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Pakistan’s gas industry is in debt by Rs. 2,897 billion.

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In Pakistan’s gas industry, the circular debt has reached Rs2,897 billion, official papers show, despite recent rises in gas prices. Surcharges for late payments totaling Rs. 814 billion are included in this loan.

Important debt numbers for large corporations in the industry are provided in the documents. Rs 1,133 billion in circular debt is owed by the Oil and Gas Development Company Limited (OGDCL). Circular debt of more than Rs800 billion is owed by Pakistan Petroleum Limited (PPL). With a total of Rs816 billion in circular debt, Pakistan State Oil (PSO) too possesses a significant amount.

More than Rs515 billion is owed to PSO by the Sui Northern Gas Pipelines Limited (SNGPL). More than Rs152 billion worth of oil has also been borrowed by the Central Power Purchasing Agency (CPPA) generation companies.

To further complicate the web of debt, the PSO itself owes different refineries Rs251 billion.

Gas theft continues to be a major national issue in addition to these financial difficulties.

The amount of money stolen in gas, according to Ministry of Petroleum officials, has surpassed Rs 50 billion. Gas theft is most common in Balochistan, where it costs the state Rs25 billion a year. A total of Rs19 billion is stolen in gas each year in Sindh. A total of Rs16 billion is stolen of gas each year in Punjab and Khyber Pakhtunkhwa.

The significant obstacles Pakistan’s gas industry faces are exemplified by the rising circular debt and epidemic gas theft. For the industry to stabilize and for there to be a consistent supply of energy going forward, these problems must be solved.

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Islamic Sukuk Bonds: Government Is Expected To Begin Bond Auction Next Week

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There is now more positive economic news for the people of Pakistan. The government is anticipated to begin the Sukuk Islamic Bond auction next week, after the central bank’s announcement of a large drop in the policy rate.

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SIFC Encourages Green Tourism: Reforming Visas to Increase Investment

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Enhancing investment in the tourism sector, Green Tourism Pakistan’s initiative has received backing from the Special Investment Facilitation Council.

Visa-On-Arrival for 126 countries, Visa-Free Entry for Gulf Cooperation Council nations, and 24-hour expedited visa processing are some of the main features of the Green Tourism Visa Policy.

It is anticipated that these endeavors will draw in about 80 million dollars in foreign direct investment and 8.3 billion rupees in domestic investment.

Green Tourism Private Limited has introduced hunting resorts in Naltar, Hunza, and Skardu, along with four- and five-star city hotels, to improve the tourism experience.

In the first phase of the project, 17 of the 78 areas have seen the start of development activity.

Approved is a central authority for Green Tourism that will supervise the growth of Air Operations.

To promote Religious Tourism, extra precautions have been taken to guarantee the security of visitors from all religions, including Sikhs and Buddhists.

Furthermore, in order to improve the quality of the tourist experience, the green guide quality program has been introduced to supply top-notch tour guides.

There is now a deluxe bus excursion from Islamabad to Peshawar that promotes local culture.

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July 2024 export data from Pakistan shows a significant rise.

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The Strategic Investment Facilitation Council (SIFC) has been instrumental in improving Pakistani products’ access to international markets, as seen by the significant surge in exports from the country at the start of the 2024–25 fiscal year.

With a 7.26% rise over the same month the previous year, July 2024 exports to the US were $476.017 million. After increasing by 7.74% annually, the United Arab Emirates emerged as the second-largest export destination.

The third and fourth places were occupied by exports to the UK ($183.303 million) and China ($60.100 million). A substantial increase in exports to Afghanistan was recorded in July of this year, rising from $46.262 million to $88.065 million, largely due to successful anti-smuggling efforts.

With a combined export volume of $553.951 million, more important export destinations included Germany, the Netherlands, Italy, Spain, Saudi Arabia, and Turkey.

A bright future for the national economy is suggested by the growing confidence major international markets have in Pakistani exports. Through the efforts of SIFC and the government, this greater access to global markets has been made possible.

Pakistan’s economy is predicted to remain stable as a result of the export growth that SIFC has enabled.

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