NewzShewz
No Result
View All Result
Friday, June 20, 2025
  • Home
  • Finance
  • Politics
  • Energy
  • International
NewzShewz
  • Home
  • Finance
  • Politics
  • Energy
  • International
No Result
View All Result
NewzShewz
No Result
View All Result
Home Energy

PD to approach ECC for extension in refineries upgradation deadline

by AMG
October 23, 2024
in Energy
0
PD to approach ECC for extension in refineries upgradation deadline
34
VIEWS
Share on FacebookShare on Twitter

ISLAMABAD:  Petroleum Division is to move a summary to the ECC for extension upgradation deadline of refineries as the issue sales tax is still unresolved and needs a nod of International Monetary Fund.
   Sources told NewzShewz  the issues of refineries were discussed at a meeting of SIFC meeting on refineries request  which was chaired by Dr. Jehanzeb Khan, ex- Deputy Chairman Planning Commission and now Special Assistant to PM and Chairman SIFC Apex Committee. The meeting was also attended by Chairman OGRA, Additional Secretary Petroleum Division, Chief Tax Policy, FBR. Refineries were led by Adil Khattak, Chairman OCAC and CEO Attock Refinery Ltd. All other refineries were represented by their CEOs on line.

After detailed discussion, the meeting took, the following decisions were taken on the three issues raised by refineries: (i) Petroleum Division was directed to resolve the sales tax issue positively by November 12, 2024 ;(ii) Petroleum Division, OGRA and provincial governments with support from the industry to take effective measures against smuggling of petroleum products and to ensure products’ quality ; and (iii)  Chairman OGRA to ensure and certify that first priority will be given to upliftment of local refineries’ production and in case of import of deficit product priority will be given to PSO followed by other OMCs.

In view of deadline for signing of Upgradation Agreements expiring on October 22, 2024, the Chair asked Petroleum Division to move summary for extension for minimum possible time as the delay in implementation of the Brownfield Refineries Policy has already caused the exchequer billions of dollars. Ends

Related Posts

 Guddu  Power Plant: a hub of scandals
Energy

PCCC, CPGCL ink Guddu 747 O&M pact

by AMG
June 20, 2025
0

ISLAMABAD : Power Construction Corporation of China (PCCC) and Central Power Purchasing Agency Limited (CPGCL) are all set to sign...

Read more
PC Board takes key decisions
Energy

8 parties show interest in PIA

by AMG
June 19, 2025
0

ISLAMABAD: Eight parties have shown interest in acquisition of stakes of Pakistan International Airlines (PIA)According to Privatisation Commission, it had...

Read more
  • Trending
  • Comments
  • Latest
Dasu Transmission Line Controversy Continues

OSD DMD refutes incompetence label , highlights NTDC leadership flaws, WB project issues, corruption, and contractor influence”

June 12, 2025
Newzshewz Exclusive

NTDC BoD removes ” incompetent ” officials

April 23, 2025
GoP Receives Notice from Halmore Power Company Regarding ‘Forced’ Negotiated Settlement

GoP Receives Notice from Halmore Power Company Regarding ‘Forced’ Negotiated Settlement

December 8, 2024
Refineries seek FM intervention for removal of GST exemption on petroleum products

 ECC Likely to approve Rs 4.12/litre fuel price hike to support refineries, OMCs

May 14, 2025
Enhanced Rationalization in the Categorization of SOEs

Enhanced Rationalization in the Categorization of SOEs

0
PPIB to extend TLoS of ZSPL

PPIB to extend TLoS of ZSPL

0
CCP Fines Diamond Paint Industries PKR 5 million

CCP Fines Diamond Paint Industries PKR 5 million

0
Steering Committee on Discos

Steering Committee on Discos

0
 Guddu  Power Plant: a hub of scandals

PCCC, CPGCL ink Guddu 747 O&M pact

June 20, 2025
PC Board takes key decisions

8 parties show interest in PIA

June 19, 2025
PC Board takes key decisions

PC Board takes key decisions

June 19, 2025
Budget 2025-26: More Pain than Gain: PRAC

MoF inks $ 1 billion 5- year long-term financing facility

June 18, 2025
  • Home
  • About
  • Contact Us
  • Privacy Policy
  • Cookie Policy
  • Terms and Conditions
Contact us: contact@newzshewz.com

No Result
View All Result
  • Home
  • Finance
  • Energy
  • International
  • Politics
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.