Author: Admin

High Energy Costs, Interest Rates Choking Investment, Warns FPCCI

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KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged the federal government to declare an “industrial emergency,” warning that Pakistan’s manufacturing sector is facing a systemic and potentially irreversible decline due to uncompetitive energy tariffs, elevated interest rates and a restrictive tax regime. FPCCI President Atif Ikram Sheikh told The Express Tribune that Pakistani industries are operating at a severe disadvantage compared to regional competitors, largely because of soaring electricity costs. He noted that industries in Pakistan pay around 13 cents per unit, while neighbouring countries…

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Karachi’s Gul Plaza Fire Claims 14 Lives; Search Continues for Dozens Missing

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KARACHI: The death toll from the devastating fire at Gul Plaza on M.A. Jinnah Road has risen to 14, after rescue teams recovered eight more bodies during an ongoing search operation on Monday morning. The blaze, which broke out late Saturday night at the commercial complex in Karachi, was finally extinguished after more than 24 hours on Sunday. Authorities said a search operation was launched amid fears that more people could be trapped inside. While an electrical short circuit is suspected, officials said the exact cause of the fire is…

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SHC Declares Backdated CPP Gas Levy Unlawful

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KARACHI: The Sindh High Court (SHC) has ruled that the retrospective collection of a levy on gas supply to industrial captive power plants (CPPs) is unlawful, declaring such action ultra vires the relevant law. A two-member bench comprising Justice Adnan Iqbal Chaudhry and Justice Muhammad Jaffer Raza held that the levy could not take effect immediately upon the promulgation of the Off-Grid (Captive Power Plants) Levy Ordinance, 2025, as the ordinance itself did not determine the rate of the levy. The bench observed that under the Off-Grid Power Plants Levy…

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Two New Security Check Posts Approved for OGDCL Nashpa Plant

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New-OGDCL

PESHAWAR: The district administration of Karak has decided to establish two new security check posts at the OGDCL oil and gas plant in Nashpa to enhance protection of the strategically important facility. The decision was taken during a high-level meeting chaired by Additional Deputy Commissioner (General) Karak, Sahibzada Samiullah, which reviewed administrative, security, and technical matters concerning the Nashpa plant. The meeting was attended by the OGDCL regional coordinator, field manager, and security in-charge of the Nashpa plant, the Sub-Divisional Police Officer (SDPO) Banda Daud Shah, tehsildars of Karak and…

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PPEPCA Urges Govt Intervention to Clear Rs1.55trn Overdue Payments to E&P Firms

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ISLAMABAD: The Pakistan Petroleum Exploration and Production Companies Association (PPEPCA) has sought the Ministry of Energy’s urgent intervention to resolve the issue of overdue receivables amounting to Rs 1.547 trillion owed to exploration and production (E&P) companies by Sui gas utilities, official sources told Business Recorder. In a letter addressed to the federal minister for energy, the secretary, and other senior officials, PPEPCA referred to its earlier correspondence dated August 22, 2025, highlighting the continued default by Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company Limited (SSGCL)…

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