
No regular member yet: Contract of Ogra Member (Finance) extended
ISLAMABAD: The Cabinet Division extended contract of Member Finance, Oil and Gas Regulatory Authority (Ogra) for one month as a regular member has yet to be appointed.
The Cabinet Division issued a notification on Tuesday.
The federal government has been repeatedly giving extension to Member Finance for one month to keep the four-member commission of the regulatory authority, operational.
But appointment of Member Gas has yet to be finalised. The position has been lying vacant for the last two years.
Similarly, OGRA Chairman Masroor Khan was given an extension for one year upon expiry of his contract in February 2025.
Copyright Business Recorder, 2025
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Express Tribune
11 hours ago
- Express Tribune
Govt scrambles for oil backup plans
Listen to article Amid escalating tensions between Iran and Israel, the Oil and Gas Regulatory Authority (Ogra) has warned oil marketing companies (OMCs) to maintain a minimum of 20 days of oil stock in accordance with licensing requirements. The prime minister has already constituted a high-level committee to explore alternative options in the wake of the Iran-Israel conflict to pre-empt any potential oil shortages in the country. Oil Marketing Companies are obligated to maintain 20-day oil reserves under their licensing terms. Ogra has previously issued directives to this effect and has now reiterated its warning, stating that companies failing to comply will face penalties and fines. In a statement, the Ogra spokesperson said, "The Oil and Gas Regulatory Authority (OGRA) has confirmed that the country currently holds sufficient stocks of petroleum products to meet existing demand". However, in light of future needs and the volatile market environment, Ogra has formally advised all OMCs to adhere strictly to the mandatory 20-day stock levels, as stipulated in their respective licences. "OGRA remains committed to monitoring the situation closely and will continue to take proactive steps to ensure national energy security," the spokesperson added. In response to the evolving geopolitical situation following Israel's recent attack on Iran and the resulting fluctuations in global oil markets, Prime Minister Shehbaz Sharif constituted a high-level committee to oversee petroleum pricing and supply dynamics. The committee is headed by the finance minister and includes senior representatives from key federal ministries, regulatory bodies and energy sector experts. It has already held its first meeting and is scheduled to reconvene early next week to assess possible supply routes and contingency measures. During its initial meeting, the committee explored alternative oil supply routes from Saudi Arabia and the United Arab Emirates (UAE), including pipeline transport, in case the Strait of Hormuz – a critical global oil supply route – is blocked due to escalating hostilities. The committee was informed that Saudi Arabia possesses an existing pipeline network, including the East-West Pipeline (Petroline), which transports crude from its eastern province to the Red Sea port of Yanbu. Similarly, the UAE's Abu Dhabi Crude Oil Pipeline (Adcop) to Fujairah is designed to bypass the Strait of Hormuz, ensuring uninterrupted exports. The Petroleum Division, in a submitted report, stated that the Strait of Hormuz handles 20% of global crude oil exports. Any closure of this route by Iran could severely impact global supply chains, including Pakistan's. Under a worst-case scenario, global oil prices could surge to $100$150 per barrel. While there is currently no immediate threat of a spike in prices, Pakistan is in discussions with international oil suppliers to ensure continuity of supply. At present, the country has access to up to one million tons of furnace oil storage capacity through abandoned power plants. Experts have recommended that the government utilise these facilities to store strategic oil reserves. It has also been proposed that the government purchase these storages, as the power sector plans to dispose of them as scrap.


Business Recorder
16 hours ago
- Business Recorder
‘Sudden ban on plastic bags to harm traders, industrialists'
HYDERABAD: A delegation of the Hyderabad Plastic Bags Association Market Road Hyderabad, led by Patron Yousuf Dada and President Nadeem Nizamani, met with Ahmed Idrees Chohan, Acting President of Hyderabad Chamber of Small Traders & Small Industry (HCSTSI). Delegation expressed strong concerns regarding the Sindh Government notification dated 30-04-2025, which imposes a blanket ban on all types, sizes and weights of non-degradable and oxo-degradable plastic carrier bags across the province effective from June 15, 2025. Delegation stated that while they fully support the government environmental protection initiatives and are willing to comply with the 2014 regulations, the sudden and unplanned enforcement of the ban without adequate preparation or consultation will prove devastating for small businesses, factory owners and thousands of labourers dependent on the industry. HCSTSI Acting President Idrees Chohan assured the delegation of Chamber's full support and noted that while the use of plastic bags is indeed harmful to the environment, the government must first establish a viable system for alternatives. He emphasized the need for awareness campaigns and capacity building programs to enable local industries to transition toward environmentally friendly products. An abrupt ban, he warned, would lead to increased unemployment, factory closures and inflation. The government's role should not be limited to imposing bans. It must also provide practical alternatives. HCSTSI demands that any such policy be implemented in phases, in consultation with the industry, and accompanied by public awareness efforts. Otherwise, instead of improving the environment, the move could result in serious economic consequences. The delegation concluded by affirming their commitment to supporting eco-friendly regulations, provided the government treats the trader and industrialist community with fairness and cooperation. On this occasion, Sikandar Ali Rajput, Kishor Kumar Bhatia, Abdullah Memon, Noman, Aqil Naeem, Saeed Gulshan, Jameel Naseer and Taimoor were also present. Copyright Business Recorder, 2025


Business Recorder
16 hours ago
- Business Recorder
CM to give cattle worth Rs2bn to rural women
LAHORE: Chief Minister Punjab Maryam Nawaz Sharif took another historic step for the financial empowerment and socio-economic development of women living in villages of southern Punjab, as she arranged a better source of employment for the poor and needy rural women. The CM said, 'Poor widows living in villages will get buffaloes and cows. About 11,000 rural women will be given buffaloes and cows with a budget of Rs 2 billion in 12 districts of southern Punjab. As many as 4870 cattle will be given in the first phase of Chief Minister Maryam Nawaz Sharif's unprecedented program.' She highlighted, 'CM Punjab Livestock Assets Program aims to increase milk production and provide employment to rural women at home. Under this program, rural women in Dera Ghazi Khan, Muzaffargarh, Rajanpur, Layyah and Kot Addu will get free cattle. In Multan, Khanewal, Lodhran, Vehari, Rahim Yar Khan and Bahawalpur too, rural women will get free cattle for a better livelihood.' The CM added, 'Divorced and widowed poor women up to the age of 55 can also apply through the app while sitting at home. Rural women can also contact 'Chief Minister Facilitation Desk' at the Animal Hospital to get free cattle.' Chief Minister said, 'Elimination of poverty gap between villages and cities is our resolve. Economic development is also the right of a daughter living in villages.' The CM emphasised, 'Equal economic opportunities are being provided in cities and villages. Whether a woman lives in a city or in a village, education, health and employment are her basic rights.' Copyright Business Recorder, 2025