GAS SUPPLY TO SINDH AND BALUCHISTAN STOPPED

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Gas supply was interrupted by the Sui Southern Gas Company Limited (SSGC) on Saturday to all captive power plants (CPPs) for general non-export businesses in Sindh and Balochistan, according to media reports. During the winter months, there is an increase in demand from domestic customers, thus this was done as a matter of importance.

The suspension of supply will take effect immediately and will stay in force until future orders are received and processed.

The usage of heaters and geysers throughout the winter season, according to Minister of Energy Hammad Azhar, has resulted in a gas shortage in the country.

Cabinet accepts decision to maintain $3 billion in Saudi Arabian funds at the Saudi Central Bank.

Meanwhile, the federal cabinet approved agreements on Saturday about the deposit of $3 billion in Saudi Arabian assistance in the State Bank of Pakistan (SBP) and the receipt of gasoline from the country for a period of one year on a deferred payment basis.

According to a claim by a private television station, Saudi Arabia would give Pakistan with petroleum worth $100 million per month on a delayed payment basis for a period of one year. Saudi Arabia will receive interest payments from the Pakistani government at a rate of 3.8 percent.

This agreement will initially be in effect for one year, but it may be renewed at a later date. The Economic Affairs Division has given a summary of its findings in this respect. The proposed agreement was approved by the finance ministry, the SBP, and the FBR. On Saturday, the federal cabinet gave its approval to both agreements by circulating summary.

Saudi Crown Prince Mohammad bin Salman had assured Pakistani Prime Minister Imran Khan during a recent visit to Saudi Arabia that the SBP would keep a $3 billion reserve and that petroleum would be provided to Pakistan on an extended payment facility for a period of one year.

Originally, it was agreed that the help would be held in the SBP bank account for a period of one year. The SBP has completed all of the necessary procedures, and the funds are anticipated to be received within the next few business days. Pakistan, on the other hand, will pay the Saudi government a profit of 4 percent each year on this cash.

In Pakistan, after reaching an agreement with the Saudi government, the agreement was submitted to the Ministry of Law and the Office of the Attorney-General, which came to an agreement on a draught.

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