Month: November 2020

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has said that the growing circular debt in the power sector is a continued threat for the government’s recent move of cut in power tariff for SMEs. FPCCI President Mian Anjum Nisar, in a written statement issued here, appreciated the Economic Coordination Committee (ECC) of the Cabinet to form a committee of all stakeholders to prepare a proposal on modalities for clearing the circular debt of around Rs1.6 trillion, saying it is a right step in the right direction. He…

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China can help in resolving the energy issues being faced by Pakistan and can provide muchdesired relief to the industrial, commercial and domestic sectors of the country, remarked Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) President SM Naveed. Speaking at the inauguration ceremony of Offline/ Online Pakistan China Industrial Expo 2020 on Friday, Naveed appreciated the Chinese businessmen working in Pakistan for putting up a remarkable show where companies of both countries showcased their potential on a wider scale. More than 1,000 participants from both countries attended the exhibition…

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The government has announced an incentive package for industrial consumers of electricity with the aim of reducing the cost of production and thus increasing industrial output, employment and exports. The industry has generally hailed it, although some suggestions for improvement have been made, and contradictions of small and medium enterprises (SMEs) vs large industries have surfaced, especially in the steel sector. The industrial sector’s electricity consumption is around 10% of the total consumption. Tariff concession may not result in a very large amount in absolute terms or may not result…

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Amid nascent positive economic signs in selective areas, a lag in the implementation of a few supportive initiatives by the government continues to create uncertainties among market players. On the positive side, large-scale manufacturing (LSM) has posted 4.8 per cent growth in the first quarter (July-September) of the current fiscal year. This is driven by textile, mineral and food sectors while selective items in the construction sector have also shown positive signs. That is why the government may like to extend the amnesty scheme for construction to June 2021. Except…

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The decision was announced by the Ministry of Finance on the recommendations of the Oil and Gas Regulatory Authority (Ogra). According to the decision, the ex-depot price of petrol will come down to Rs100.69 per litre from Rs102.40 — a reduction of Rs1.71 per liter or 1.67pc. The product is mostly used in private transport, small vehicles and two-wheelers. Likewise, the ex-depot price of high speed diesel was set at Rs101.43 per litre — down by Rs1.79 per litre (1.73pc), from its existing rate of Rs103.22. HSD is mostly used…

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