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Nationwide gas tariff hikes planned

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The government is prepared to boost gas prices in Punjab and Khyber Pakhtunkhwa, following a plan already in place for Sindh and Balochistan. Sui Northern Gas Pipeline Limited (SNGPL) has formally sought the Oil and Gas Regulatory Authority (Ogra) for a substantial rise of up to 147%.

The company has formally requested a raise of Rs 2,646.18 per mmbtu and proposed a new average price of Rs 4446.89. The company argues that it has calculated a revenue deficit of Rs189.18 billion.

The Ogra will hold a public hearing over the matter on March 25 in Lahore and on March 27 in Peshawar.

Upon approval, the rise in gasoline prices will take effect on July 1.

In a similar vein, the Sui Southern Company has submitted a formal request to the Oil and Gas Regulatory Authority (Ogra) to increase the price of gas. This proposed increase is projected to impose a financial burden of Rs 79.63 billion on consumers.

Sui Southern has formally requested a price hike of Rs 324.3 per mmbtu. They are requesting the regulator to set a new average price of Rs 1740.80 per mmbtu.

The application has projected a total revenue deficit of Rs79.63 billion for the upcoming fiscal year, with Rs56.69 billion attributed to domestically generated gas and Rs22.93 billion to RLNG.

The Ogra will consider the application from Sui Southern today in Karachi and on March 20 in Quetta.

Following the hearings, a conclusive determination will be transmitted to the federal government. If Islamabad gives its approval, Ogra will release a notification to raise the gas rates.

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April FDI in Pakistan increased to $358.8 million, according to SBP

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The inflow for April was $358.8 million, up 177% from $132 million in April FY23. Still, that was 39% more than the $258 million from March.

China was the largest investor, with $439.3 million in FDI from the nation between July and April of FY24—the greatest amount—as opposed to $604 million during the same period of FY23. In April, China accounted for $177 million of the total investment.

With $51.93 and 51.89 million invested in Pakistan, the United Arab Emirates and Canada came in second and third, respectively.

The power industry was the main draw for foreign investors in FY24, which ran from July to April. This period’s FDI in the power industry was $637.5 million, compared to $776.2 million the previous year. From $338 million to $460 million this year, Hydel Power garnered more attention.

Continue reading: In FY23–24, Pakistan’s per capita income increased to $1680.

According to a separate data released on Wednesday, Pakistanis’ per capita income increased to $1680 in FY2023–2024.

The size of the national economy grew from $341 billion to $375 billion in the current fiscal year, according to figures made public by PBS.

Throughout this fiscal year, Pakistanis’ yearly per capita income increased by Rs 90,534; the monthly rise was Rs 7,544.

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OGRA forbids the purchase or sale of inferior LPG cylinders.

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The 313 LPG marketing and 19 cylinder-producing companies received notices from the OGRA, which described the act of refilling inferior LPGO cylinders as harmful.

Avoid supplying LPG to unlicensed distributors, the OGRA has cautioned LPG marketing companies. Only approved distributors will be able to sell and buy LPG going forward, per the notification, which states that new SOPs have been developed for the LPG industry.

Additionally, the warning said that the decision was made in an effort to preserve both lives and the business in response to an increase in cylinder blast occurrences.

Price reductions of Rs 20 per kilogramme for liquefied petroleum gas (LPG) were implemented in Quetta on May 3.

There is a reduction of Rs 20 on LPG prices, which means that the price per kilogramme drops from Rs 280 to Rs 260.

The costs of LPG were reduced by Rs 20 per kilogramme earlier, bringing the total decrease to Rs 40 per kilogramme over a few weeks. This is something worth noticing.

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PIA announces a significant student discount.

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According to an airline spokesman, the national flag carrier has recently raised the baggage allowance to 60 kg.

Currently, PIA flies one flight per week on Sundays between Islamabad and Beijing.

The discount may be useful to students who intend to spend their summer vacations in Pakistan or who wish to return home after earning their degrees.

Before, students who wanted to visit China could now receive a 27% reduction on their fares through PIA.

On Eid ul Fitr, the national flag airline also reduced the cost of domestic flights by 20% for both economy and executive economy classes.

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