Latest news with #Rs1.35
Business Recorder
5 days ago
- Business
- Business Recorder
Ministry seeks ECC nod for new OMCs, dealers' digitisation
KARACHI: The Petroleum ministry is set to send a summary to the Economic Coordination Committee (ECC), in near future, for imposition of additional fees for oil marketing companies (OMCs) and dealers to digitize supply chain and petrol pumps in a bid to curb fuel smuggling. While talking to the media during his visit to the Sui Southern Gas Company Limited (SSGC) on Friday, Federal Minister for Petroleum Ali Pervaiz Malik said that the additional fee will be added to the price of petroleum products. However, he claimed that the imposition of fees would not lead to an increase in fuel prices. He mentioned plans to digitize the petrol pumps and supply chain system within the next 6-12 months. Minister said that the cost will be utilized to digitize vehicles transporting oil to pumps and petrol pumps to detect and discard smuggled diesel and other petroleum products. The digitization plan involves using radar-based technology, digital nozzles, and installation of CCTV cameras to monitor the supply chain. For this, the ministry will send a summary to the Economic Coordination Committee (ECC) within two months, seeking approval for the additional fee, which is expected to be around Rs1.35 per liter for OMCs and Rs1.40 per liter for dealers. The minister elaborated that the government has already registered all petroleum products nationwide in phase-I and plans to fully digitize trucks transporting petroleum products over the next two to three months. The nozzles will also be fully digitized in the next few months. The minister highlighted the importance of ensuring a consistent supply chain of energy products, making them competitive in the international market, and ensuring sustainability. He also mentioned the upgrading of the oil refineries to produce clean energy for a better environment. Malik further informed that the government is working to curb smuggled diesel with the help of border law enforcement forces and restructure the Oil and Gas Regulatory Authority (OGRA) as well. Federal Minister for Energy Pervaiz Malik has expressed optimism about the country's economy, citing signs of early recovery in the form of lower inflation, reduced electricity tariffs, and decreased petroleum and diesel prices. In a press briefing at SSGC head office on Friday, Malik also acknowledged that the government still faces significant challenges, particularly in the energy sector. 'Accumulation of circular debt and stopping losses in the gas sector are complex issues that require immediate attention,' he said. Despite these challenges, Malik expressed confidence that the government is making progress. 'We want to put Pakistan on a sustainable, inclusive, developed, and climate-friendly journey, and for this, the energy sector is being organized,' he said. However, Malik expressed concern over power producers not honoring their commitments to lift imported gas (RLNG) for electricity generation, which is contributing to the circular debt. The ministry might consider acquiring bank loans to reduce the circular debt, he added. The minister emphasized that the government is committed to providing relief to the public and ensuring the country's economic progress. Copyright Business Recorder, 2025
Express Tribune
5 days ago
- Business
- Express Tribune
Electricity focus hurts balance
Listen to article Federal Minister for Petroleum Ali Pervaiz Malik has stated that the overemphasis on the power sector in recent years has undermined other vital components of Pakistan's energy landscape, particularly the gas and petroleum sectors. During a visit to the Sui Southern Gas Company (SSGC) head office in Karachi, Malik remarked that while electricity remains a critical component of national energy planning, the persistent neglect of the petroleum and gas sectors is aggravating existing problems, most notably the growing circular debt. He revealed that power generation companies had committed to purchasing six LNG cargoes but are now failing to honour those agreements, leaving around 600 million cubic feet per day (mmcfd) of imported RLNG unused. This failure, he cautioned, is leading to an accumulation of receivables at Pakistan State Oil (PSO) and contributing to a rise in circular debtcontrary to International Monetary Fund (IMF) directives aimed at reducing it. Malik disclosed that the government is considering borrowing from banks to cover gas-sector dues, following a financing model already used in the power sector. He also raised the alarm over rampant diesel smuggling, calling it a "cancer" within the petroleum industry. To counter this, the ministry has launched a wide-ranging digitisation initiative. All trucks transporting petroleum products will be brought under a digital monitoring system, and every unloading point will be officially recorded. The digitisation drive will also cover petrol pumps across the country, where manual nozzlesfrequently used for fuel theft or the sale of smuggled fuelwill be replaced with digital meters linked directly to the Federal Board of Revenue (FBR). To finance this upgrade, the petroleum ministry is preparing a proposal for the Economic Coordination Committee (ECC) to approve an additional fee on petroleum products. Though Malik did not specify the fee amount, sources suggest it may be Rs1.35 per litre for oil marketing companies and Rs1.40 for dealers. On the issue of new residential gas connections, Malik said a final decision would be made after consultation with Prime Minister Shehbaz Sharif. He noted that the gas pipeline infrastructureparticularly in Karachiis outdated, with some pipelines over 40 years old. SSGC's network alone spans 55,000 kilometres, underscoring the magnitude of the challenge. Malik also discussed plans to improve energy trade with the United States by exploring petroleum imports. A special committee under the finance minister is reviewing the proposal. He concluded his Karachi visit with a tour of Pak-Arab Refinery Limited (PARCO), where he was received by Managing Director Irteza Ali Qureshi and senior company officials.
