KARACHI: In continuation of its efforts to improve the country’s business climate, the Special Investment Facilitation Council (SIFC) has asked Karachi’s business community to exploit huge investment potential in agriculture, livestock, information technology, mining and energy sectors. At a meeting held at Corp Commander Office V on Tuesday, Special Assistant to Caretaker Prime Minister Dr Jehanzaib Khan and the SIFC’s…
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ISLAMABAD: Targeted power subsidies for disadvantaged socioeconomic classes using around 200 units of electricity were not discouraged or curtailed by the government or the International Monetary Fund (IMF), Caretaker PM Anwaarul Haq Kakar said. In an interview with Dawn News English Spotlight programme, broadcast on Tuesday, the caretaker PM was asked about the interim government’s relief proposals to the Fund and their…
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ISLAMABAD: After the rejection of the first one, the caretaker government has sent a fresh proposal to the International Monetary Fund (IMF) that the additional money allocated for the independent power producers (IPPs) could be adjusted to provide relief to the consumers, who were protesting against the exorbitant rise in their electricity bills. Finance ministry sources said under the new…
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LAHORE: The Pakistan Solar Association (PSA) has issued a resounding call to action, urging authorities and stakeholders to maintain their support for net metering as a critical element of the nation’s sustainable energy future. Net metering stands as a cornerstone in the shift toward clean and affordable energy, aligning Pakistan with the global transition to solar power. The PSA has…
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KARACHI: Directorate of Post Clearance Audit (South), Karachi has unearthed a complex web of deceit and fiscal fraud involving fictitious solar panel companies, which reportedly transferred Rs 73 billion out of Pakistan. According to details, the Directorate during the sectoral audit of solar panel imports assigned by the Federal Board of Revenue (FBR), identified significant irregularities and violations in the…
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ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has kept Rs4.24 and Rs2.62 per litre exchange adjustment rate for Pakistan State Oil (PSO) on both petroleum products – petrol and high-speed diesel (HSD)- for the first half of September. The same rate was applicable during the second half of August 2023. The interim government had raised the petrol price by…
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ISLAMABAD: Pakistan is likely to again float proposals to Chinese government for renegotiation on contracts of power projects established under CPEC on the pattern of other IPPs or to purchase 1200-MW electricity from Pakistan for onward supply to power deficient Afghanistan. This idea is under active consideration at the highest level due to rising exceptional capacity payments, which has choked…
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An appeal for a price hike in electricity rates in Karachi has been formally submitted, with a request for an increment of 10 rupees and 32 paise per unit. The application, directed to Nepra, encompasses three separate quarterly adjustments for the fiscal year 2022-23.In the submission presented by the government to Nepra, the initial quarterly adjustment for the period of…
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ISLAMABAD: Caretaker Prime Minister Anwaar ul Haq Kakar has asked the power sector to take immediate action against electricity defaulters in collaboration with the provinces and law enforcement agencies. A review meeting of the power sector was presided over by the caretaker prime minister which was attended by Federal Minister for Power, Muhammad Ali, Adviser to the Prime Minister, Ahad…
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Islamabad. Ambassador of the Islamic Republic of Iran to Pakistan H.E. Dr. Reza Amiri Moghaddam called on Caretaker Federal Minister for Power and Petroleum Muhammad Ali today in Islamabad. Both sides discussed areas of mutual interest and promotion of brotherly relations between two countries.The Energy minister welcomed the Iranian ambassador and expressed his resolve for further strengthening the ties. Ambassador…
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