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Day: September 3, 2021

CPEC to play pivotal role in boosting development, reviving economy of Pakistan: Pakistani official

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The China-Pakistan Economic Corridor (CPEC), a flagship project of the China-proposed Belt and Road Initiative (BRI), is one of the most important projects for the economic revival of Pakistan, said Khalid Mansoor, special assistant to the Pakistani Prime Minister on CPEC affairs. “CPEC’s phase two will be developing an industrial hub in the country, providing many opportunities for local and…

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CNG stations in jeopardy due to restricted gas supply

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Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed concerns over the ever-increasing and unsustainable losses to CNG stations in Sindh due to government policies, RLNG-linked CNG pricing regime, gas load shedding, and favouritism in supplying indigenous gas. FPCCI President Mian Nasser Hyatt Maggo, while addressing media on Thursday expressed serious concerns when CNG associations’ leadership informed him…

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Methodology for strategic projects: PD asked to consult provinces

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The Cabinet Committee on Energy (CCOE) has directed Power Division to develop methodology and criteria for strategic projects in consultation with the provinces under the National Electricity Plan within two months, official sources told Business Recorder. The Committee which approved Indicative Generation Capacity Expansion Plan on August 26, 2021, has not given any decision on category-III RE projects and directed…

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Ministry settles decade-old deemed duty issue

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The Petroleum Division has settled over a decade-old controversy about deemed duty collected by refineries, saying that they have invested Rs200 billion in projects. The ministry said that they had collected Rs200 billion and invested the same amount in their projects. The deemed duty collection has been a controversial subject for the refineries. Critics have said that they received billions…

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Devaluation drives up debt

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A steep fall in the value of Pakistani rupee against foreign currencies since July 2018 caused an addition of Rs2.9 trillion or one-fifth to the public debt during the past three years, the Ministry of Finance said on Thursday. The official reaction to media reports on the record surge in public debt, based on State Bank of Pakistan’s debt bulletin,…

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Nepra reserves judgement on Rs1.26 per unit increase for KE

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The National Electric Power Regulatory Authority (Nepra) on Thursday reserved its judgement about Rs1.26 per unit additional charge to consumers on account of monthly fuel price adjustment and quarterly adjustment for April-June 2021. At a public hearing presided over by Nepra chairman Tauseef H Farooqui, the regulator took up two separate petitions of K-Electric (KE) for additional charge to consumers…

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