LAHORE: Renewable energy stakeholders have applauded the federal budget’s concessions on the import and local manufacturing of solar panels, urging the government to promptly release detailed information on these incentives. “Perhaps the government has recognized that renewable energy sources like solar and wind are the only sustainable solutions to mitigate the high costs associated with traditional energy sources like thermal…
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Budget 2024-25: Business and Industry Deem It ‘More IMF-Friendly’
KARACHI/ISLAMABAD/LAHORE: Businessmen and industrialists expressed dissatisfaction on Wednesday with the budgetary measures proposed for 2024-25, criticizing it as anti-industry and overly aligned with IMF directives. Trade and industry leaders have labeled the budget a burden on existing taxpayers, with no substantial efforts made to broaden the tax base or promote industrial production and commerce. During a press conference at the…
Read MoreGovt Targets Rs1.28 Trillion in Petroleum Development Levy Collection
ISLAMABAD: The federal government has set an ambitious target to collect Rs1.28 trillion through the petroleum levy for the fiscal year 2024-25, marking a 47.4% increase over the previous year’s goal. In the outgoing fiscal year, the government collected Rs960 billion from the petroleum levy, surpassing the original target of Rs869 billion. The upcoming fiscal year projects an additional Rs321…
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Power Sector Receives Major Share of Rs1.36 Trillion in Subsidies
ISLAMABAD: The federal government has significantly increased subsidies for the merged districts of former FATA in Khyber Pakhtunkhwa and enhanced food subsidies for the Gilgit-Baltistan region. In the upcoming federal budget for 2024-25, Rs86 billion has been allocated for power subsidy arrears in erstwhile FATA, with an additional Rs65 billion set aside for power subsidies. This marks a notable increase…
Read MoreCETC-Red Solar to Unveil Advanced Photovoltaic Innovations at SNEC 2024
CETC-Red Solar, a leading solar manufacturer in the photovoltaic industry, is set to showcase its cutting-edge smart photovoltaic cells and customized modules, flexible photovoltaic components, Turnkey solution and production lines, and comprehensive EPC services at the much-anticipated SNEC 2024 in Shanghai. Join us from June 13 to June 15, 2024, at Booth D790, Hall 3, located in the prestigious National…
Read MorePakistan Budget 2024-25: Solar Energy Gets a Boost
The aim is to diversify the energy mix and enhance sustainability, reducing the country’s reliance on traditional energy sources. This move is expected to boost the solar industry in Pakistan, creating new opportunities for investment and job creation.
Read MoreGovt to Replace 88m Inefficient Fans Under Energy Conservation Campaign
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…
Read MoreK-P Implements State-of-the-Art Water Management SystemIndus Telemetry Automates Monitoring of Canal Water Flow
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…
Read MoreIPPs Reap Rs2.8 Billion Annually Amid Flawed PoliciesConsumers Burdened with Heavy Charges Due to Inefficient Power Sector Management
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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