Month: June 2021

Ogra seeks Rs 4.20 per litre hike in petrol price

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The Oil and Gas Regulatory Authority (Ogra) has proposed an upward revision of Rs 4.20 in petrol price for the next 15 days from June 16 (Wednesday). According to details, the Ogra has moved a summary to the Petroleum Division for approval, seeking an increase in petrol prices by Rs 4.20 per litre and Rs3.50 per litre hike in diesel prices. It emerged that petroleum levy on petrol and diesel are expected to remain unchanged following the working on petroleum products for a new fortnight. Currently, a levy of Rs…

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Shanghai Electric begins major vaccination drive in Thar Block-1

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hanghai Electric, at the helm of a mega project of the China Pakistan Economic Corridor, has started a massive drive to vaccinate thousands of its Pakistani employees in Thar Block-1. According to a top official of Shanghai Electric, which is currently developing coal mines and a major power plant in Thar Block-1, more than 5000 employees who are associated with the CPEC projects are being vaccinated. “For Shanghai Electric, safety of our workers comes first,” commented Wang Xiaofan, Chairman of Sino Sindh Resources Private Limited (SSRL), an overseas subsidiary of…

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KP’s merged areas, energy, communication sectors derive major PSDP share

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Like other socio-economic sectors, the merged areas, energy, agriculture and communication sectors of Khyber Pakhtunkhwa have given major share from Public Sector Development Program (PSDP 2021-22) with huge allocation for under construction Mohmand, Kurram Tangi dams, Indus Highway and development of infrastructure in erstwhile Fata. According to the Federal Budget 2021-22 document, Rs 5,507 million have been allocated for construction of multifaceted Mohmand Dam having the capacity to generate 800 megawatt electricity and store over 1.2 million acres feet (MAF) water. Mohmand dam is being constructed upstream of River Swat…

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Economic recovery and growth

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The National Accounts Committee (NAC) came up with a GDP growth figure of 3.94% for FY21, which is based on provisional figures for the first nine months of the fiscal year. This news sparked debate between the government and opposition parties. The government is claiming that this achievement is the result of timely fiscal and monetary accommodation with the Covid-19 outbreak in Pakistan. In addition, the announcement and implementation of construction package played a significant role in bringing a V-shaped recovery. Even some ministers are of the opinion that the…

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Tax on electric cars slashed, tractors included in tax net in Punjab

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Punjab on Monday moved to check vehicular pollution, withdrawing proposed tax relief on old vehicles (major polluters) and slashing 75pc tax on electric vehicles to promote cleaner environment. However, it brought tractors’ trade under the tax net by replacing the word ‘motor car’ with ‘motor vehicle’ in its finance bill and triggered fears that this essential machine for agriculture will become more expensive and hurt farmers and farming. The decision brings other vehicular dealers in tax net as well. The bill also moved to rope in all those professional (doctors,…

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