Business Recorder
6 days ago
- Business
- Business Recorder
Smuggling control: Pakistan govt may approve fees to digitise fuel supply, petrol pumps
Pakistan government is likely to approve additional fees for oil marketing companies (OMCs) and dealers to digitise supply chain and petrol pumps in a bid to curb fuel smuggling, Business Recorder learnt on Friday. The additional fee 'will be added to it (petroleum products) in the form of every litre,' said Federal Minister for Petroleum Ali Pervaiz Malik on Friday while talking to the media during his visit to the Sui Southern Gas Company Limited (SSGC). As per details, the digitisation would use radar based technology and digital nozzles, and installation of CCTV cameras to run and monitor the supply chain. Fuelling around: OMCs' rollercoaster ride in FY24 Malik did not disclose the amount of the additional fee. The background information, however, suggests it may be Rs1.35/litre for OMCs and Rs1.40/litre for dealers (petrol pumps). The Petroleum ministry is set to send a summary to the Economic Coordination Committee (ECC) in this regard within two months. The minister stated that his ministry had previously submitted a summary, which contained some issues. The issues were being addressed, he added. 'The cost will be utilised to digitise vehicles transporting oil to pumps and digitise petrol pumps as well to detect and discard the smuggled-in diesel and other petroleum products,' he said. The minister elaborated that they had registered all the petroleum products nationwide in phase-I. In the phase-II, lorries and trucks - which transport petroleum products from oil depot to petrol pumps - would be fully digitised over the next two to three-months from 85% at present. In another two months, the nozzles would be fully digitised using 70% at present, he explained. FBR tells ministry: 2.5% advance tax not applicable to OMCs' outlets 'The petrol pumps and supply chain system of the products would get fully digitised within six to 12-month from the time we provide OMCs the required investment and make arrangements for payments and paybacks,' Malik said. The minister regretted the power producers were not 'honouring their commitment to lift the imported gas (RLNG) for electricity generation', which is apparently causing surge in receivables of the Pakistan State oil (PSO) and filing up circular debt in the gas sector in contradiction to the International Monetary Fund (IMF) recommendation to free the debt and reduce it to zero in the time to come. The ministry might opt to acquire bank loan to reduce the circular debt like power sector was doing, the minister said.
Time of India
09-05-2025
- Automotive
- Time of India
Patna leads in spending for ‘lucky' vehicle numbers
Patna: People in Bihar have developed a penchant for getting fancy registration numbers and they are ready to pay extra money for to data received from the state transport department, a total of 14,721 vehicle owners paid Rs 23.91 crore in the last financial year (2024-25), to get the fancy number of their choice, with Patna remaining at the top of this exercise while Sheohar showing least interest. As per the data, a total of 5,709 people from Patna district acquired the fancy numbers in the last financial year after paying over Rs 9.47 crore, while Sheohar spent only Rs 2.50 lakh, with just 10 people expressing interest in minister Sheela Kumari said the department is attention to the people's choice for fancy registration numbers. "This facility was not available earlier, but now the people can get the desired numbers for their vehicles after paying the specified fees," she said on Friday. She said some people choose fancy numbers based on their lucky numbers. "The very inclination for such fancy numbers has not only brought joy to vehicle owners but also increased the govt revenue," she report further said Muzaffarpur ranks second, while Gaya comes third in the matter of obtaining fancy number plates. In Muzaffarpur, 1,230 vehicle owners spent approximately Rs 1.88 crore, while in Gaya, 921 people spent Rs1.35 crore to have such numbers. Purnia, with 627 vehicle owners spending Rs 1.15 crore for such attractive number plates, falls in the fourth position, as per the state transport districts like Sheohar and Arwal have not shown much interest in these numbers, with only 10 and 12 people respectively opting for fancy numbers. What remained the most sought-after numbers among the vehicle owners were 0001, 0003, 0005, 0007, and 0009, reports said.A transport department official said the vehicle owners must pay a special fee for selected numbers, categorised into five groups (A, B, C, D, and E), each with a specific fee. Group A's reserved numbers like 0001, 0003, 0005, 0007, and 0009 cost Rs 1 lakh for "non-transport vehicles" and Rs 35,000 for "transport vehicles". An e-auction system is also available for this purpose, the official official added that if more than one person desires a single-digit number plate, a bidding process is conducted, and the highest bidder receives the desired number. Alternatively, fancy numbers in the current series are allocated on a 'first-come, first-served' basis upon payment of the designated fee online, he said.
1732521719-0%2FExpress-Tribune-(1)1732521719-0.jpg&w=3840&q=100)
Express Tribune
19-03-2025
- Politics
- Express Tribune
Government reveals cost of managing protests in Islamabad over the last five years
Supporters and activists of former prime minister Imran Khan´s PTI take part in a protest in Islamabad on October 5, 2024. — AFP Listen to article The federal government has submitted figures in the National Assembly detailing the amount spent to manage protests in the federal capital, with over Rs1.35 billion incurred on these expenses over the past five years. In a written response to the National Assembly, Federal Interior Minister Mohsin Naqvi outlined the costs associated with handling protests. The total expenditure during the last five years exceeded Rs1.35 billion. In the fiscal year 2020-2021, the government spent more than Rs96 million on protest management. The following year, in 2021-2022, costs surged to Rs 277.9 million, while in 2022-2023, the government allocated Rs 724 million for protest management in Islamabad. For the year 2023-2024, the expenditure was recorded at Rs 100 million.
