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ISLAMABAD: The National Assembly on Wednesday passed the Elections (Amendment) Bill, 2026, allowing lawmakers to withhold the disclosure of their assets and liabilities if making them public could seriously threaten the life or safety of the member or their family. This development came at a crucial time, as Pakistan has agreed to conditions set by the International Monetary Fund (IMF) to make the asset declarations of high-level officials publicly available. The government had pledged to make these declarations accessible online by December 2026. The National Assembly also passed “The Corporate Social Responsibility Bill, 2026”, bringing the banking sector and state-owned enterprises under Corporate Social Responsibility (CSR), which requires large and profitable companies to spend one percent of their profits on CSR activities. Shazia Atta Marri and Dr Nafisa Shah of the Pakistan People’s Party (PPP) separately tabled the Elections (Amendment) Bill, 2026, and the Corporate Social Responsibility Bill, 2026, as private members’ bills in the House. The House passed the both bills with majority votes. According to clause six of the bill which amends the section 138 of “The Elections Act, 2017,” “Provided that the Speaker of the concerned Assembly or, as the case may be, the chairman of the senate, on an application made by a member and for reasons to be recorded in writing, by a ruling delivered in the chamber, determine that the statement of assets and liabilities of that member shall not be published publicly by the Commission if such publication pose a serious threat to the life or safety of the members or, as the case may be, his family, for a period not exceeding one year at a time and subject to the condition that a complete and true statement of assets and liabilities shall be submitted confidentially to the Election Commission. According to the bill, the role of election disputes is being given to the Federal Constitutional Court. Under the approved amendments, several sections of the Elections Act, 2017 have been revised to replace the term “Supreme Court” with “Federal Constitutional Court”. Section 9 has been amended to include the Federal Constitutional Court. Section 66 now formally brings the court within the jurisdiction framework. Section 104 and 104A have been amended to assign election dispute matters to the Federal Constitutional Court. As a result, election-related appeals, disputes, and legal interpretation under election laws will now fall under the jurisdiction of the Federal Constitutional Court, which was established under the 27th Constitutional Amendment. The bill now needs approval from the Senate and the President’s assent before it becomes law. However, the opposition opposed the Elections (Amendment) Bill, 2026. During the debate, Acting Chairman of Pakistan Tehreek-e-Insaf (PTI) Barrister Gohar opposed the bill, arguing that routine election matters were being shifted from the Supreme Court to the Constitutional Court unnecessarily. Copyright Business Recorder, 2026

Federal Minister for Petroleum, Mr. Ali Pervaiz Malik, held a meeting with the British High Commissioner to Pakistan, H.E. Jane Marriott in Islamabad on January 20, 2026. Pakistan and the United Kingdom have initiated discussions on a potential $400 million partnership in the minerals sector, alongside expanding collaboration in oil, gas exploration, and offshore energy. The talks aim to boost foreign investment and strengthen sector governance as Pakistan seeks to improve its energy and minerals industries. The meeting, between Minister for Petroleum Ali Pervaiz Malik and British High Commissioner to Pakistan Jane Marriott, highlighted both countries’ interest in deepening bilateral ties across Pakistan’s energy and minerals value chain. High Commissioner Marriott emphasized the vast potential of Pakistan’s resources and praised ongoing economic reforms aimed at enhancing the investment climate. She noted the UK’s interest in contributing its technical expertise to help Pakistan achieve its development objectives. A major point of discussion was the minerals sector, where progress is being made through a partnership between the British Geological Survey and the Geological Survey of Pakistan (GSP). The UK has offered up to $400 million to support the initiative, which aims to improve geological mapping, data quality, and institutional capacity. Minister Malik described the program as a transformative step for Pakistan’s minerals sector once finalised. The talks also addressed oil and gas exploration, with Minister Malik underlining the government’s commitment to transparent and investor-friendly processes. He stressed the importance of strengthening institutions in the energy sector to restore investor confidence and unlock new opportunities. A key area of focus was the restructuring and capacity building of the Oil and Gas Regulatory Authority (Ogra). Minister Malik proposed a diagnostic exercise, supported by the UK, to introduce modern governance and regulatory tools for improving Ogra’s effectiveness. High Commissioner Marriott agreed on the critical role of a capable regulator in ensuring the sector’s sustainability and expressed willingness to explore such initiatives jointly. Minister Malik encouraged British companies to explore offshore exploration opportunities in Pakistan, pointing to the country’s recent offshore bidding round, which attracted international interest, including from Turkish Petroleum. Marriott acknowledged the UK’s strong offshore capabilities, signaling significant potential for collaboration in this area. Additionally, the British High Commissioner was invited to attend the Pakistan Minerals Investment Forum (PMIF) in April 2026, following a successful turnout at the previous year’s forum. Marriott confirmed that the UK would engage British companies, particularly service providers, to ensure strong participation at the upcoming event.

