ISLAMABAD: The Special Investment Facilitation Council (SIFC) has directed the Ministry of Finance to urgently obtain approval from the International Monetary Fund (IMF) for the imposition of General Sales Tax (GST) on petroleum products — a key measure tied to unlocking \$6 billion in refinery upgrade investments. Despite earlier commitments, the proposed 5% GST on petroleum was not included in the Finance Bill 2025, raising alarms in the oil industry and stalling long-term planning under the Pakistan Oil Refining Policy for Upgradation of Existing Refineries (2023). Industry stakeholders, particularly the…
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Govt Unveils NEV Policy 2025–30 with Rs9bn Subsidy for E-Bikes, Rickshaws
ISLAMABAD: The federal government on Thursday launched the National Electric Vehicle (NEV) Policy 2025–30, aiming to revolutionise Pakistan’s transport sector through clean energy, industrial growth, and environmental sustainability. The policy sets an ambitious target: 30% of all new vehicle sales to be electric by 2030. This shift is expected to save 2.07 billion litres of fuel annually, equivalent to nearly \$1 billion in foreign exchange, while also reducing carbon emissions by 4.5 million tonnes and cutting healthcare costs by \$405 million each year. As part of its implementation, the government…
Read MorePrivatisation Push Gains Momentum: Advisers to be Appointed for Four Power Discos and Two Generation Plants
ISLAMABAD: In a key move to advance power sector reforms, the Privatisation Commission has initiated the process of appointing financial advisers for four state-owned electricity distribution companies (Discos) and two major power generation plants, marking a critical step towards the government’s broader privatisation agenda. At a meeting chaired by Adviser to the Prime Minister on Privatisation, Muhammad Ali, the Privatisation Commission Board approved the launch of adviser selection for Hyderabad Electric Supply Company (Hesco), Sukkur Electric Power Company (Sepco), Peshawar Electric Supply Company (Pesco), and Hazara Electric Supply Company (Hazeco).…
Read MoreSindh is the only province to have completed 1,450 development schemes, Nasir Shah
We oppose the federal tax on solar systems, Nasir Shah KARACHI (): Sindh Minister for Energy, Development, and Planning Syed Nasir Hussain Shah stated that Sindh is the only province that has completed 1,450 development schemes. He criticized the federal government for failing to allocate any major development project for Karachi since 2013. In contrast, he noted that Mustafa Kamal himself acknowledged that Asif Ali Zardari contributed the highest amount for Karachi’s development, which is now part of the city’s historical record. He emphasized that while Karachi makes a major…
Read MoreThe Latest: Israel threatens Iran’s supreme leader as Iranian strikes wound over 200
Iranian missiles hit a major hospital in southern Israel and struck residential buildings in Tel Aviv on Thursday, wounding 240 people and causing extensive damage. Israeli Defense Minister Israel Katz blamed Iran’s Supreme Leader Ayatollah Ali Khamenei and said the military “has been instructed and knows that in order to achieve all of its goals, this man absolutely should not continue to exist.” Israel, meanwhile, carried out strikes on Iran’s Arak heavy water reactor, its latest attack on Iran’s sprawling nuclear program. Iranian state television said there was “no radiation…
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