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Day: February 3, 2024

Solar Scandal Unveiled: Central Suspect Nabbed in 73 Billion Rupees Tax Evasion Drama at Karachi Court

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FBR-Solar

Karachi: In a riveting turn of events, a central figure in the solar panel import scandal, defrauding taxes amounting to a staggering 73 billion rupees, was apprehended in a dramatic fashion at the Customs Court in Karachi. The suspect, identified as Rabb Nawaz, orchestrated a daring evasion operation, hiding within the court premises for several hours before finally being captured.Despite…

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Ginlong (Solis) Earns High Ranking in 2023 Inverter Bankability Survey

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2023-Inverter

London, UK – January, 2024: In a significant development for the global solar industry, Ginlong (Solis) proudly announces its notable position in the 2023 BloombergNEF (BNEF) Inverter Bankability Survey. The survey, engaging diverse industry stakeholders such as banks, solar engineering contractors, and technical advisers, sheds light on the solar inverter bankability landscape. Ginlong (Solis) stands recognized for its bankability, a…

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Descon, IFC sign MoU

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Descon-IFC

LAHORE: Descon, a leading engineering and construction company in Pakistan, and the International Finance Corporation (IFC) have signed a memorandum of understanding (MoU) to address the significant postharvest losses of wheat, rice, and maize in the country. The MoU, signed under Descon’s Agri Business Line, aims to reduce the annual postharvest losses of essential grains in Pakistan, which amount to…

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Discos to charge Rs4.567/unit extra in February

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power-e-unit

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) granted approval on Friday for the state-run power distribution companies (Discos) to levy an extra Rs 4.567 per unit on the bills of power customers for February 2024. The additional charges were sanctioned by the regulator in light of fuel charges adjustment (FCA) of December 2023. This decision is expected to impose…

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Nepra too concerned about rising tariff?

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Nepra-KE-1

ISLAMABAD: National Electric Power Regulatory Authority (NEPRA) acknowledged that amid the historically highest inflation in the country, the extraordinary increase in the price of electricity has badly disrupted life of an ordinary man. The Power Regulator in its State of Industry (SIR) 2023 report explained the reasons for the power sector’s dismal performance during the year, starting from government’s action…

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Elections 2024: Parties race to woo key youth voters

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Elections-2024

Voters age 18-35 make up 45% of total electorate of nearly 130m Streets are festooned with fluttering party flags, posters, banners and life-size portraits of candidates across Karachi in the run-up to the February 8 crucial national vote to elect a new government for a five-year term. Through social media and election rallies, political parties are busy in last-ditch efforts…

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PM gives green light for PARCO MD hiring

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Parco-board

Summary sent to cabinet for formal approval of MD’s appointment ISLAMABAD: Caretaker Prime Minister Anwaarul Haq Kakar has given the green light to appoint Irteza Qureshi as the new regular managing director of Pak Arab Refinery Limited (Parco). He is currently working as the deputy managing director (DMD). According to sources, eight potential candidates had been shortlisted during the first…

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Nepra seeks Discos’ overhaul to tackle electricity challenges

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NEPRA

• Releases damning State of Industry Report, asks govt to end cross-subsidy, taxes within tariff• Criticises revenue-based loadshedding ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has asked the government to abolish cross-subsidies and multiple taxes within electricity tariffs. It also urged the government to start breaking up distribution companies and introduce private sector competition down to the feeder level…

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