Month: May 2021

Ogra cuts LPG price by Rs12.38

Admin

The Oil and Gas Regulatory Authority has reduced the price of liquefied petroleum gas by Rs12.38 per kilogram, it announced Friday. A kilogram of LPG will now cost Rs133.25, according to a notification issued by Ogra.The price of an 11.8kg domestic cylinder has been reduced from Rs1,718 to Rs1,575. Related: Pakistan petroleum prices to remain unchanged for next 15 days. The price of a commercial cylinder has gone down to Rs6,055 from Rs6,612, it read. The revised prices will be effective from May 1.

Read More

Jul-Mar period: Budget deficit widens to Rs1.652trn

Admin

 Pakistan’s budget deficit has widened to Rs1.652 trillion in the first three quarters of the current fiscal year (July-March 2021), despite Rs413 billion budget surplus by the provinces, according to the Finance Ministry. A summary of consolidated federal and provincial fiscal operations for July-March 2021 uploaded by the Finance Ministry on its website, revealed that fiscal deficit as percentage of GDP increased to 3.6 percent of the GDP following total expenditure of Rs6.644 trillion against the total revenue of Rs4.992 trillion. Primary balance, however, was surplus Rs451.812 billion. The government…

Read More

Middle East Energy 2021′ Sheds Extensive Light On UAE’s Great Strides In Transition To Clean Energy

Admin

DUBAI, (UrduPoint / Pakistan Point News / WAM – 05th May, 2021) Renewable & Clean Energy will debut as the theme for middle East Energy’s inaugural virtual focus week on 17 May 2021, as research from Informa Markets revealed 83 GW of renewable and clean energy capacity, mainly solar and wind power, is planned across the Middle East and North Africa (MENA) region within the next 20 years, and more than AED55 billion of solar power projects are expected to become operational by 2026. The figures were highlighted as the…

Read More

ECC approves payment of the first installment to IPPs

Admin
IPP-CAPACITY-PAYMENTS

The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved payment of Rs90 billion to 35 independent power producers (IPPs) in addition to  giving K-Electric (KE) a last chance to settle Rs212bn payments and ink an agreement for additional power intake from the national grid on timely payments. The ECC meeting, presided over by Minister for Finance and Revenue Shaukat Tarin, also approved lowering taxes on Chinese investors of hydropower projects in Azad Jammu & Kashmir (AJK), exempting the import of oxygen and related equipment from duties and taxes…

Read More

Pakistan won’t shun IMF, but wants space: Tarin

Admin

Finance Minister Shaukat Tarin on Wednesday said Pakistan will not be exiting the International Monetary Fund’s (IMF) programme, whose “strict conditions” also come with a “political cost”. Addressing a news conference here, Tarin said while the country would not leave the programme, the government would seek “space” from the international financial institution given the current situation of Covid-19, state-run Radio Pakistan reported. He said: “We have already held some good talks with the IMF and the World Bank.” He also discussed the way forward to take the economy towards growth.…

Read More