Islamabad Capital Territory

Islamabad | ReNews Pakistan
Transparency International Pakistan has urged Prime Minister Shehbaz Sharif to intervene over alleged regulatory violations relating to the transfer of a controlling stake in Jura Energy Corporation and its related entities.

In a letter to the Adviser to the Prime Minister, Transparency International Pakistan alleged that around 73.3% of Jura Energy Corporation’s controlling shareholding was transferred to IDL Investments Limited without obtaining the required prior approval from the Government of Pakistan.

The organisation referred to a show cause notice issued by the Directorate General Petroleum Concessions on July 18, 2025, concerning the transaction and alleged violations of the Pakistan Petroleum Exploration and Production Rules.

According to Transparency International Pakistan, the government is considering two options in relation to the matter. These include revoking the petroleum rights held by Jura subsidiaries Frontier Holdings Limited and Spud Energy Pty Limited, or issuing a warning followed by retrospective approval of the share transfer. The organisation has questioned the legal basis for the latter option.

Transparency International Pakistan has called for an independent inquiry into who proposed the warning and retrospective regularisation option, what legal authority supported the proposal and whether the relevant legal opinion was accurately presented to the Economic Coordination Committee.

The organisation has also sought an examination of tax, capital gains tax, withholding tax and other fiscal clearances associated with the transaction. It said the deal involved approximately C$1.266 million, equivalent to around Rs316 million, and raised questions over the applicability of capital gains and withholding taxes.

Transparency International Pakistan also cited Rules 68(d) and 69(d) of the Pakistan Petroleum Exploration and Production Rules, which deal with changes in effective control and the disposition of share capital without prior government consent.

The Petroleum Division’s July 2025 show cause notice sought information from Jura Energy, Frontier Holdings and Spud Energy regarding their shareholding structures before and after the March 6, 2025 transfer. It also sought details concerning changes in management or control, regulatory disclosures and the tax treatment of the transaction.

The notice further asked whether IDL Investments had exercised shareholder or voting rights that affected the operations or governance of the two subsidiaries.

Jura Energy, in a statement issued on September 18, 2026, said the March 2025 share transfer did not require prior government consent under the applicable petroleum rules. The company said its position was supported by an independent legal opinion from a Pakistani lawyer and maintained that it had complied with applicable laws, regulations and contractual obligations.

Jura Energy also said reports regarding possible revocation of its petroleum rights did not represent a confirmed government decision.

Transparency International Pakistan has nevertheless urged the government to ensure that any action in the matter is taken in accordance with the law and that responsibility is established if statutory requirements were bypassed.

Islamabad | ReNews Pakistan
The Petroleum Division has decided to seek approval from the International Monetary Fund for introducing a uniform gas tariff across Pakistan from July 1, 2027, with the proposed reforms involving the abolition of the existing cross subsidy system and targeted financial assistance for low income households.

Under the proposed reforms, Pakistan’s existing 12 slab based gas tariff structure would be phased out. At present, consumers pay different gas rates according to their monthly consumption, while the proposed system would gradually move all consumer categories towards a uniform average tariff of around Rs1,708 per MMBtu.

The proposed reform package also includes a targeted financial assistance mechanism for eligible and low income households. The government would need to allocate around Rs162 billion for this purpose to provide direct support to households that may face a higher financial burden under the uniform tariff structure.

Under the existing cross subsidy mechanism, gas tariffs vary according to consumer categories and levels of consumption, with the pricing structure incorporating subsidies across different categories. The proposed reforms seek to replace this mechanism with direct financial assistance for eligible low income consumers.

The Petroleum Division is expected to discuss the proposed reforms with the IMF mission visiting Pakistan for the ongoing review of the country’s programme. The government is expected to brief the mission on the proposed uniform tariff, the transition from the existing slab based system and the mechanism for providing targeted support to low income households.

The proposed tariff structure is aimed at simplifying the gas pricing system by gradually bringing different consumer categories towards a common average tariff. At the same time, financial support for eligible households would be provided directly rather than through the existing cross subsidy mechanism.

The final structure of the proposed reforms, including the implementation mechanism for the uniform tariff and the criteria for targeted financial assistance, is expected to be discussed with the IMF before the government proceeds with the planned changes.

If approved, the new system would replace the existing 12 slab based gas tariff structure from July 1, 2027, while targeted assistance would be used to support eligible low income households.

Islamabad | ReNews Pakistan
The Supreme Court has expressed serious concern over the disappearance of files relating to state owned land and directed the relevant authorities to trace and produce the complete records before the court at the next hearing.

A two member bench comprising Justice Jamal Khan Mandokhail and Justice Naeem Akhtar Afghan heard a case concerning ownership of 85 acres of Forest Department land in Pasrur tehsil of Sialkot and 666 kanals of land in Gujrat.

During the hearing, the court was informed that records relating to the state owned land were not available. The issue prompted strong concern from the bench, with Justice Jamal Khan Mandokhail observing that the disappearance of files concerning government land was not a minor matter.

Justice Jamal Khan Mandokhail cautioned the relevant officials against taking the matter lightly and said that an individual official should not be allowed to interfere with the functioning of the state system.

The Assistant Commissioner Pasrur told the court that the relevant record could not be found at his office and that a letter had been sent to the Deputy Commissioner’s Office seeking the records.

The court observed that records often become unavailable where there is a need to deny something. It directed the relevant Assistant Commissioners to locate the complete records concerning the government land and present them before the court at the next hearing.

The case concerns the ownership of 85 acres of Forest Department land in Pasrur and 666 kanals in Gujrat. The proceedings also highlighted the importance of maintaining and protecting official land records relating to state owned property.

The Supreme Court adjourned further proceedings for an indefinite period.