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Surge in LPG import causes huge financial drain of state firms

Surge in LPG import causes huge financial drain of state firms
National
May 3, 2021
ISLAMABAD: The unprecedented increase in inflow of subsidized imported LPG through the port and Taftan border has inflicted huge losses to the national exchequer as the state-owned LPG producing companies are compelled to sell their produce at prices lower than those notified by OGRA to remain competitive.
This unfolded in two letters that OGRA wrote in a row to secretary petroleum Mian Asad Hayaud Din. The letters of January 29, 2021 and April 30, 2021 highlighted the disparity between LPG importers and local producers mentioning that the reduction of Petroleum Development Levy (PDL) and GST on the imported LPG has resulted into massive inflow of poor quality imported LPG through the port and Taftan border. ....

Mian Asad Hayaud , Shahid Salim Khan , Petroleum Division , Petroleum Development Levy , Salim Khan , Distribution Policy , ஷாஹித் சலீம் காந் , பெட்ரோலியம் பிரிவு , பெட்ரோலியம் வளர்ச்சி வசூல் செய்தல் , சலீம் காந் , விநியோகம் பாலிஸீ ,

Welcome To IANS Live - BUSINESS - Govt. gives ad hoc IGST exemption on imports of Covid relief material

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IANSLive
New Delhi, May 3 (IANS) In view of the coronavirus pandemic, the Central Government has exempted IGST or integrated GST on import of such goods received free of cost for free distribution of Covid relief.
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Update: 03-May-2021 ....

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Mexico Ruling on U.S. Potatoes Pt 2 - AG INFORMATION NETWORK OF THE WEST

Mexico Ruling on U.S. Potatoes Pt 2
Monday May 3rd, 2021
I’m Bob Larson. Fresh U.S. potatoes could soon be headed to Mexico. This after Mexico’s Supreme Court’s ruling last week that gives its government the authority to allow the import of U.S. spuds, following obligations under the USMCA.
National Potato Council CEO, Kam Quarles says Mexico’s grower groups have pushed hard against U.S. potatoes …
QUARLES … “Countries can’t say, we’re going to shut of trade when competition gets too inconvenient. The point is that you want to provide consumers with a choice. You want to have that healthy competition in a variety of different goods.” ....

Kam Quarles , Bob Larson , National Potato Council , Mexico Supreme Court , Mexico Ruling , Supreme Court , Decades Long , கம் சண்டைகள் , பாப் லார்சன் , தேசிய பொட்யாடோ சபை , மெக்ஸிகோ உச்ச நீதிமன்றம் , உச்ச நீதிமன்றம் ,

Welcome To IANS Live - BUSINESS - CBIC sets up dedicated help desk to facilitate Covid-related imports

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IANSLive
New Delhi, May 3 (IANS) In order to facilitate the quick clearance of imports of Covid-related equipment or medicaments, the Central Board of Indirect Taxes and Customs (CBIC) has set up a dedicated help desk that will handle all queries and grievances.
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Update: 03-May-2021 ....

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OPEC's share of Indian oil imports plunges to two decade low - trade

3 Min Read
NEW DELHI (Reuters) - OPEC’s share of India’s oil imports fell to the lowest in at least two decades in the year to the end of March as overall purchases by Asia’s third largest economy fell to a six-year low, data obtained from industry and trade sources showed.
FILE PHOTO: The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria, September 28, 2016. REUTERS/Ramzi Boudina/File Photo
Total crude imports by the world’s third-biggest oil importer fell to 3.97 million barrels per day (bpd) in the 2021 fiscal year to March 31, down 11.8% from a year earlier, the data showed. ....

United States , Saudi Arabia , United Arab Emirates , Kirsten Donovan , Nidhi Verma , Thomson Reuters Trust Principles , Organization Of The Petroleum Exporting Countries , Middle East , Petroleum Exporting Countries , United Arab , Thomson Reuters Trust , Africa Crudes , Americas Crudes , Asia Crudes , Asia Pacific , Commodities News 3rd Party , Crude Oil , Economic Indicators , Europe Middle East Africa Crudes , Emerging Market Countries , Energy Legacy , Latin America Crudes , Middle East Crudes , Major News , Energy Markets , Oil Amp Gas Trbc Level 3 ,