Petroleum Division amends LPG policy draft
Favours importer by waiving regulatory duty, advance tax on imports via sea
At present, the LPG importers are paying 5.5% withholding tax on import. PHOTO: FILE
ISLAMABAD:
After the oil scam, another scam could emerge as the Petroleum Division has amended the draft of LPG Policy 2021 that appears to favour an influential LPG importer by waiving regulatory duty and advance tax on imports via sea.
According to the amended draft, a copy of which is available with The Express Tribune, the Petroleum Division has introduced measures to strengthen the monopoly of one key LPG importer at the cost of local gas and imports through land route.
CCOP shelves plan to sell 10 power distribution firms
Also cancels divestment of PPL and OGDCL shares
ISLAMABAD:
A cabinet body on Friday approved the shelving of a plan of all-out sale of 10 power distribution companies and also cancelled two capital market transactions of blue-chip companies, marking a third major shift in privatisation policy of the government.
Headed by Finance Minister Shaukat Tarin, the Cabinet Committee on Privatisation (CCOP) approved two separate summaries to give effect to these decisions.
The CCOP agreed to drop the plan of divestment of shares in Pakistan Petroleum Limited (PPL) and Oil and Gas Development Company Limited (OGDCL) due to their depressed stock prices.
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