In a significant move to enhance energy efficiency, the federal government has decided to replace 88 million old and inefficient fans across the country. This initiative aims to address the issue of high electricity consumption by outdated fans. The National Energy Efficiency and Conservation Authority (NEECA) has designed a scheme to replace these fans in the first phase. Under this…
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PESHAWAR: Khyber-Pakhtunkhwa (K-P) has made a significant advancement in water management by installing Indus Telemetry, an innovative system designed for real-time data acquisition of water flow in canals. The Indus Telemetry system, a sophisticated technological solution, automates the process of monitoring water flow, providing a significant upgrade to the province’s water management capabilities. This initiative, implemented by the International Water…
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ISLAMABAD: The current government continues the flawed policies of previous administrations, resulting in independent power producers (IPPs) receiving an annual windfall of over Rs2.8 billion in capacity payments from electricity consumers. As of March 2024, Pakistan’s total installed power generation capacity stood at 42,131 megawatts, with less than half being utilized. Consequently, regular bill-paying consumers are forced to cover 70%…
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ISLAMABAD: Finance Minister Muhammad Aurangzeb is set to present an Rs18 trillion federal budget for the fiscal year 2024-25 in the National Assembly today. Official sources indicate that the budget will emphasize fiscal consolidation to manage the budget deficit. Key objectives of the budget include addressing public issues, transforming the agriculture sector, promoting information technology (IT), boosting exports, fostering industrial…
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ISLAMABAD: Prime Minister Shehbaz Sharif has directed provincial governments to intensify efforts against power theft and reduce load shedding as temperatures rise. Chairing a review meeting on load shedding, power theft prevention, and energy sector reforms, the premier emphasized the need for effective complaint registration systems within distribution companies to address power outages promptly. “With the rising heat, load shedding…
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Tax breaks increase for the sixth consecutive year.Significant rise due to Rs1.338 trillion waiver on petroleum products.ISLAMABAD: In a challenging fiscal year, Pakistan witnessed its highest-ever increase in tax exemptions, rising by 73.24% to a record Rs3.9 trillion in FY24. The Pakistan Economic Survey 2023-24, unveiled by Finance Minister Muhammad Aurangzeb, indicated that the Federal Board of Revenue (FBR) provided…
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Diverse energy mix: Hydel, nuclear, renewable, and thermal sources.Shift towards indigenous and renewable energy sources.ISLAMABAD: As of March 2024, Pakistan’s total installed electricity capacity stood at 42,131 MW, with hydel, nuclear, renewable, and thermal sources contributing 25.4%, 8.4%, 6.8%, and 59.4%, respectively. The Economic Survey 2023-24 reveals a notable decline in the dominance of thermal power, indicating a strategic shift…
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Ginlong (Solis) Technologies, the world’s third largest PV inverter manufacturer, is showcasing its cutting-edge storage and inverter solutions at SNEC and Intersolar Europe this month – two of the world’s leading exhibitions for the solar industry. SNEC, scheduled June 13 – 15, and Intersolar, June 19 – 21, will provide Solis with a global platform to unveil their premium, all-scenario…
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KARACHI: The government is expected to introduce incentives to encourage the local assembly of solar panels in the budget for 2024-25. Pakistan Solar Association (PSA) Senior Vice-President Mohammad Zakir Ali, who was part of Prime Minister Shehbaz Sharif’s recent delegation to China, remarked, “I do not think the government will impose any new taxes or duties on solar panels, which…
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The government is set to present its first budget since its inauguration in March, facing stringent conditions imposed by the International Monetary Fund (IMF). Local economists predict the budget will result in heavy taxation and increased inflation. Negotiations between the finance ministry and the IMF are ongoing as the government grapples with the loaning agency’s tough demands. These include increasing…
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