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Articles for tag: 20day, companies, Conflict, directs, IranIsrael, maintain, midst, ogra, OGRA directs petroleum companies to maintain 20-day stocks in the midst of Iran-Israel conflict, Petroleum, stocks

June 21, 2025

News Desk

OGRA directs petroleum companies to maintain 20-day stocks in the midst of Iran-Israel conflict

Listen to the article The Oil and Natural Gas Regulatory Authority (OGRA) has directed all oil marketing companies (OMCS) to keep fuel stocks to ensure uninterrupted supply throughout the country in the midst of evolving market conditions after the Iranian-Israel conflict. In a statement issued on Saturday, OGRA spokesman Imran Ghaznavi said all OMCs have been ordered to maintain 20 -day mandatory fuel reserves, as required in accordance with licensing terms. “OGRA further emphasizes that companies must fully comply with these conditions to ensure smooth fuel at national level,” the statement said. Ghaznavi added that Pakistan has currently sufficient oil

June 11, 2025

News Desk

Govt Sets Record Petroleum Levy Target in Rs1.47TR

Listen to the article Islamabad: The government has set an ambitious goal for Levy Petroleum Levy (PL) for oil products for the next use, which would have resulted in refusing consumer relief despite a reduction in international oil prices. The Economic Coordination Committee (ECC) has recently increased the maximum ceiling of the oil levy to RS90 per liter. Taking into account the highest limit of oil levy, the government has decided to increase the revenue of revenue due to PL for oil products. According to budget documents, the government increased the target of oil collection by 26% for the next

April 15, 2025

News Desk

Falling World Prices of Petroleum on Pakistan’s Invoice Impact: SBP Commander

The Governor of the State Bank of Pakistan (SBP) Jameel Ahmad. – x/@statebank_pak The SBP governor expects a total positive impact despite US invoices. The impact on US invoices is “contained” in Pakistan, the economy. Stocks are expected to reach $ 14 billion by June, says the SBP commander. The Governor of the Pakistani State Bank (SBP) Jameel Ahmad on Monday expects the recent fall in global oil prices would hit the impact of the proposed mutual invoices imposed by US President Donald Trump on Pakistan. Trump last week announced a 90 -day pause for invoices, saying it made the

January 25, 2025

News Desk

Petroleum industry seeks emergency govt intervention

Listen to the article Islamabad: The Oil Company Advisory Council (OCAC) has raised serious concerns about delays in resolving the removal of tax exemption on oil products and the revision of margins for oil marketing companies (OMCS). OCAC, an independent body representing refineries, OMCs and a pipeline company, supports the interests of the oil industry downstream before government and non -governmental forums to ensure its viability. In a letter to Prime Minister Shehbaz Sharif, OCAC President Ocac Adil Khattak underlined two pressing challenges facing the industry. The first issue concerns the removal of tax exemption on sales of oil products,

July 25, 2024

News Desk

The government will decide on the deregulation of petroleum products in a crucial meeting today

Listen to the article A meeting is to be held today regarding the possible delegation of the authority to set fuel prices to oil marketing companies (OMCs), sources in the petroleum ministry confirmed. Petroleum Minister Musadik Malik will chair the meeting, which will consider the devolution of power to set prices of petroleum products to OMCs, following a desk order issued by Prime Minister Shehbaz Sharif yesterday. In the ministerial order, the prime minister directed the Directorate of Petroleum to finalize and present the deregulation framework for the petroleum sector. Oil and Gas Regulatory Authority (OGRA) Chairman Masroor Khan is

March 22, 2024

News Desk

IMF wants 18% GST over PDL on petroleum products

The IMF logo can be seen in this photo. — Reuters IMF advises Pakistan to increase revenue generation. The Fund recently approved the SLA for a $3 billion final review. Pakistan will apply for a long, big IMF program. ISLAMABAD: The International Monetary Fund (IMF) has recommended that the same rate of Federal Excise Duty (FED) be applied to locally produced cigarettes irrespective of whether the manufacturer is local or foreign and that a petroleum development levy (PDL) be imposed on machinery inputs that they pollute the environment. The IMF also asked the Federal Board of Revenue (FBR) to gradually

November 12, 2023

News Desk

PSO is interested in the shares of OGDCL, Mari Petroleum

Islamabad: Pakistan State Oil (PSO), grappling with serious financial challenges, is exploring a strategic route to acquire stakes in state-owned oil and gas exploration and power companies. The move is aimed at addressing the pressing issue of the company’s mounting revolving debt, which threatens to push it into bankruptcy. The Economic Coordination Commission (ECC) recently approved government guarantees of Rs 100 billion to shore up PSO’s financial position, signaling the seriousness of the situation. The company is currently saddled with receivables in excess of Rs 700 billion, significantly hampering its ability to sustain operations. Sources revealed to The Express Tribune

October 30, 2023

News Desk

SIFC directs Petroleum Directorate to remove obstacles to investment in Qatar LNG terminal

Caretaker Prime Minister Anwaar-ul-Haq Kakar presides over a meeting of the SIFC at the Prime Minister’s House. — PID/File The PD demanded that all issues be resolved to pave the way for investment in Qatar. Investments have been pending for the past five years due to red tape. Secretary of the Petroleum Department personally trying to resolve all issues. Islamabad: The Special Investment Facilitation Council (SIFC) has directed the Petroleum Directorate to remove obstacles to Qatar’s $200 million investment in an LNG terminal, it said The news on Friday citing sources. “Energas plans to build the LNG terminal with Regas

April 15, 2023

The Pakistan Daily

Govt hikes petrol price by Rs10 per litre

ISLAMABAD: The federal government has increased the price of petrol by Rs10 and the price of kerosene oil by Rs5.78 “in the wake of increase in petroleum prices in the international market and exchange rate variations.” After this increase, the prices of petrol and kerosene oil have respectively risen to Rs282 per litre and Rs186.07 per litre. These fuels were earlier available at Rs272 and Rs180.29 per litre. According to a brief notification issued by the Finance Division in the wee hours of Sunday, the new prices will be effective from April 16 [today].

March 20, 2023

The Pakistan Daily

Govt to introduce fuel subsidy of Rs50 per liter for poor

With soaring inflation levels breaking the backs of the masses, the government has decided to introduce a petroleum package of up to Rs50 per liter for the low-income stratum of society. Chairing a meeting on a petroleum relief package in Lahore on Sunday, the prime minister has directed that up to Rs50 per liter be allocated for the petroleum subsidy. He also sought early completion of an implementation plan for the petroleum subsidy. Shehbaz says that despite severe economic challenges, he is trying to help the poor in every possible way. He directed for fast tracking the plan for the

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