ISLAMABAD: The Pakistan Petroleum Exploration and Production Companies Association (PPEPCA) has sought the Ministry of Energy’s support to resolve issue of overdue receivables of Rs 1.547 trillion owed to exploration and production (E&P) companies by the Sui gas companies, well-informed sources told Business Recorder. In a letter addressed to the top leadership of the Ministry of Energy — including the minister, secretary, and other concerned authorities — PPEPCA referred to its earlier communication dated August 22, 2025, titled “Default of SNGPL/SSGCL in Payment of Invoices of E&P Companies.” The association reiterated that Pakistan’s upstream oil and gas sector forms the backbone of the national economy. According to PPEPCA, the upstream sector is currently producing around 2,684 MMscfd of gas, meeting over 30 percent of the country’s primary energy needs. However, the sector is facing a sustained decline, primarily due to the persistent default by state-owned gas utility companies in clearing overdue payments to E&P companies. As a result, the country’s gas production has declined significantly from its peak level of 4 Bcf per day. Documents showed that receivable balances have continued to accumulate over the past ten years, placing severe financial strain on upstream companies. Notably, several E&P companies exited Pakistan during this period. The PPEPCA expressed deep concern that no material improvement was observed in outstanding receivables during FY 2024–25, despite four consecutive consumer gas price increases notified on November 1, 2023; February 1, 2024; July 1, 2024; and January 1, 2025. Moreover, the latest price adjustment in July 2025 has also failed to yield any meaningful improvement in the receivable position. This situation underscores the urgent need for additional structural and financial measures to address liquidity constraints faced by gas utility companies and to revive the petroleum exploration and production sector. As of September 30, 2025, the total invoiced amount stood at Rs 1.547 trillion (excluding late payment surcharge). Of this, outstanding receivables from SSGCL amounted to Rs 826.19 billion (Rs 730.49 billion and USD 339.37 million), while receivables from SNGPL stood at Rs 720.97 billion (Rs 718.91 billion and USD 7.28 million). The participating companies included Al Haj, GHPL, KUFPEC, Mari, OGDCL, OPI, POGC, POL, PPL, Prime, and UEP. The PPEPCA noted that the figures do not reflect total upstream receivables, as some companies did not provide the required data. Under the terms of Petroleum Concession Agreements and Gas Sale Agreements, gas buyers are required to make payments within 30 days of receiving invoices. However, the ageing analysis shows that Rs 991 billion, representing 64 percent of the total outstanding amount, has remained overdue for more than one year. “The continued default by the Sui companies in settling overdue invoices owed to upstream E&P companies has severely strained the sector, triggering a critical cash flow crisis. Consequently, exploration and development activities have been curtailed, leading to a sustained decline in indigenous gas supplies. This deterioration not only threatens energy security but also erodes investor confidence, further weakening the overall investment climate,” said PPEPCA Chairman Ibrar Khan in the letter. Copyright Business Recorder, 2026

ISLAMABAD: Pakistan’s energy sector is edging towards a structural breakdown as state-owned gas utilities have failed to pay Rs1.55 trillion to domestic oil and gas producers, pushing the upstream sector into a prolonged liquidity crisis and accelerating the decline in indigenous gas production at a time of mounting economic stress. The unpaid receivables—largely accumulated by Sui Southern Gas Company Limited (SSGCL) and Sui Northern Gas Pipelines Limited (SNGPL)—have become one of the most severe financial choke points in the country’s energy value chain. According to the latest data, Rs991 billion, or 64 per cent of total dues, has remained unpaid for more than one year, in clear violation of contractual payment obligations that require gas utilities to settle invoices within 30 days. The scale of the default has been formally highlighted by the Pakistan Petroleum Exploration and Production Companies Association (PPEPCA) in a letter dated January 13, 2026, addressed to the federal secretary of the Petroleum Division. The impact of sustained non-payment is now clearly visible in falling gas output. Pakistan’s upstream sector currently produces about 2,684 million cubic feet per day (MMSCFD) of natural gas, meeting just over 30 per cent of the country’s primary energy demand. This marks a sharp decline from peak production levels of nearly 4 billion cubic feet per day, with industry officials directly attributing the drop to cashflow constraints that have forced exploration and production companies to scale back drilling, defer development projects and abandon marginal fields. This deterioration, PPEPCA mentions, has occurred despite repeated increases in consumer gas prices. Since November 2023, the government has notified five separate gas tariff hikes, including the most recent adjustment in July 2025, aimed at improving the financial health of gas utilities. However, industry sources say the tariff increases have failed to translate into improved payment discipline, as revenues continue to be absorbed by system losses, inefficiencies, debt servicing and circular debt, leaving upstream producers