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Month: May 2024

Mr. Mohammed Rajpar Awarded Commander of the Order of the Crown by Belgian Ambassador

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General-Shipping

In a recent ceremony, Mr. Mohammed Rajpar, Managing Director of General Shipping Agencies (Pvt) Ltd, and Chief Executive of the Pakistan Belgium Luxembourg Business Forum, was conferred with the prestigious Commander of the Order of the Crown. This high civilian honor, bestowed by His Excellency Charles Delogne, the Belgian Ambassador to Pakistan, recognizes Mr. Rajpar’s dedication to nurturing business and…

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AGP Uncovers Major Irregularities in Oil and Gas Sector

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oil-discovery

ISLAMABAD: The Auditor General of Pakistan (AGP) has unearthed significant policy deviations and inefficiencies by the Director General Petroleum Concession (DGPC) in managing oil and gas exploration companies, leading to substantial losses for the national exchequer. An audit revealed that gas production dropped from 4,047.95 million cubic feet per day (mmcfd) to 3,597.36 mmcfd, and crude oil production fell from…

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PM Forms Committee to Evaluate Additional Utility-Scale Renewable Energy Projects

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solar-panel

ISLAMABAD: Prime Minister Shehbaz Sharif has established a committee to assess the benefits of additional utility-scale renewable energy projects in the public sector. According to sources, the committee will independently evaluate the technical, commercial, and economic parameters of integrating additional solar capacity into the power system, as reported by Business Recorder. The committee comprises the following members: Musadik Malik, Minister…

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Sharjeel Memon Criticizes K-Electric Over Inflated Bills and Power Outages

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K-Electric

KARACHI: Sindh Information Minister Sharjeel Inam Memon harshly criticized K-Electric (KE) on Monday for issuing inflated bills to consumers and causing prolonged power outages across Karachi. In his statement, Memon referred to KE as an “uncontrolled horse” and called for an audit of the company’s balance sheet to determine its profit margins. He pointed out that under an agreement, KE…

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KMC to Shift Street Lights on 106 Roads to Solar Energy

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solar-energy

KARACHI: In response to rising electricity tariffs, the Karachi Metropolitan Corporation (KMC) has announced plans to install solar-powered street lights on major roads across the city. This initiative will be carried out under the World Bank-funded Competitive & Liveable City of Karachi (CLICK) project, as stated by Mayor Barrister Murtaza Wahab during a meeting at his office on Monday. The…

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Budget 2024-25: Govt Considers Revoking Tax Waivers for Wealthy

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Budget-2024

ISLAMABAD: The government is contemplating the withdrawal of tax concessions that disproportionately benefit high-earning individuals, a proposal likely to impact the wealthy while sparing the middle class, Dawn learned on Monday. The International Monetary Fund (IMF) has suggested that the government treat salaried employees’ incomes similarly to non-salaried individuals’ incomes as personal income. However, the Federal Board of Revenue (FBR)…

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Seminar on net metering, distributed generation policies Well-off power consumers having rooftop solar systems be permitted to donate excess electricity to charitable causes in Pakistan

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Hopewind-Group

Karachi: Well-off consumers with rooftop solar systems should have the opportunity to donate excess clean energy to charitable causes, benefiting deserving segments of society. Moin M Fudda, former managing director of the Karachi Stock Exchange and ex-chairman of Central Depository Company of Pakistan, suggested this to the government regarding the potential revision in net metering policy in the country. Fudda,…

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Seminar on net metering, distributed generation policies

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Well-off power consumers having rooftop solar systems be permitted to donate excess electricity to charitable causes in Pakistan Karachi: Well-off consumers with rooftop solar systems should have the opportunity to donate excess clean energy to charitable causes, benefiting deserving segments of society. Moin M Fudda, former managing director of the Karachi Stock Exchange and ex-chairman of Central Depository Company of…

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Malaysia to cut diesel subsidies, saving $852m annually

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crude-oil

KUALA LUMPUR: Malaysia will begin cutting fuel subsidies to bolster its fiscal position starting with diesel, a move that will save about 4 billion ringgit ($852 million) annually, Prime Minister Anwar Ibrahim said on Tuesday. Anwar has repeatedly vowed to shift away from blanket subsidies to a targeted system that mainly aids low-income groups. Malaysia subsidises fuel, cooking oil, and…

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Previous flawed decisions hampering improvement in power sector?

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CPEC-IPPs

ISLAMABAD: Pakistan’s power sector has shown little, if any, sign of improvement in decades due to the irreversibility of past flawed decisions including contracts signed under the umbrella of the China Pakistan Economic Corridor (CPEC) that favour the Independent Power Producers (IPPs), coupled with the policy of net metering allowed for solarisation thereby overburdening the remaining consumers through ever rising…

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