KARACHI: The Karachi Chamber of Commerce & Industry (KCCI), while identifying several anomalies in the Federal Budget 2024, highlighted that the Budget appears to have been prepared in the standard template of IMF, disappointing both the business community and working classes of Pakistan. Obviously, the limited fiscal space and debt obligations left little room for the Finance Ministry and FBR…
Read More
Karachi– Sindh Chief Minister Syed Murad Ali Shah chaired a crucial meeting between Sindh Transmission and Dispatch Company (STDC) and the private partner Gul Ahmed Group. Gul Ahmed is setting up a 100 MW power plant in Jhimpir. STDC will lay a 60-kilometer transmission line from Jhimpir to the Landhi Industrial Area. Provincial Energy Minister Nasir Shah emphasized the significance…
Read More
ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has dismissed a proposal from electricity distribution companies (Discos) to extend the period for issuing detection bills under the Consumer Service Manual (CSM). NEPRA decided to retain the current two billing cycle limit for supplementary bills in cases of slow or defective metering installations. Gujranwala Electric Power Company (GEPCO) had filed a…
Read More
ISLAMABAD: In a significant move to boost local production and exports, Prime Minister Shehbaz Sharif on Friday approved a substantial reduction of Rs10.69 per unit in the electricity tariff for the industrial sector. This decision lowers the new electricity price for industrial and export sectors to Rs34.99 per unit, following a recommendation by the National Electric Power Regulatory Authority (NEPRA).…
Read More
ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) on Friday announced a 20% increase in the national power tariff, aimed at securing approximately Rs3.8 trillion in funding for the 10 ex-WAPDA electricity distribution companies (Discos) for the fiscal year 2024-25. The new tariff, which will come into effect from July 1 after a formal government notification, raises the national average…
Read More
ISLAMABAD: During the fiscal year 2023-24, at least 38 government departments exceeded their allocated budgets, necessitating additional funds through supplementary and technical grants, according to the Finance Division’s details of current expenditure. Key Departments Exceeding Allocations: Power Division: Spent Rs769.7 billion against an allocation of Rs450.5 billion, requiring an additional Rs319.1 billion.Defence Services: Allocated Rs1.8 trillion, but expenditures reached Rs1.835…
Read More
KARACHI: The Sindh government has announced a substantial development outlay of Rs959.1 billion for the fiscal year 2024-25, marking a 30.5% increase from the current year’s Rs735 billion. In his budget speech, Chief Minister Syed Murad Ali Shah highlighted that the Annual Development Programme (ADP) would focus on the completion of ongoing projects from the past decade, with no new…
Read More