unpaid. As of September 30, 2025, outstanding receivables excluding late payment surcharges stood at Rs826.19 billion from SSGCL, including USD 339.37 million in foreign currency obligations, and Rs720.97 billion from SNGPL, including USD 7.28 million. These figures are based on submissions from major upstream companies such as OGDCL, PPL, POL, Mari Petroleum, GHPL, KUFPEC, UEP, Prime, Al Haj, OPI, and POGC. PPEPCA has cautioned that the actual receivables of the sector may be even higher, as some companies have yet to provide complete data. The continued breach of Petroleum Concession Agreements and Gas Sale Agreements has severely undermined investor confidence. Over the past decade, several local and international exploration companies have exited Pakistan, citing mounting receivables, payment uncertainty, and weakening commercial viability. Those that remain have significantly reduced capital expenditure, raising concerns about the sustainability of future gas supplies. PPEPCA has urged the Ministry of Energy (Petroleum Division) to take urgent corrective measures, including financial restructuring of gas utilities, enforcement of contractual payment obligations and establishment of sustainable mechanisms to prevent further accumulation of receivables. Without decisive intervention, industry insiders caution that Pakistan risks irreversible damage to its upstream oil and gas sector—turning a prolonged payment default into a full-scale energy security and macroeconomic crisis.

ISLAMABAD: Oil and gas exploration and production (E&P) companies have expressed serious concern over alleged default on payments by the public gas utilities and have sought the government's intervention to resolve the matter. These companies have drawn attention of the state towards outstanding dues of Rs1.5 trillion payable by the gas utilities, which resulted in scaling back development projects and required intervention from the government to release the overdue amount. The receivables of exploration companies had amounted to Rs224 billion in June 2015, which piled up to Rs1.5 trillion in September 2025. These dues are exclusive of the late payment surcharge. The Pakistan Petroleum Exploration and Production Companies Association (PPEPCA), in a letter sent to the Petroleum Division secretary, said that the default on payments by gas utilities had put a strain on the financial position of E&P companies. The exploration firms supply gas extracted from different fields to public utilities Sui Northern Gas Pipelines Ltd (SNGPL) and Sui Southern Gas Company (SSGC) for onward distribution to energy consumers. "We would like to reiterate that Pakistan's upstream oil and gas sector forms the backbone of the national economy. In recent times, this sector has been producing 2,684 mmscfd (million standard cubic feet per day) of gas, meeting over 30% of the country's primary energy needs," emphasised PPEPCA. However, it added, the sector was witnessing a downward trend, driven primarily by persistent default by the state-owned gas distribution companies in settling the overdue payments to E&P firms. Consequently, the country's gas production has experienced a significant decline from its peak of four billion cubic feet per day. PPEPCA claimed that SNGPL had to pay Rs718 billion to oil and gas exploration companies whereas SSGC owed Rs730 billion. The E&P companies impacted by the delay in payments included Al Haj Pakistan Exploration Ltd, Government Holdings Private Ltd, Kufpec, Mari Energies, OGDC, Orient Petroleum, Polish Oil and Gas Company, Pakistan Oilfields Ltd, Pakistan Petroleum, Prime and United Energy Pakistan. "The balance provided does not reflect the total receivables of upstream companies as some of the companies have not provided the required data/information," said the association in the letter. As evident from the statistics, it added, the receivables balance continued to accumulate over 10 years, exerting significant financial pressure on the upstream companies. The industry body stressed that it was important to note that during the same period several E&P companies exited Pakistan. "It is deeply concerning that no material improvement has been observed in the outstanding receivables during fiscal year 2024-25, despite four consecutive consumer gas price increases notified on November 1, 2023, February 1, 2024, July 1, 2024 and January 1, 2025." Furthermore, the latest price adjustment in July 2025 also failed to help make any notable progress in improving the receivables position. This persistent challenge underscores the urgent need for additional structural and financial measures to address the liquidity constraints facing the gas utility companies and to revitalise the petroleum exploration and production sector as a whole, said PPEPCA. According to the association, the terms and conditions outlined in the Petroleum Concession Agreements and Gas Sale Agreements require gas buyers to make payments within 30 days of receiving the invoice. However, the ageing analysis of receivables reveals a concerning trend, which showed an increase of over Rs990 billion, representing 64% of the total outstanding amount, which had been overdue for more than one year. The continuing default by Sui companies in settling the overdue invoices has severely strained the sector, triggering a critical cash flow crisis, said the association. As a result, exploration and development activities have been scaled back, leading to a continuous decline in gas supplies.

