The Special Investment Equipment Council (SIFC) led the main repairs in the energy sector, enabling private gas companies to reduce the circular debt burden by 71 billion rupees annually, according to the President of Universal Gas Distribution (UGDC) GHIYAS PARACHA.
According to a news report, Paracha highlighted that the government is expected to generate 12 billion rupees annually in sales tax revenue after the opening of the gas market. Reforms, which were presented by amending the 2012 oil policy, allows oil and gas exploration companies to sell 35 % of gas to third parties, a significant increase over the previous 10 %. This change aims to improve the cash flows of energy companies and expand the opportunities for private sector participation.
Parasha, a member of the Gas Committee led by Deputy Prime Minister Isaac Dar, is the credit for the commander of the General Army, Amer Monir and SIFC for his leadership of these transformative measures. He praised the participation of the council consistent with the stakeholders, which guaranteed the successful implementation of the new policies.
Under the revised framework, it is expected that companies that provide 100 MMCFD gas will pay about $ 255.5 million in advance, equivalent to 71.28 billion rupees. This pre -payment mechanism is designed to prevent additional circular debt accumulation.
Reforms are expected to generate $ 46 million (about 12.81 billion rupees) in sales tax revenue, which enhances government financial.
In addition, the policy can help maintain foreign currencies Pakistan by reducing dependence on imported liquefied natural gas. Officials estimate that avoiding importing even one LNG shipping annually can save the country about $ 400 million, providing a large boost for the National Treasury.
