Month: May 2021

IMF’s demand to increase electricity tariff is unjustified: Finance Minister

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Federal Finance Minister Shaukat Tarin has said that it was unjustified for the International Monetary Fund to force Pakistan to increase its electricity tariff and that they would review the programme.    He criticized the IMF for setting conditions that in his opinion have been affecting Pakistan’s economy negatively. On the IMF instructions, Pakistan promised to increase taxes by a massive Rs1.272 trillion and jack up electricity rates by almost Rs4.97 per unit in the remaining three months of this current fiscal year. The IMF said it was necessary to…

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Government prioritises power projects

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The government has prioritised power projects, which also include strategic projects under the China-Pakistan Economic Corridor (CPEC) to execute the Indicative Generation Capacity Expansion Plan (IGCEP). Sources told The Express Tribune that the government will execute those power generation projects under the government-to-government arrangement that are listed under federal government’s international (bilateral or multilateral) commitments, if project financing agreements have been signed. In the second category are those committed projects that have obtained Letter of Support (LOS) as of December 2020 for private sector projects. In the third category federal…

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Non-bailable arrest warrants of co-accused in LNG case: NAB again fails to submit report before AC

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The National Accountability Bureau (NAB), on Monday again failed to submit a report before the Accountability Court regarding issuance of non-bailable arrest warrants of the co-accused staying abroad in the Liquefied Natural Gas (LNG) corruption case. The Accountability Court-II judge, Muhammad Azam Khan, while hearing the LNG case against against the former Prime Minister, Shahid Khaqan Abbasi, and others, adjourned hearing of the case till May 20 following the request of the Nation Accountability Bureau (NAB) prosecutor Usman Masood Mirza, to grant them time for submission of the report regarding…

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Why is Pakistan so slow to adopt to Electric Cars?

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When we think of EVs, we think of the future of the transportation system of the world. It is cool, and everyone wants it. However, when anyone sits around and analyses the feasibility of buying an Electric Vehicle (EV) in Pakistan, things are more complicated than they seem from the marketing videos. The incumbent government has been very vocal about climate change and thus has been very proactive towards inculcating electric vehicles in Pakistan’s transport system. In August last year, Pakistan unveiled a plan to boost the share of electric…

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Massive inflow of LPG through port, Taftan border continues

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Reduction in Petroleum Development Levy (PDL) and General Sales Tax (GST) on imported Liquefied Petroleum Gas (LPG) has resulted into massive inflow of LPG to the country through port and Taftan border without any check in quality and quantity. These revelations have been made by incumbent Managing Director (MD) of Oil and Gas Development Company Limited (OGDCL) in a letter to Secretary Petroleum Division titled as “Problems being faced by OGDCL and other domestic LPG Producers due to subsidized LPG imports”. Highlighting the problems being faced by OGDCL and other…

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