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Pakistan gas reserves to reduce 75% in 10 years: ministry

Proposes increasing the country's dependency on LPG, measures for it

SAMAA | - Posted: Nov 17, 2020 | Last Updated: 7 months ago
SAMAA |
Posted: Nov 17, 2020 | Last Updated: 7 months ago

The Ministry of Planning and Development has warned that natural gas reserves in Pakistan will be reduced by 75% in the next 10 years.

The production of natural gas will reduce from 4 billion cubic feet to 1 billion cubic feet, according to documents seen by SAMAA TV.

In its report, the ministry has proposed increasing the country's dependency on liquefied petroleum gas. For this, it has suggested ending 5.5% withholding and 3% additional taxes and decreasing the sales tax on local production by 7%.

The LPG Distributors' Association says the public could benefit from elimination of taxes rather than subsidy on LPG.

Irfan Khokhar, the LPG Distributors' Association chairman, told SAMAA TV that the government is currently subsidising the LPG.

"We do not want subsidised [LPG]," he said. "We want the taxes eliminated and the people to get low-cost LPG."

The report also proposed adjustment of petroleum levy according to the global market and elimination of advance income tax on imported LPG.

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