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Russia Concerned With Pakistan Considering Other Options For Joint Gas Pipeline Project

Russia Concerned With Pakistan Considering Other Options For Joint Gas Pipeline Project
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Gas shortfall expected to reach 4 2bcfd in 10 years

July 15, 2021 ISLAMABAD: Gap in demand and supply of gas is expected to reach 4.2 billion cubic feet per day (bcfd) by FY2030-31 from 1.3 bcfd, in the fiscal year of 2019/20, Oil and Gas Regulatory Authority (Ogra) said. The indigenous gas production fell 10 percent to 2,138 million cubic feet per day (mmcfd)) in last fiscal year from 2,379 mmcfd a year earlier and gas consumption declined 6 percent to 3,714 mmcfd from 3,969 mmcfd during the corresponding period. In a report on ‘state of the regulated petroleum industry 2019-20’ on Wednesday, Ogra said the deficit between production and consumption was partially met through import of liquefied natural gas whose share in natural gas supplies increased from 27 percent to 29 percent during the year.

Ice units not liable to be registered can t be taxed: LHC - Pakistan

In his verdict, Justice Sheikh observes that the petitioners are engaged in making of exempt supplies of ice and there is no provision of the Sales Tax Act that requires them to be registered. Wikimedia Commons/File LAHORE: The Lahore High Court (LHC) has ruled that a person producing “exempt supplies” and not liable to be registered under the Sales Tax Act 1990 cannot be burdened with payment of “further tax” and “extra tax” for non-registration. Justice Raheel Kamran Sheikh ruled this on petitions filed by several ice factories challenging the recovery of the taxes in the utility bills of the Lahore Electric Supply Company (Lesco) and the Sui Northern Gas Pipelines Limited (SNGPL).

SNGPL profit declines 15 percent in FY20

SNGPL profit declines 15 percent in FY20 July 6, 2021 LAHORE: Sui Northern Gas Pipelines Limited (SNGPL) net profit declined 15 percent to Rs5.998 billion, translating into earnings per share (EPS) of Rs9.46 for the financial year ended June 30, 2020, a bourse filing showed on Monday. The company posted a profit of Rs7.075 billion with EPS of Rs11.16 during the financial year ended June 30, 2019. SNGPL declared a final cash dividend of 40 percent of Rs4/share for the year ended June 30, 2020. The company’s gas sales declined 9.6 percent to Rs618.528 billion during the year under review, from Rs684.626 billion in the last fiscal. However, with tariff adjustment of Rs126.027 billion during the year ended June 30, 2020 compared to Rs97.274 billion during last fiscal, revenue clocked in at Rs744.555 billion, sliding down 4.8 percent compared to last year.

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