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      Brazilian man faking his death just to know who would attend funeral

      Brazilian man faking his death just to know who would attend funeral

      Iran: One killed in attack on embassy of Azerbaijan

      Iran: One killed in attack on embassy of Azerbaijan

      Virginia teacher shot by a Six-year-old student

      Virginia teacher shot by a Six-year-old student

      US sees Pak, India as equal partners, Ned Price

      No objection to Pakistan importing Russian oil, US

      Asian farm worker arrested in shooting in California killing 11 people

      Asian farm worker arrested in shooting in California killing 11 people

      Israeli civilian shot dead Palestinian man in West Bank

      Israeli civilian shot dead Palestinian man in West Bank

      Ukraine urges West to speed up supply of weapons

      Ukraine urges West to speed up supply of weapons

      Nepal mourns on deadliest plane crash

      Nepal mourns on deadliest plane crash

      Results of midterm elections good for democracy, Biden

      Republicans want data of visitors logs of Biden’s home

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      NEPRA reduces electricity tariff by Rs10.80 per unit

      NEPRA reduces electricity tariff by Rs10.80 per unit

      IMF postpones talks with Pakistan seeking details of flood relief expenditure

      IMF to land Pakistan tonight for 9th economic review

      Gold prices soar up at all time highest level

      After dollar gold price creates panic as it crosses Rs200,000 per tola

      Recovery rupee continues against US dollar

      Dollar continuously spreads pain, jumping nearly Rs20.10 in a day

      Asian markets fluctuate as traders return from Lunar New Year break

      Asian markets fluctuate as traders return from Lunar New Year break

      Petroleum ministry devises a new policy to bring down fuel prices by Rs20

      OGRA refutes rumors of fuel shortage in country

      Some google apps likely face trouble in Pakistan

      Google announces about 12,000 job cuts globally

      FIA arrests gang impersonating bank representatives

      FIA arrests gang impersonating bank representatives

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      Visa appoints new Manager for Pakistan to boost e-commerce industry

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      Priyanka Chopra reveals her daughter Malti Marie Chopra

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      Paris Hilton gives birth to her first child

      Daler Mehndi comes under fire for expressing gratitude to Prince Harry

      Daler Mehndi comes under fire for expressing gratitude to Prince Harry

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      Showbiz celebrities condemn bullying incident in Lahore’s elite school

      Esha soon making comeback with “Main”

      Esha soon making comeback with “Main”

      Meesha Shafi’s Mustache set to premiere at prestigious SXSW

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      Low gas prices put burden on national exchanger, Musadik Malik

      Low gas prices put burden on national exchanger, Musadik Malik

      Web Desk by Web Desk
      in BUSINESS, FINANCE
      Reading Time: 2 mins read
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      Minister of State for Petroleum Musadik Masood Malik on Tuesday highlighted the financial burden that not increasing the price of gas is putting on the national treasury.

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      Speaking in the Senate session during question hour, Malik stated that the gas royalty and surcharge were currently being given based on a pre-determined formula.

      He also shared that the country currently produces 3200 million cubic feet per day (mmcfd) of gas but only 1600 mmcfd of that adds to the system.

      This statement by the minister underscored the financial challenges facing the country and the need for a review of the pricing of gas.

      He said that currently, the government has imposed a ban on expansion in the domestic network due to the shortage of gas.

      Further, he said that this ban was imposed by the previous government and added it even changed the OGRA rules. He said that as per the rules, gas was provided to those provinces where it is being produced.

      It is in the “deep interest of the country” to continue the ban on gas connections till the end of its shortage, he added.

      He added that the same shall be reviewed upon improvement in gas supplies and removal of pricing distortion.

      The minister said that new policies regarding gas production would be brought in the next two weeks, adding, the results of these policies could be seen in the next four years.

      Replying to a question, he said that the total indigenous production of natural gas and volume with a percentage share of Khyber Pakhtunkhwa during the last three years was 11.09 MMCF in 2019-20, 12.27 mmcfd in 2020-21 and 12.00 mmcfd in 2021-22.

      Tags: gas pricesMusadik Malik

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      Voice of Sindh is an initiative designed to uncover the untold stories of Sindh. It aims to preserve and promote the diverse culture, heritage, history, and traditions that make Sindh the bastion of pluralism and progress.

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