Year: 2020

Cabinet to take up proposals on mining reforms soon

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There is also a proposal to develop a comprehensive and broad-based mineral index for determination of levies and taxes on the lines of recently launched National Coal Index. The objective of these changes is to attract more investments in the sector, including from foreign players. A clutch of proposals to reform the rules governing non-coal minerals will likely come under the consideration of the Cabinet soon. According to a draft Cabinet note prepared by the mines ministry, introduction of mining licences that offers with certainty tenure, ranging from the exploration…

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Russia, Pakistan initiate crucial talks on NSGPP from today

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ISLAMABAD: Both Russia and Pakistan are going to initiate the three days crucial talks from today (Monday) here in Islamabad on the much trumpeted North South Gas Pipeline Project (NSGPP) that has already been delayed by five years. Both the countries want to make this project a touchstone for paving more strategic relationships not only in economic, energy and industrial sectors but also in the defence sector. Russian troops are already in Pakistan for joint exercises. In the past, Russia helped Pakistan build Pakistan Steel Mills (PSM), and country’s flagship…

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Rising circular debt a threat for govt move of power tariff cut for SMEs

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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 Pakistan resolve energy woes

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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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Scope of expanding power tariff incentives

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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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