Year: 2020

Relief in power tariff to large industry: SMEs to be financed through Covid-19 Fund

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ISLAMABAD: The industrial package with discount in power tariff by 25-50 percent announced here on Tuesday by Prime Minister Imran Khan will be financed from the Covid-19 Fund. The electric power tariff on incremental consumption of electricity by large scale manufacturing industry has been reduced by 25 percent and 50 percent for medium enterprises (SMEs) from November 1, 2020. More importantly, the peak hour tariff has also been scratched. “We have estimated the loss in revenue in the next eight months at about Rs 25-30 billion, which will be funded…

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IATA: Demand for international travel continued to decline by 88.8% in September

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In its latest analysis of air traffic, the union said that domestic demand decreased in September by 43.3% compared to the previous year, an improvement from a 50.7% decline in August compared to 2019, capacity decreased by 33.3% and load factor decreased by 12.4 percentage points to 69.9%. In turn, IATA Director General and CEO Alexander de Juniac said that although domestic markets are performing better, this is primarily due to improvements in China and Russia. He explained that international passenger markets witnessed a collapse in European airline demand in September…

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Steel manufacturers laud PM for relief in power tariff for industries

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LAHORE: The Pakistan Association of Large Steel Producers (PALSP) on Wednesday welcomed the Pakistan Tehreek-e-Insaf (PTI) government’s step to reduce power tariffs for Small & Medium Enterprises (SMEs) and industries. In a letter written to Prime Minister Imran Khan, PALSP Secretary General Syed Wajid Iqbal Bukhari said the government’s decision “is an unprecedented step towards improving the country’s economy and reducing inflation”.  Bukhari, however, added that there were still two major concerns that needed to be addressed and fine-tuned for the betterment of the economy.  He said that the classification of…

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Redesigning power sector

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The tariff regime of public utilities has completely unnerved the people of Pakistan and despite a stupendous increase in utility bills, it appears that further increases are expected. If such a thing happens then the majority of the people will completely lose their ability to pay. The situation is critical as IMF is breathing down the neck and is insisting on further increase in tariffs. The choice is hazardous as the political dispensation is already pushed far enough and may not be able to withstand another wave of inflation that…

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PHMA welcomes cut in power tariff for small and medium enterprises

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The Pakistan Hosiery Manufacturers and Exporters Association has welcomed the cut in power tariff for small and medium enterprises and the omitting of peak-hour charges to encourage manufacturing. They added that the three-year relief package will boost the exports and enhance the competitiveness of the local industry. Zonal chairman of PHMA, Faisal Mehboob Sheikh, and its chief coordinator, Adil Butt, observed that the Industrial Energy Package announced by the prime minister would boost productivity, lower costs and generate employment. “Elimination of peak hours from electricity tariff of all industries, 50…

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