اسلام آباد ( خالد مصطفیٰ) پاکستان کا توانائی شعبہ ایک ساختی بحران کے دہانے پر پہنچ چکا ہے، کیونکہ سرکاری گیس یوٹیلیٹیز مقامی تیل و گیس پیدا کرنے والی کمپنیوں کو 1.55کھرب روپے کی ادائیگی میں ناکام رہی ہیں۔ اس نادہندگی نے اپ اسٹریم سیکٹر کو طویل مالی قلت میں دھکیل دیا ہے اور ملکی گیس کی پیداوار میں تیزی سے کمی آ رہی ہے، جبکہ معیشت پہلے ہی شدید دباؤ کا شکار ہے۔غیر ادا شدہ واجبات—جو زیادہ تر سوئی سدرن گیس کمپنی لمیٹڈ (SSGCL) اور سوئی نادرن گیس پائپ لائنز لمیٹڈ (SNGPL) کے ذمے ہیں—ملک کی توانائی ویلیو چین میں سب سے سنگین مالی رکاوٹوں میں تبدیل ہو چکے ہیں۔تازہ اعداد و شمار کے مطابق، مجموعی واجبات میں سے 991 ارب روپے (یعنی 64 فیصد) ایک سال سے زائد عرصے سے ادا نہیں کیے گئے، جو معاہداتی ادائیگی شرائط کی کھلی خلاف ورزی ہے، کیونکہ ان معاہدوں کے تحت گیس یوٹیلیٹیز 30 دن کے اندر ادائیگی کی پابند ہیں۔ اس بڑے ڈیفالٹ کو پاکستان پیٹرولیم ایکسپلوریشن اینڈ پروڈکشن کمپنیز ایسوسی ایشن نے 13جنوری 2026کو پیٹرولیم ڈویژن کے وفاقی سیکریٹری کو ارسال کردہ خط میں باضابطہ طور پر اجاگر کیا ہے۔مسلسل عدم ادائیگی کے اثرات اب گیس پیداوار میں واضح کمی کی صورت میں سامنے آ چکے ہیں۔

ISLAMABAD: The upstream oil and gas exploration and production companies have lodged a strong protest against the state-owned Sui Southern Gas Company Ltd and Sui Northern Gas Pipeline Ltd for defaulting on more than Rs1.5 trillion in overdue payments. Pakistan Petroleum Exploration and Production Companies Association (PPEPCA), in a letter to the Petroleum Division, said that more than Rs1.5tr was pending against SNGPL and SSGC. The dues of exploration companies stood at Rs224 billion in June 2015, which piled up to Rs1.5tr by September 2025, excluding late payment surcharges. “It is deeply concerning that no material improvement has been observed in the outstanding receivables during the fiscal year 2024-25, despite four consecutive consumer gas price increases notified on Nov 1, 2023, Feb 1, 2024, July 1, 2024, and Jan 1, 2025,” PPEPCA has said. SNGPL owes Rs718bn and SSGCL Rs730bn up to September 2025 The association said that in recent times, this sector has been producing 2.68 billion cubic feet daily (BCFD), meeting over 30 per cent of the country’s primary energy needs. However, the sector is witnessing a downward trend, driven primarily by the persistent defaults of state-owned gas utility companies in settling overdue payments to E&P companies. This deterioration not only threatens energy security but also undermines investor confidence, further weakening the overall investment climate in the country, it said. The letter added that, as a result, the country’s gas production has declined significantly from its peak of 4 BCF per day. PPEPCA said that SNGPL was to pay Rs718bn, whereas SSGCL was to pay Rs730bn to oil and gas exploration companies. It added that the balance provided does not reflect the total receivables of upstream companies, as some companies have not provided the required data. The E&P companies affected by the huge overdue debt include Al Haj, GHPL, Kufpec, Mari, OGDCL, OPI, POGC, POL, PPL, Prime and UEP. It added that the receivables have accumulated over 10 years, and PPEPCA also expressed concerns that several E&P companies exited Pakistan during this period. PPEPCA has referred to the terms and conditions in Petroleum Concession Agreements and Gas Sale Agreements, clearly stating that gas buyers must make payment within 30 days of receiving the invoice. The critical cash flow crisis has led to the scaling back of exploration and development activities, resulting in a continuous decline in indigenous gas supplies. Published in Dawn, January 18th, 2026

