Pakistan Oil & Gas - Gas circular debt - Growing fatal, (AKD Daily, May 18, 2023)
AKD Daily
Pakistan Oil & Gas - Gas circular debt - Growing fatal
- Energy chain’s circular debt has deeply marred any prospects the state owned energy companies have had against depleting hydrocarbon reserves/growing energy needs of the country
- Both the Sui companies are at the frontlines of supplying 2900-3000mmcfd of gas annually to the domestic sector. Both suffer from operational inefficiencies on account of UFG losses alongside a highly regulated pricing structure set by the Govt.
- Both the state owned E&P companies i.e. OGDC and PPL, leading to significant challenges in terms of operational activities and substandard dividend payouts (unlike MARI & POL).
- Country’s national OMC is presently battling out working capital issues, more specifically burgeoning trade debt situation owed on account of RLNG supplies to SNGPL.
- Implementation of the circular debt relief remains the need of the hour, either through sector overhauls or a one-off payouts through the federal revenue kitty.
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