MN 18th Sep 2018

Gas Prices

 The Economic Coordination Committee (ECC) of the Cabinet has decided to increase gas
prices for all the sectors, including domestic, with the increase ranging from 10% to
143% to bridge the deficit of the two gas companies.
 The increase will reduce the revenue shortfall of companies from Rs 152 billion to Rs 58
billion.
 Furthermore, all taxes on import of LPG have been abolished and only 10% GST would
be levied.
 As a result, the price of an LPG cylinder would come down from the existing Rs 1,600 to
Rs 1,400.

Edotco Group

 Edotco Group, the Malaysia-based telecom infrastructure services firm, and Pakistan
Mobile Communication Limited (PMCL), commonly known as Jazz, have scrapped a
$940 million deal, involving acquisition of 13,000 cellular towers.
 An official working in Jazz cited unwanted delays as the reason for the deal to be
cancelled on a mutual basis.
 This development comes as a blow to foreign direct investment in Pakistan mainly
because of a hold up in certain regulatory approvals by government offices including
Pakistan Telecommunication Authority (PTA), State Bank of Pakistan (SBP,) and others.