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Whopping increase in security deposit by SSGCL, SNGPL

Source: Geo News | 23-08-2013

ISLAMABAD: Sui Southern Gas Company Limited (SSGCL) and Sui Northern Gas Pipelines Limited (SNGPL) have massively increased the amount of security deposit for the existing as well as the new customers effective from July, Geo News reported.

Sources said that the security deposit of Rs1500 from new customers used to be charged, which mounted by Rs3000 has now been fixed at Rs4500.

As if this was not enough, these gas distribution companies haven’t spared even their existing customers and an additional Rs250 per month would be recovered for six months from the customers paying gas bills of Rs1000.

Sources further said that the gas distribution companies would make an additional recovery of about Rs5 billion on account of the surged gas deposit fees.

SECP takes action against company

Source: The Nation | 02-04-2013

The Securities and Exchange Commission of Pakistan has taken action against Jahangir Siddiqui & Company Limited (JSCL) for awarding over $4.3 million to son of Jahangir Siddiqui, a non-executive director, under the head of advisory fee - an extraordinary payment. According to sources, the SECP has issued notice to Suleman Lalani, the Chief Executive ..... Read more

Gas theft, losses: Legal hitches in passing on burden to consumers

Source: Dawn News | 21-03-2013

A decision of the outgoing cabinet to pass on the burden of Rs5.5 billion gas theft and losses caused by security situation to consumers is reported to have been withheld because of legal complications. A senior official of the ministry of petroleum told Dawn on Wednesday the March 7 cabinet decision contained contradictory elements which might need to ..... Read more

Pakistan must expand its social safety programmes

Source: Tribune | 02-05-2013

With a slew of social safety programmes ranging from food stamps for the poor to free medical coverage for the elderly introduced in most developed countries after World War II gradually becoming unsustainable in today’s ageing societies, many prosperous nations are now increasingly forced to cut down on their social-sector spending. However, for a ..... Read more

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