Month: May 2022

The country’s apparel textile sector on Sunday warned the federal government of ‘disastrous’ implications for the economy if it discontinued the special power tariff to the five export-oriented sectors, saying that the IMF should be told the concessional facilities are not a ‘subsidy.’ The IMF should be informed that the special tariffs and DLTL are not subsidies rather ‘crucial’ export-policy…

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Business community here out rightly rejected the historic increase in prices of petroleum products, asking the government to revise its decision while keeping in view the fragile condition of business and industry and ailing economy of the country. The government’s decision would prove detrimental for the already feeble national economy, warned Hasnain Khurshid Ahmad, President Sarhad Chamber of Commerce and…

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The Finance Bill 2022 is expected to introduce a new concept of tax, ie, ‘Windfall Levy’ in the Income Tax Ordinance, 2001 for special taxation of the potential sectors making extraordinary profits, but not depositing the due amount of taxes. Sources told Business Recorder here on Saturday that the concept of the “Windfall Levy” does not exist in Pakistan. This is for…

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Liberalisation of the power market and indigenisation of energy mix should be the way forward for Pakistan to get rid of International Monetary Fund (IMF) borrowings, and eradicate poverty from the country. Chief Executive Officer of Engro Powergen Qadirpur Limited Shahab Qader told Business Recorder that the country should explore Thar coal, low BTU gas fields, and renewable energy sources…

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The ongoing loadshedding will continue to haunt the masses for the next 2-3 months till the fiscal constraints of the government are done away with, Federal Minister for Power Division Khurram Dastgir Khan says this while talking to The News. “We have made all the power plants operational, which were non-functional for lack of maintenance and fuel in the wake…

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In a bid to restore the $6 billion IMF programme, this time the government is left with no option but to increase the system gas tariff by around 40-50 percent as it is expecting the revenue requirement determination for financial year 2022-23 by OGRA in mid-June, a senior official at the Energy Ministry told The News. “The increase in gas…

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Over the decades, the rising demand of natural gas rapidly depleted its reserves and the country is now facing serious challenge of meeting gas and electricity demand of consumers. Rising population, improper usage of gas and electricity resource and injudicious subsidies equally benefiting both the poor and the rich, had been exerting extra burden on our resource as well as…

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The electricity crisis in the country has worsened as the power shortfall reached 6,500 megawatts (MW), ARY News reported on Saturday. According to sources, the power supply in the country remained at 19,500 MW against a demand of 26,000 MW. The duration of loadshedding has also increased across the country. The duration of loadshedding has reached up to 12 hours…

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