KARACHI: The Pakistan Business Council (PBC) has expressed serious concerns over certain budget proposals, fearing they will negatively impact the formal, tax-paying sector of the economy. The PBC criticized the government’s focus on significantly increasing the tax-to-GDP ratio without a corresponding reduction in government expenditure, arguing that it places an unfair burden on existing taxpayers. In a statement released on…
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Karachi The Sindh government, in its newly presented budget for the upcoming financial year 2024-25, has allocated a total of Rs 25 billion to fulfil one of the important election campaign promises of PPP Chairman Bilawal Bhutto Zardari. The promise is to provide free electricity to underprivileged power consumers in the country after coming into power. Sindh’s top authorities have…
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ISLAMABAD: Prime Minister Shehbaz Sharif has instructed the Power Division to formulate a comprehensive solution for resolving the longstanding receivables and payments between K-Electric (KE) and various government entities and departments. This directive came during a recent meeting addressing multiple power sector issues, sources told Business Recorder. The Power Division will work closely with the Cabinet Division and NEPRA to…
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PARIS: A staggering 2,000 children die each day due to health issues linked to air pollution, which has now become the second leading risk factor for early death globally, according to a recent report from the US-based Health Effects Institute. In 2021, air pollution contributed to 8.1 million deaths, approximately 12% of all fatalities, surpassing tobacco use and poor diet…
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We are excited to announce our participation in InterSolar Europe 2024, taking place in Munich, Germany. As a leading innovator in the solar energy sector, RedSolar is poised to make a significant impact at this premier event. Our dedicated team has been working tirelessly to bring you the latest advancements in solar technology, and we are eager to showcase our…
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Growatt, a global leading provider of distributed energy solutions, successfully concluded its exhibition at the SNEC PV Expo, held from June 13th to 15th in Shanghai, China. The event highlighted Growatt’s receipt of the Top Brand PV 2024 awards in the inverter and energy storage sectors from EUPD Research and showcased an extensive range of solutions for residential, commercial, off-grid,…
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ISLAMABAD: On payment of the first tranche of outstanding undisputed payables to IPPs in line with the revised contracts, revised terms have become effective, which will result in saving of at least Rs120 billion a year. These major revised terms include rupee based return instead of USD based maximum 17pc per annum in PKR fixed at Rs. 148 USD without…
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The Sindh government has introduced an initiative to provide interest-free loans to the middle class for installing solar systems. Sindh Energy Minister Syed Nasir Hussain Shah announced this while addressing the media at his residence, where he also extended Eid greetings and urged people to remember the martyrs. During his address, Minister Shah acknowledged the region’s various issues and highlighted…
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A new efficiency world record for converting sunlight into electricity has been set, in what researchers claim is a huge boost for renewable energy. Researchers at Longi, the world’s biggest solar panel manufacturer, achieved a 34.6 per cent power conversion efficiency using a tandem perovskite-silicon solar cell, beating the previous record by 0.7 per cent. The new record is also more than 7 per…
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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…
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