Govt’s involvement in LNG business caused circular debt to balloon to alarming levels

Petroleum division proposed adoption of mechanism for settlement of actual premium to ensure supply/import security

Price fall at start of winter a welcome relief for gas consumers

It comes under quarterly adjustment; govt absorbs around Rs3 per unit in form of subsidy

Incentive being planned to encourage offshore drilling for oil, gas reserves

Dependence on expensive LNG continues to trap utilities

OGRA denies auditors’ findings, cites 2022 Ordinance

Raises levy to Rs50 per litre on petrol to boost revenue

Had offered price of $372 per tonne for import of 300,000 metric tonnes wheat

Companies to make minimum investment of $22.6 million