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PAKISTAN PETROLEUM LIMITED SELL-OFF DELAYED FOR TWO YEARS.
ISLAMABAD, June 3 Asia Pulse - The Pakistan government has decided to put on hold the privatisation of Pakistan Petroleum Limited (PPL) for one or two years to give it time to benefit from the 140 per cent increase in gas prices.
Official sources told reporters that the proposal was put before the privatisation board by the ministry of petroleum. It stated that the company should be allowed to reap the benefits of dismantling of its gas purchase agreement (GPA) and three-year tariff rationalisation plan.
The tariff rationalisation plan was approved by the federal cabinet last year and first instalment of around 12 per cent increase was implemented with effect from March 1, 2001. The next round of gas tariff increase would take place on September 1, 2002, as part of six-monthly price increases.
"The government believed that it would be premature ...
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- Pakistan Petroleum Limited to undertake offshore drilling for gas in Arabian...
- News wire article from: PPI - Pakistan Press International July 30, 2004 700+ words
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- Pakistan Petroleum Limited Pasni X-2 Offshore Well.
- News wire article from: PPI - Pakistan Press International February 17, 2005 700+ words
Karachi, Feb 17 PPI: Pakistan Petroleum Limited (PPL) is planning to drill an offshore exploration well Pasni X-2, located about 58 kms south west of Pasni in Balochistan...