The National Accounts Committee (NAC) came up with a GDP growth figure of 3.94% for FY21, which is based on provisional figures for the first nine months of the fiscal year. This news sparked debate between the government and opposition parties. The government is claiming that this achievement is the result of timely fiscal and monetary accommodation with the Covid-19…
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Punjab on Monday moved to check vehicular pollution, withdrawing proposed tax relief on old vehicles (major polluters) and slashing 75pc tax on electric vehicles to promote cleaner environment. However, it brought tractors’ trade under the tax net by replacing the word ‘motor car’ with ‘motor vehicle’ in its finance bill and triggered fears that this essential machine for agriculture will…
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The country’s all the five oil refineries have protested over imposition of duties and taxes on crude oil and violation of commitments by the government for incentives for upgrade and modernisation. They have asked the government to honour commitments it had made with the refining sector as part of the new policy for petroleum refining finalised recently and awaiting formal…
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WE have surplus generation capacity and we have frequent electricity shortages — particularly when the demand peaks in summers. Sounds like a paradox? Indeed, it does. The recent forced power cuts experienced by hapless consumers across the country were no surprise. People have suffered sudden blackouts of long duration before, and there is no guarantee these will not be repeated…
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The prices of all petroleum products are set to significantly go up on Tuesday owing to higher international prices and some adjustments in tax rates. Three different options are under consideration of the government. Based precisely on existing tax rates and oil import price, the ex-depot price of high-speed diesel (HSD) is estimated to go up by Rs5.58 per litre…
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In the latest ranking, Karachi has been placed on the list of 10 least liveable cities in the world. The Pakistan’s financial hub was ranked at 7th position while Bangladesh capital Dhaka was put at 4th. As per the 2021 edition of The Economist Intelligence Unit’s (EIU) Global Liveability Ranking, Damascus remains the world’s least liveable city. With an average…
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o-called “green” hydrogen production using onshore wind turbines could achieve price parity with fossil-based hydrogen by the year 2030, according to a white paper from Siemens Gamesa Renewable Energy. In a statement on Wednesday the firm — a major player in wind turbines — also said that green hydrogen produced using wind from the offshore sector could achieve price parity…
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Sindh Energy Minister Imtiaz Shaikh has blamed the K-Electric (KE) for power outages in the city, saying that load-shedding has agonised the lives of the people of Karachi. He stated this on Friday as he participated via video-link in a meeting chaired by the National Electric Power Regulatory Authority (Nepra) chairman and attended by the chief executive officers of various…
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The government has increased the allocation in the head of subsidy by 226.31 percent for various sectors for the next budgetary year, to Rs682 billion from Rs209 billion allocated for the outgoing fiscal. For the power sector, the allocation of subsidy has increased by 329.24 percent to Rs596 billion from Rs139.5 billion. Out of Rs596 billion, the amount of Rs245…
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Federal Minister for Energy Hammad Azhar on Friday shared that there has been zero forced load shedding in the country during the last 12 hours. Taking to Twitter to share the details on power supply in the country, Hammad Azhar said that 1500 megawatt electricity was added in the last 48 hours to the national grid while more would be…
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