Pakistan plans to reduce Rs1.6tr of debt in gas sector: Ishaq Dar

News Image

MG News | January 11, 2023 at 02:37 PM GMT+05:00

0:00

January 11, 2023 (MLN): The federal government is planning to reduce the gas debt by Rs1.6 trillion, Federal Minister for Finance and Revenue, Senator Muhammad Ishaq Dar said during a news conference on Wednesday. 

The aforestated measure has been taken to comply with the conditions of the International Monetary Fund (IMF) pertaining to energy sector reforms, he added. 

For this, a comprehensive exercise has been completed and the government will reduce the debt burden through companies’ dividends. 

It is pertinent to mention that the Sui Southern Gas Companies (SSGC) is already enduring whopping losses of Rs677 billion because of not increasing the gas prices. 

If the situation continues unattended, its losses will likely surge to Rs757bn by June 2023.

At present, gas rates for residential consumer clocks in at Rs450 per MMBTU in Sui Southern against the prescribed price of Rs850 per MMBTU and Rs400 per MMBTU in the Sui Northern system against the prescribed price of PKR 1,007 per MMBTU, which depicts a large gap between sale gas price and actual cost of gas.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 134,299.77
290.06M
0.39%
517.42
ALLSHR 84,018.16
764.12M
0.48%
402.35
KSE30 40,814.29
132.59M
0.33%
132.52
KMI30 192,589.16
116.24M
0.49%
948.28
KMIALLSHR 56,072.25
387.69M
0.32%
180.74
BKTi 36,971.75
19.46M
-0.05%
-16.94
OGTi 28,240.28
6.19M
0.21%
58.78
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,140.00 119,450.00
115,635.00
4270.00
3.75%
BRENT CRUDE 70.63 70.71
68.55
1.99
2.90%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.10
1.14%
ROTTERDAM COAL MONTHLY 108.75 108.75
108.75
0.40
0.37%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.75 68.77
66.50
2.18
3.27%
SUGAR #11 WORLD 16.56 16.60
16.20
0.30
1.85%

Chart of the Day


Latest News
July 11, 2025 at 10:56 PM GMT+05:00

Gold price in Pakistan rises Rs2,300 per tola


July 11, 2025 at 05:49 PM GMT+05:00

PKR gains 10 paisa per USD


July 11, 2025 at 05:41 PM GMT+05:00

PSX Closing Bell: Bulls Serenade The Bourse


July 11, 2025 at 05:06 PM GMT+05:00

UBL doubles profit to Rs65bn in 1HCY25


July 11, 2025 at 04:19 PM GMT+05:00

Ideal Spinning Mills to exit spinning business



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg