Senate body on petroleum discusses suspension of gas supply of Sindh industrial sector

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Fri, 29 Dec 2023, 5:46 PM

Senate body on petroleum discusses suspension of gas supply of Sindh industrial sector

ISLAMABAD, Dec 29 (APP): The Senate Standing Committee on Petroleum, chaired by Senator Mohammad Abdul Qadir, on Friday discussed the issue regarding the suspension of gas supply of Sindh industrial sector, resulting in a substantial 28% production loss.

Officials from the Ministry for Energy (Petroleum Division) while briefing the committee said that each year the country was witnessing a depletion of more than 10% of gas reserves at various gas fields, with a simultaneous increase in its demand.

This year, Sui Southern Gas Limited (SSGC) was grappling with a reduction of approximately 90 MMCFD compared to the previous year.

Secretary of the Ministry for Energy (Petroleum Division), Mohsin Agha, highlighted the sustained decline over the past 8 to 10 years, emphasizing the need for a comprehensive plan to scrutinize the policymaking.

The committee members conducted an in-depth analysis of supply statistics and gas depletion over the years, urging Ministry for Energy officers (Petroleum Division) to address discrepancies for conclusive results.

Furthermore, ministry officials provided insights into LPG rates, clarifying that OGRA (Oil and Gas Regulatory Authority) determines prices for producers, the margin of Marketing Companies (MCs), and consumers.

Pricing is based on various parameters, including the monthly determination of the producers’ price per metric ton according to the Saudi Aramco Contract Price (40% Propane: 60% Butane).

The distribution margin is fixed at Rs. 35,000 per metric ton, equivalent to Rs. 413 per cylinder.

Additionally, a petroleum levy on indigenous production stands at Rs. 4,669 per metric ton, translating to Rs. 55 per cylinder. The officers explained that GST, previously at 17% and now increased to 18% since February 2023, applies to these parameters. They clarified that the compilation of these figures makes up the consumer price.

The Secretary of the Ministry for Energy (Petroleum Division) added that active exploration of indigenous sources is underway, addressing infrastructure constraints in efforts to stabilize gas prices.

Chairman of OGRA, Masroor Khan, provided the committee members with insights into the reasons behind the increase in oil and gas prices. Senator Saadia Abbasi highlighted that the rise in cylinder prices is attributed to taxes imposed on people.

Similarly, Committee Chairman Mohammad Abdul Qadir suggested that officers explore and utilize gas transportation via seaports and large ships to mitigate price increases, ultimately benefiting the larger population struggling with rising costs.
The Chairman of OGRA mentioned that their FBR mechanism already operates at the sea border.

However, operating on large ships is currently not feasible, and efforts are underway to determine how to increase LPG operations at Karachi ports.

Chairman Mohammad Abdul Qadir recommended that officers from the Ministry of Energy (Petroleum Division) reach out to international companies and encourage them to invest.

He noted that since 2015, the ministry has been limited to purchasing LNG from 2-3 bidders, despite numerous bidders worldwide. Allowing private entities to participate could enhance competitiveness.

He also highlighted that several government and private companies are non-operative due to minor disputes, suggesting that the ministry should resolve petty matters to achieve positive collective results.

The Secretary of the Ministry for Energy (Petroleum Division) assured the committee members that they are actively pursuing a comprehensive plan and policy review, with improvements expected within a few weeks.

Banks to remain open on Saturday, Sunday for tax collection

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NNPS Desk

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Fri, 29 Dec 2023, 5:31 PM

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KARACHI, Dec 29 (APP): The State Bank of Pakistan on Friday directed all banks to keep their branches open on Saturday and Sunday for collection of taxes, duties and other government receipts.

“The branches of all banks that are open on Saturday shall observe extended working hours till 5:00 p.m. Saturday, December 30, 2023 and till 8:00 p.m. on Sunday, December 31, 2023 for collection of taxes through alternate delivery channels and over-the-counter facilities,” an SBP press release said.

The central bank also advised NIFT to arrange special clearings at 3:00 p.m. on Saturday and at 5:00 p.m. on Sunday to ensure same day clearing and settlement of payment instruments.

“To eliminate the issue of spillover of tax receipts, banks shall ensure that no instrument concerning government receipts, lodged during the aforementioned office hours, remain unattended at branch counters and must be lodged in the aforesaid special clearing in the value date of December 31, 2023,” the SBP said.

It further advised the banks to keep their branches concerned open on December 30 and 31 till such time that is necessary to facilitate the special clearings for government transactions by the NIFT.

Four killed in road accident near Khuzdar

By

AHMD Raja

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Fri, 29 Dec 2023, 5:04 PM

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KHUZDAR, Dec 29 (APP):At least four people were killed in a road accident that occurred near Karkh area of Khuzdar district of Baluchistan province, Rescue and TV Channel reported on Friday.

According to details, two rashly driven vehicles collided with each other near Karkh area, resulted in killing of four persons on the spot. Police and Rescue team rushed to the site, and shifted the bodies to a nearby hospital.

Police are investigating the matter.

PTA, HEC agree to raise awareness for preventing blasphemous activity on social media

By

AHMD Raja

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Fri, 29 Dec 2023, 5:02 PM

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ISLAMABAD, Dec 29 (APP):The Pakistan Telecommunication Authority (PTA) and the Higher Education Commission (HEC) have agreed to coordinate their efforts for raising awareness among masses to prevent blasphemous activities on internet and social media.

During a meeting, Chairman PTA Major General (Retd) Hafeez ur Rehman and Chairman HEC Dr. Mukhtar Ahmed also concurred on disseminating the message among administration, faculty, and students of all universities.

The aim is to encourage them to play an effective role in the noble cause of eradicating this menace from society.

According to a press release, both sides expressed strong enthusiasm for deep collaboration and maximising outcome through joint academic ventures. Major General (Retd) Hafeez ur Rehman highly appreciated the initiative of HEC and said that PTA is fully committed to address the challenges related to responsible use of cyberspace.

In this regard, PTA has held consultative meetings with esteemed religious scholars of the country and is engaged with multiple international organizations like UNICEF, TikTok and Telenor Pakistan for the purpose.

The collaboration between HEC and PTA will pave the way to reduce circulation of unlawful content, activities over the internet and engaging youngsters in utilizing cyberspace for productive online activities.

Dr. Mukhtar Ahmed appreciated the multiple steps taken by the PTA especially promoting safe, responsible and productive use of the internet. Recently received SAMENA international LEAD award acknowledges PTA’s commitment in ensuring child and youth safety online.

He further highlighted the flagship initiatives of HEC including ‘Pakistan Education Research Network’ (PERN) and establishment of 100 smart classrooms at universities which could be utilised in promoting awareness amongst all stakeholders especially youngsters for responsible & productive usage of cyberspace. Both sides agreed to continue efforts and support on issues concerning national interests.