Day: April 9, 2021

A year after the COVID-19 pandemic, the construction sector has shown robust growth and contributed to the revival of economic activity in Pakistan. The housing and real estate activity has taken off on the back of an incentive package and low-cost housing projects announced by the government. Till October last year, a total of 127 projects had been registered at an estimated cost of Rs.63 billion to avail the scheme. In addition, a further 114 projects worth around Rs.109 billion were also under the process of being registered. Economic revival…

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The Safety Day was observed all over the country on Thursday to highlight the issues of Electricity/Wapda workers. The Safety Day was observed under the aegis of All-Pakistan Wapda Hydro Electric Workers Union CBA for the safety of field staff working on electricity lines, grid stations and power houses. Recently, two linemen died of electrocution on Faisalabad Road sub division and Phool Nagar sub division while two members of the line staff were burnt in Sukkur and Larkana while working on 11KV line while some of the employees had become…

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ISLAMABAD: The federal government has assured the International Monetary Fund (IMF) that it will further increase power base tariff by Rs 1.39 per unit from June 1, 2021 in addition to quarterly and monthly adjustments while acknowledging that adjustments of energy tariffs brought them closer to cost recovery. This was disclosed in the second to fifth staff reviews under the extended fund facility arrangement and request for re-phasing of access uploaded on the IMF website Thursday. To strike a balance between achieving cost recovery and softening the social and economic…

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The Punjab government has decided to buy electricity from the private sector.According to the official documents, the provincial government will purchase electricity, produced from solar power, from the private firms which are currently generating 1,300 megawatts of electricity. A grid company would be set up for the distribution and transmission of the electricity after its purchase. Punjab Grid Company would purchase electricity, and it would be responsible for transmitting it to the consumers and billing. Documents tell that due to the power generated from solar energy, not only the burden…

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LAHORE: The developed economies are exhausting their resources to minimise the impact of Covid-19 on their citizens, but they have little cash for poor nations who have to cope with Covid-19 impact on their own. At the same time the global commodity rates are on the rise. Steel and other metals prices are increasing. Global food prices registered rise for the tenth straight month. All this is happening at a time when our food import bill has reached historic high. Three years back we had a competent -though corrupt- bureaucracy.…

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