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Domestic consumers to receive gas eight hours a day in winter

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  • Gas will be provided 3 hours in morning, 2 at noon, 3 at night. 
  • PM desired domestic consumers should be kept on top priority.
  • Commercial consumers to be provided RLNG in Punjab: official. 

ISLAMABAD: The government has decided to adjust the gas load management plan under which domestic consumers will receive gas for eight hours a day for cooking times in winter, The News reported Friday. 

The consumers will be provided gas in the morning from 6am to 9am, two hours from 12 noon to 2pm for lunch and three hours from 6pm to 9pm for dinner.

“More importantly, commercial consumers will be provided RLNG in Punjab except for roti tandoors, which will be provided system gas (local gas),” one of the top officials of the Energy Ministry told The News.

“The CNG, fertiliser, cement and non-export industry will be having zero gas supply,” said the official. “If the winter season peaks from December 15 to January 31, the gas supply may be cut off to captive power plants of the export industry and for the power sector, the existing gas supply of 200 mmcfd may be halved.”

He said the gas deficit in the country for the winter season 2022-23 has been worked out at 1.35 bcfd (billion cubic feet gas per day). “It has been worked out that the gas deficit would stay at 900-1,000 mmcfd in the SNGPL system that covers Punjab and KPK. 

The gas availability in the SNGPL system would remain in the range of 1,520 mmcfd (770 mmcfd of local gas plus 750 mmcfd of RLNG) against the demand of 2,100-2,500 mmcfd. The gas consumers in SNGPL stand at 7.5 million (6.5 million in Punjab and 1 million in KPK).”

Likewise, the gas availability in the Sui Southern (SSGCL) system would be in the range of 925-1,000 mmcfd against the demand of 1,250-1,500 mmcfd. The gas deficit in the SSGC system has been estimated in the range of 250-350 mmcfd. 

The gas supply to the CNG, fertiliser, cement, and non-export industries will be zero.

The Petroleum Division has also sought the amount of Rs105 billion for injecting the costly RLNG into the domestic sector for the winter season 2022-23. 

Prime Minister Shehbaz Sharif has desired that domestic consumers should be kept on top priority and should be provided gas with pressure. And this is only possible if RLNG is diverted to domestic consumers of Punjab and KPK.

Interestingly, the cost of RLNG, which was earlier diverted to domestic consumers in the last four winters, has not been recovered. The cost of RLNG that has so far been injected into the domestic sector stands at Rs108 billion and this amount has not been recovered. The country’s gas sector is already soaked in circular debt of Rs1,500 billion. The Petroleum Division would put up this case before the premier for approval of Rs105 billion to ensure the diversion of RLNG so that gas to domestic consumers could be provided for cooking times at required pressure.

“Currently, the sale price of natural gas stands at Rs400 per MMBTU whereas the RLNG cost is at $13 per MMBTU (Rs3,100). The Petroleum Division wants the differential to be paid by consumers through the revenue requirements of gas utilities.”

Under the amended act, RLNG is no longer called a petroleum product but has been renamed as a gas of which the cost can now be recovered from domestic consumers through revenue requirement petitions of Sui Southern and Sui Northern.

The gas supply to captive power plants of export sectors would also be shut down if winter turns more severe. Right now, the captive power plants are being provided 50%  gas supply. However, for processing in the textile sector, the gas of 40-42 mmcfd would continue. 

The government is extending electricity at the rate of Rs19.99 per unit, which is why it would halt the gas supply to captive power plants. Right now the power sector is currently being provided 165-200 mmcfd of gas, which would be halved during the peak winter.

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Tourism boom: During Eidul Azha, more than 400,000 people travel to KP

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Over 400,000 people travelled to several beautiful locations in Khyber Pakhtunkhwa between June 17 and June 19, celebrating the recently ended Eidul Azha festivities.

With over 174,000 visitors in one day, Naran Kaghan emerged as the most popular location. Visitors looking for a getaway from the city are still drawn to Naran Kaghan’s calm scenery and charming valleys.

A total of 162,000 visitors to Galiyat took in the city’s rich history at its cultural institutions and historical landmarks. In addition, more than 46,000 people visited Malam Jabba in Swat, and 23,000 people visited Upper Dir to take in its stunning surroundings.

Khyber Pakhtunkhwa is becoming a popular domestic vacation destination due to its unique combination of natural beauty, cultural legacy, and adventure options, as seen by the rise in visitor numbers.

Businesses and local government agencies have been collaborating to make sure tourists have an unforgettable time while appropriately handling the inflow.

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Pakistan currently has $14.41 billion in foreign exchange reserves.

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In a statement, the central bank stated that as of June 14, 2024, Pakistan’s foreign exchange reserves held by the State Bank of Pakistan (SBP) stood at $9.135 billion, following the increase.

The announcement also stated, “SBP reserves increased by US$ 31 million to US$ 9,134.7 million during the week ended on June 14, 2024.”

The State Bank of Pakistan (SBP) stated that the nation had $14.415 billion in total liquid foreign reserves. Commercial banks own $5.28 billion of the total in net foreign reserves.

It was announced earlier on June 13 that Pakistan’s foreign exchange reserves reached US$14.38 billion, up US$168 million in the first week of June.

Pakistan’s reserves held by commercial banks rose by US$174 million to $5.28 billion for the week that ended on June 7, according to a statement released by the central bank.

The SBP now has US$9.10 billion in reserves, down US$6.2 million from before. The central bank did not provide an explanation for why its reserves fell.

“SBP reserves decreased by US$ 6 million to US$ 9,103.3 million during the week ended on July 7, 2024,” the SBP said in a statement.

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In a first for history, PSX crosses the 77,000 milestone.

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At 77,213.31, the benchmark KSE-100 hit an all-time high, up 1,005.15, or 1.32%, from the previous close of 76,208.16.

The government’s readiness to seal an agreement with the International Monetary Fund (IMF) following the budget was cited by analysts as the reason for the upward trend.

Experts anticipate that in an attempt to bolster its position for a fresh bailout agreement with the International Monetary Fund (IMF), the budget for the fiscal year ending in June 2025 would set aggressive fiscal goals.

Budget for Pakistan, 2024–2025
Pakistan’s budget for the fiscal year 2024–25, with a total expenditure of Rs18.877 trillion, was presented on Wednesday by Minister of Finance and Revenue Muhammad Aurangzeb.

The Finance Minister, Muhammad Aurangzeb, outlined the budget highlights. He stated that the GDP growth target for the fiscal year 2024–25 is set at 3.6 percent, while the inflation rate is anticipated to stay at 12 percent.

He stated that while the primary surplus is anticipated to be 1.0 percent of GDP during the review period, the budget deficit to GDP is forecast to be 6.9 percent over the period under review.

According to the minister, tax income collection increased by 38% in the current fiscal year, and the province will receive Rs7,438 billion. The Federal Board of income expects to earn Rs12,970 billion in revenue for the upcoming fiscal year.

In contrast to the federal government’s projected net income of Rs9,119 billion, he stated that the federation’s non-tax revenue projections are set at Rs3,587 billion.

The federal government’s total outlays are projected to be Rs18,877 billion, with interest payments accounting for the remaining Rs9,775 billion.

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