AIRLINK 173.15 Increased By ▲ 15.74 (10%)
BOP 10.65 Increased By ▲ 0.28 (2.7%)
CNERGY 8.52 Increased By ▲ 0.20 (2.4%)
CPHL 97.46 Increased By ▲ 4.57 (4.92%)
FCCL 47.25 Increased By ▲ 0.52 (1.11%)
FFL 15.42 Increased By ▲ 0.54 (3.63%)
FLYNG 28.13 Increased By ▲ 1.15 (4.26%)
HUBC 138.91 Increased By ▲ 4.90 (3.66%)
HUMNL 12.81 Increased By ▲ 0.29 (2.32%)
KEL 4.54 Increased By ▲ 0.33 (7.84%)
KOSM 5.55 Increased By ▲ 0.16 (2.97%)
MLCF 62.26 Increased By ▲ 1.38 (2.27%)
OGDC 214.75 Increased By ▲ 6.23 (2.99%)
PACE 5.55 Increased By ▲ 0.15 (2.78%)
PAEL 44.86 Increased By ▲ 4.08 (10%)
PIAHCLA 18.70 Decreased By ▼ -0.10 (-0.53%)
PIBTL 10.74 Increased By ▲ 0.76 (7.62%)
POWER 12.26 Increased By ▲ 0.30 (2.51%)
PPL 173.87 Increased By ▲ 5.10 (3.02%)
PRL 36.22 Increased By ▲ 1.19 (3.4%)
PTC 23.56 Increased By ▲ 0.57 (2.48%)
SEARL 95.31 Increased By ▲ 2.21 (2.37%)
SSGC 39.13 Increased By ▲ 3.56 (10.01%)
SYM 14.02 Increased By ▲ 0.36 (2.64%)
TELE 7.23 Increased By ▲ 0.28 (4.03%)
TPLP 10.29 Increased By ▲ 0.29 (2.9%)
TRG 64.68 Increased By ▲ 4.01 (6.61%)
WAVESAPP 10.04 Increased By ▲ 0.34 (3.51%)
WTL 1.33 Increased By ▲ 0.03 (2.31%)
YOUW 3.70 Increased By ▲ 0.05 (1.37%)
BR100 12,492 Increased By 252.4 (2.06%)
BR30 37,694 Increased By 1300.9 (3.57%)
KSE100 116,189 Increased By 2036.1 (1.78%)
KSE30 35,750 Increased By 549.8 (1.56%)

ISLAMABAD: Federal Minister for Petroleum Dr Musadik Malik, while talking to media persons, stated that the matters with Saudi Arabia are moving forward positively and will be finalised soon.

He clarified the media reports that the federal cabinet has accorded approval to the sale of a 15 per cent stake in the Reko Diq are not true.

A price negotiation committee is handling the matters to ensure negotiations proceed in a timely fashion to seal the deal soon. However, it has not been finalised yet.

Weir Group secures £53mn order for Reko Diq copper-gold project in Pakistan

He said that circular debt of gas sector was around Rs2.7 trillion including late payment surcharge (LPS). To retain at the current level, the minister said that government would not continue to follow the law passed by the caretaker government to include imported RLNG’s cost of supply into biannual estimated revenue requirements (ERR) of both gas companies – the Sui Southern Gas Company (SSGC) and the Sui Northern Gas Pipeline Limited (SNGPL).

He said that government was also exploring alternate ways to adjust the surplus expensive RLNG other than a uniform gas tariff.

“The government has already deferred five RLNG cargos from Qatar for 2025 and negotiation is ongoing on other five cargoes in the following year”, he said.

He said that government has been negotiating with the IMF on the condition of the curtailing of gas to captive power plants (CCPs) by end of January 2025.

“The Fund is yet to agree on the government’s stance”, the minister said.

He said that government had already raised the gas tariff for CCPs for power generation and price equivalent to such plants which are on grid.

Regarding Iran-Pakistan Gas Pipeline, he said the government was pursuing the US administration for a waiver against its sanction.

Copyright Business Recorder, 2024

Comments

Comments are closed.

Public Citizen Jan 01, 2025 02:57pm
Let me predict that this project like countless others will be of absolutely no benefit to the people, rather destroy the environment and leave the people worse off and exploited. Screen shot this.
thumb_up Recommended (0)