrow), senior officials said on Friday. The officials said Abu Dhabi’s 1

January 3, 2019 12:00 AM EETL completes 200 STS transfers

KARACHI: Engro Elengy Terminal Ltd (EETL) in nearly four years of its safe operation has pumped more than 200 billion cubic feet (BCF) of natural gas in the national grid in 2018, reducing Pakistan`s gas shortage by 30 percent, a statement iassued by the company said on Wednesday. EETL has achieved this milestone, while remaining available well above 1

December 28, 2018 12:00 AM Punjab CNG stations to remain closed for two weeks

LAHORE: Sui Northern Gas Pipeline Ltd (SNGPL) on Thursday announced that compressed natural gas (CNG) filling stations operating on re-liquified natural gas (RLNG) in Punjab will remain closed for two weeks with immediate effect. According to a notification issued by SNGPL, owing to suspension of RLNG supplies, the load management plan for CNG stations 8

December 15, 2018 12:00 AM Ogra cuts RLNG prices

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) brought prices of re-gasified liquefied natural gas (RLNG) down by more than three percent for December over the previous month, as oil prices are falling in the international market. Ogra announced the monthly prices of RLNG for consumers of Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern 13

December 13, 2018 12:00 AM PGP terminal running above capacity

LAHORE: The Pakistan Gas Port (PGP) is operating beyond its contracted capacity by dispatching 650mmscfd of regasified LNG to the Sui pipeline system, a statement said on Wednesday. Under a 15-year agreement, the Pakistan LNG Terminals Limited (PLTL) has contracted out the processing of 600mmscfd of imported LNG to the PGP Terminal. However, PGP, through 9

November 17, 2018 12:00 AM Use of RLNG cut down by over 50pc in power sector

ISLAMABAD: In a new development, Power Division has sliced down the intake of LNG for power generation by over 50 percent that has raised eye brows of many in petroleum division as the latter fears that it will have to pay more idle capacity of LNG terminal and demurrages charges in dollar terms. Nandipur and Kot Addu power plants and four sister IPPs are no more functional 6

November 14, 2018 7:16 PM Pakistan risks foreign investment with threat to reopen LNG deals

Pakistan risks scaring off investment from global energy giants eyeing one of Asia’s fastest-growing energy markets if it pursues renegotiation of contracts for two liquefied natural gas terminals, an architect of its energy policy said. Shahid Khaqan Abbasi, who ended a nine-month stint as premier in late May, championed a vast LNG infrastructure to ease energy 8

November 6, 2018 1:56 AM Oil industry wants forex exposure impact part of pricing

ISLAMABAD: The oil industry is seeking to include the impact of its foreign exchange exposure in the pricing of petroleum products in view of rising consumption, increased reliance on imports and abrupt currency fluctuations. This is part of the new downstream petroleum policy 2018 which is currently being firmed up. At a meeting last week, the industry 9