Re: Federal & Punjab Govts initiatives/Progress
LNG import: SSGC, ECC likely to award $1.4b contract today – The Express Tribune
Re: Federal & Punjab Govts initiatives/Progress
Foreign companies invest $2.02bn for oil and gas exploration
Wednesday, 22 January 2014
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ISLAMABAD: Foreign exploration and production companies have invested about $2.02 billion for oil and gas exploration in the country during last three years.
The government has launched an investor friendly Petroleum Policy 2012 to attract further foreign investment to cope with the demand of oil and gas.
Incentives offered in this regard include better gas price, windfall levy reduced from 5 percent to 40 percent, base price for crude oil and condensate increased from $30/barrel to $40/barrel, official sources told APP on Wednesday.
“Ceiling of $100/barrel is replaced with $110/barrel, while renewal of lease will also be ensured, after expiry of lease term for another five years subject to payment of amount of 15 percent of the well head value”.
He said sale of 90 percent share of pipeline specification gas to the government and 10 percent by E&P companies to any buyer with prior consent of the government was another step to encourage foreign investment.
The official said a bonanza of $1/MMBTU would be given for first three discoveries in offshore area.
The Policy 2012 gas price will also be extended to the lease for additional 10% production over and above the commitment of development plan approved by the government, he added.
For the purpose of pricing and delivery obligations for natural gas, he said, the gas would be delivered at outlet flange (Field Gate/ Delivery Point).
While for offshore, the gas will be delivered at the nearest access point to an existing regulated transmission system or at the shore within coastal locations, he added.
Award process for 50 new exploration blocks is being finalized in consultation with the provinces, he said.
In order to exploit shale gas reserves of the country, he said the USAID was providing technical assistance to Ministry of Petroleum and Natural Resources via appointment of experts in the Shale Gas policy formulation and technology support for exploitation of unconventional gas resources.
Approval to commence project has been granted in October 2013 and it will take nine months to complete, he added.
Re: Federal & Punjab Govts initiatives/Progress
GSP plus opportunity: value-added textile industry begins reaping benefits
January 26, 2014
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Value-added textile industry has started reaping benefits of the GSP plus status, as the EU customs officials are clearing consignments duty free. Leading value-added exporters told *Business Recorder *that the consignments are being cleared under the Article 10(1) of Regulation (EU) No 978/2012 of 25 October 2012 (GSP Regulation) issued as Commission Delegated Regulation (EU) 1/2014 of 28 August 2013.
Former Chairman Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Ijaz Khokhar said the consignments, treated under the GSP plus arrangement have been shipped by air so far. “No complaint has so far been received from any member yet,” he said and added that his own consignments are cleared duty free by the EU officials.
M I Khurram, a leading knitwear exporter, said the EU is entertaining textile goods from Pakistan duty free. He further confirmed that exporters are shipping consignments by air and no report of shipment by sea has so far been received by him. It may be noted that the Directorate General for Trade of the European Commission informed Pakistan Mission to the EU on 30th December 2013 that it is the date of acceptance of the customs declaration for release for free circulation of the goods by the customs authorities of the member state of importation.
The value-added exporters said the EU customers are gearing up their queries to take benefit of the scheme from all across the Europe. The routine business with the EU has started gaining momentum and actual benefit of the scheme will get clear by next six months, they added. It is worth noting that the central government has responded to the trade concession from the EU positively by ensuring gas supply to the basic textile units and electricity supply to the value-added units during winter, which was rare during the previous regime. Accordingly, the month-on-month value-added exports have surged by over 20% during December 2013, the latest export data released by the Federal Bureau of Statistics suggests.
However, Ijaz Khokhar has yet pressed hard for toeing the GSP plus implementation committee recommendations to boost the benefit from GSP plus status. The government should encourage the exporters to diversify their products instead of trying their lucks in traditionally exportable goods, he added.
How many more terrorists will be set free to keep this GSP status?
I bet its a deception.
Re: Federal & Punjab Govts initiatives/Progress
29 wind power projects at different stages of implementation
Re: Federal & Punjab Govts initiatives/Progress
Chinese to build $1.2b economic corridor at Gwadar port | Pakistan Today
Re: Federal & Punjab Govts initiatives/Progress