ISLAMABAD: The Oil Companies Advisory Council (OCAC) has expressed serious concern over failure of the regulator to implement the government's decision to raise margins of oil companies and over call for full recovery of investment in digitisation. In a letter to the Oil and Gas Regulatory Authority (Ogra) chairman, OCAC pointed to the absence of a notification for 50% increase in margins of oil marketing companies (OMCs), approved by the Economic Coordination Committee (ECC), for motor spirit (MS) and high-speed diesel (HSD). "As per our understanding, Rs0.61 per litre (out of a total of Rs1.22) was intended to take effect from December 15, 2025, with the remaining 50% linked to the achievement of digitisation targets." During the above-stated meeting held on January 14, 2026, the industry was informed that the federal cabinet had advised linkage of the entire increase in margins with 100% digitisation. "While the industry remains fully committed to digitisation, this revised linkage has effectively deferred implementation of even the already-approved immediate increase, thereby placing an additional financial strain on OMCs," it said. "OMCs continue to operate under a regulated margin framework that has remained stagnant for over two years and does not reflect escalating costs related to operations, financing, compliance and mandatory digitisation initiatives." OCAC requested Ogra to plead the industry's case, in coordination with the Ministry of Energy (Petroleum Division), before the cabinet for immediate notification and incorporation of 50% of the approved increase in margin, with effect from December 15, 2025. Digitisation cost recovery OCAC recalled that it had already shared the digitisation cost recovery mechanism through a letter dated January 12, 2026. To ensure timely, transparent and equitable recovery of digitisation investments, "it is proposed that a dedicated escrow-type account titled "Digitisation Fund" be created in the MS and HSD price structure, similar to the existing statutory levies (petroleum levy and climate support levy). The proposed mechanism provides for milestone-based reimbursements, ensuring funds are released against verified implementation, including due compensation of the significant investments already made by the OMCs in digitisation, it said. Under the mechanism, OCAC added that the combined margin of Rs2.56 per litre for the OMCs and dealers was proposed to be included in the price structure as a separate line item, split equally between MS and HSD, ie, Rs1.28 per litre. It asked Ogra and the Petroleum Division to obtain approval of the ECC for the inclusion of that separate line item and exercise joint oversight over the operation of the fund. It suggested that the account may be maintained as a savings account, with returns further supporting the digitisation initiatives. The oil industry body also called for immediate reimbursement, within 15 days of the establishment of the mechanism, covering both capital and operational costs. It underlined the need for the recovery of investment in auto tank gauging (ATG) systems already installed at retail outlets and the contribution made by the OMCs to the Raahguzar App as well as the contributions made by the OMCs and refineries to the track and trace system. OCAC proposed setting an initial milestone for the installation of ATGs at 10 retail outlets per OMC, with reimbursement to be initiated within 15 days of the receipt and verification of requisite documentation. It suggested the continuation of the mechanism until 2030, in line with the digitisation timelines submitted by the OMCs and extension of the mechanism beyond completion for maintenance and future technological upgrades. In the event the above mechanism is not adopted, OCAC proposed structured and ring-fenced recovery through the inland freight equalisation margin (IFEM), by incorporating the approved per-litre digitisation cost into each OMC's notified cost structure. "In such a case, timely fortnightly recovery and reconciliation would need to be ensured by Ogra." The industry lobby emphasised early finalisation of the above matters, given their critical importance to the financial viability, regulatory compliance and uninterrupted supply operations of the OMCs.