State Bank Of Pakistan Declares Internship Opportunities

The State Bank of Pakistan (SBP) has introduced a Summer Internship Program spanning six weeks, scheduled to occur from June 24 to August 02, 2024, at SBP Karachi.

Pakistani/AJK nationals possessing a valid CNIC/NICOP/Pakistani passport are encouraged to partake in the Summer Internship Program, as indicated by the SBP.

Read more: Gwadar port announces internship program.

Eligibility Criteria:
To be eligible, students must have completed at least two out of four years in a Bachelor’s degree program or currently be enrolled in a Master’s program.
Disciplines eligible for application include Economics, Business Administration, Public Administration, Accounting, Finance, Commerce, Mathematics, Statistics, Human Resources, Agriculture, Media Sciences/Mass Communication, Information Systems, and Technology.
Applicants are required to have a minimum of 70% marks in cases where the percentage system is applicable, or a minimum of 3.00 out of 4.00 or 4.00 out of 5.00 CGPA in cases where the GPA system is applicable.
These eligibility criteria must be fulfilled at the time of application. Graduates or students awaiting results to meet the criteria are not eligible for participation.
Application Procedure:
Applications lacking essential information will not be considered for shortlisting.
Applications submitted in person, via surface mail, or through email will not be entertained.
For technical issues during the application process, applicants can contact SBP via email at [email protected].
Application Deadline:
The deadline for online application submission is February 15, 2024.
Selection:
Shortlisted students will receive communication by March 15, 2024, and will be required to submit scanned attested copies of the last semester’s official transcript, CNIC/NICOP/valid Pakistani passport and domicile, along with one passport size photograph.
Any attempt to influence the shortlisting process will lead to automatic disqualification from the internship.
Selection will be conducted by SBP, and selected students will receive a confirmation email along with the procedures for participating in the internship.
Misinformation at any stage will result in immediate cancellation of candidature for the internship.
The internship will exclusively take place at SBP, Karachi. Selected interns will not receive any payment for travel expenses incurred for the journey to and from Karachi, nor will they be entitled to any accommodation during the internship.
How to Apply:
Interested individuals can submit their applications through the provided link.
here

To promote the exploration of tight gas in a technically and commercially viable manner, the Government of Pakistan has introduced the Tight Gas (Exploration & Production) Policy, 2024. The policy aims to incentivize both local and foreign Exploration and Production (E&P) companies to invest in unconventional hydrocarbons, recognizing the unique challenges associated with extracting optimum production from tight gas reservoirs. Unlike conventional wells, tight gas reservoirs require drilling multiple wells, leading to increased production costs. The policy addresses these challenges, encouraging the oil and gas industry to invest in unconventional ventures.

The extraction of value from tight gas reservoirs poses significant challenges, requiring state-of-the-art technologies and substantial investments in processes such as seismic acquisition, drilling, reservoir stimulation, and Field Development Plan (FDP). The policy acknowledges the longer recovery cycle and aims to bridge the demand-supply gap by providing a fair pricing regime compatible with market realities. The incentives of the policy apply to gas discoveries qualifying as “Tight Gas” under existing and future licenses and agreements.

Read more: Whats Causing The Gas Price Surge in Pakistan?

The pricing policy offers a 40 percent premium on the respective zonal price of the Petroleum (Exploration and Production) Policy 2012 for tight gas reserves. The incentive price is applicable to all tight gas discoveries under existing and future licenses, concessions, leases, and development and production leases. The provisional incentive price is notified once the Initial Third-Party Certification confirms the discovery as tight gas, with the final incentive price determined after the grant of Development and Production Lease.

Royalty is set at 12.5% of the value of petroleum at the field gate, and operating losses can be carried forward for up to fifteen years. Abandonment costs follow the provisions of the Finance Act 2010, and windfall levies are applicable as per the Petroleum Policy 2012. Other fiscal levies are not duplicated if both conventional and tight gases are produced from the same lease.

The policy allows for the suspension of production for up to one year, subject to technical and economic justifications, and the remittance of proceeds abroad follows the provisions of the Petroleum Policy 2012. The policy may be reviewed after five years, with specific provisions exempting the equipment and machinery used by the services sector from customs duty or other duties to incentivize the transfer of technology.

In case of disputes, the operator or the Working Interest Owner (WIO) may make representations to the Petroleum Division within 30 days from the date of the final decision by the Authority regarding the determination of tight gas under the policy.