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Storm brewing against Pakistan Steam Gas Pipeline


Storm brewing against Pakistan Steam Gas Pipeline
July 28, 2021
ISLAMABAD: In a shocking development, Pakistan has asked Russia that it has no money to fully fund its 74 percent shareholding in the $3 billion project of Pakistan Steam Gas Pipeline (PSGP) and asked Moscow to raise debt financing up to $1.4 billion against its shareholding for the project raising eyebrows of many if the huge amount of Rs 295 billion ($1.83 billion) collected in the head of GIDC (gas infrastructure development cess) by Finance Ministry till August 2020 has been utilized by the government.
So much so that Pakistan also asked Russia to jack up its shareholding maximum up to 49 percent from 26 percent showing that Islamabad does not have the required amount to finance its own shareholding of 74 percent. This develops a strong impression if the government that collected over Rs385 billion has utilized the GIDC amount either in budget financing?. ....

Waqar Masood Khan , Tanwar Shaikh , Tabish Gauhar , Petroleum Division , Cabinet Committee On Energy , Petroleum Dr Arshad Mahmood , Centre For Operational Services , Ministry Of Defense , Ministry Of Energy , Energy Ministry , Supreme Court , Purpose Company , Division Of Pakistan , Petroleum Tabish Gauhar , International Financial Institutions , Ministry Of Energy Russia , Petroleum Division Sui Companies , Pakistan Steam Gas Pipeline , Finance Ministry , Inter State Gas System , Federal Energy Minister , Hammad Azhar , Account Number , Captive Power , Pakistan Stream Gas Pipeline , Cabinet Committee ,

Pakistan Stream Gas Pipeline: Pakistan wants Russia to increase shareholding up to 49pc


July 28, 2021
ISLAMABAD: In a shocking development, Pakistan has asked Russia that it has no money to fully fund its 74 percent shareholding in the $3 billion project of Pakistan Steam Gas Pipeline (PSGP) and asked Moscow to raise debt financing up to $1.4 billion against its shareholding for the project raising eyebrows of many if the huge amount of Rs 295 billion ($1.83 billion) collected in the head of GIDC (gas infrastructure development cess) by Finance Ministry till August 2020 has been utilized by the government.
So much so that Pakistan also asked Russia to jack up its shareholding maximum up to 49 percent from 26 percent showing that Islamabad does not have the required amount to finance its own shareholding of 74 percent. This develops a strong impression if the government that collected over Rs385 billion has utilized the GIDC amount either in budget financing?. ....

Waqar Masood Khan , Tanwar Shaikh , Tabish Gauhar , Petroleum Division , Cabinet Committee On Energy , Petroleum Dr Arshad Mahmood , Centre For Operational Services , Ministry Of Defense , Ministry Of Energy , Energy Ministry , Supreme Court , Purpose Company , Division Of Pakistan , Petroleum Tabish Gauhar , International Financial Institutions , Ministry Of Energy Russia , Petroleum Division Sui Companies , Pakistan Steam Gas Pipeline , Finance Ministry , Inter State Gas System , Federal Energy Minister , Hammad Azhar , Account Number , Captive Power , Pakistan Stream Gas Pipeline , Cabinet Committee ,

FBR gets stay against FTO decision


FBR gets stay against FTO decision
Blocks move to investigate low tax recovery in offshore asset cases
TRIBUNE CREATIVE
ISLAMABAD:
The Federal Board of Revenue (FBR) has obtained stay orders against the Federal Tax Ombudsman’s (FTO) decision to inspect offices dealing with offshore tax haven cases, blocking a move that could have unearthed reasons behind poor recovery of $22 million against $1.3 billion worth cases.
It is rare that a government department has gone in the courts against a constitutional office that is responsible to check corrupt practices in the tax machinery. The matter appears serious as stay orders have been obtained to block the move to scrutinise offshore tax havens related record, shared by Europe-based Organization for Economic Cooperation and Development (OECD) with Pakistan. ....

North West Frontier , Waqar Masood Khan , Mushtaq Sukhera , Arif Alvi , Imran Khan , Mohmmad Ashfaq , Islamabad Automatic Exchange Of Information , Organization For Economic Cooperation , Federal Board , Federal Tax Ombudsman , Europe Based Organization , Economic Cooperation , Islamabad Automatic Exchange , Director General International Taxes , Member Operations , Pakistan Dr Arif , Special Assistant , Prime Minister , Revenue Dr Waqar Masood Khan , Express Tribune , வடக்கு மேற்கு எல்லை , வகார் மசூட் காந் , முஷ்டாக் சுகேரா , ஆரிப் ஆல்வி , இம்ரான் காந் , ஆர்கநைஸேஶந் க்கு பொருளாதார ஒத்துழைப்பு ,