Month: August 2023

Cut in GST, withholding tax out of question: Govt links power bills relief with IMF nod

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Tax-dept

ISLAMABAD: The caretaker federal cabinet Tuesday decided to take the IMF on board on its decision to provide relief to power consumers against the inflated bills setting off countrywide demonstrations. The cabinet met here with Prime Minister Anwaar-ul-Haq Kakar in the chair. After attending the cabinet meeting, caretaker Information Minister Murtaza Solangi said the government would announce the decision after taking the IMF on board within the next few hours. “Caretaker Finance Minister Dr. Shamshad Akhtar is in contact with the IMF officials in this connection,” said a statement issued…

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Experts call for sustained energy policies to provide cheap, reliable electricity

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power

KARACHI: Pakistan needs to adopt sustained and consistent energy policies to provide cheap and reliable electricity to its people, a panel of experts and stakeholders said on Tuesday. The panel discussion, organized by the Policy Research Institute for Equitable Development (PRIED), focused on the challenges and opportunities of using solar power in high-loss feeder areas, where load shedding and electricity theft are rampant. Abu Bakar Ahmed, secretary of Sindh government’s energy department, said that the country had failed to do long-term planning in the energy sector and had relied on…

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Power sector debt: FPCCI urges government to negotiate with private power producers

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electricity price increased

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged the government to prepare a better strategy for dealing with the circular debt of the power sector, instead of excessively burdening the consumers. The FPCCI on Tuesday said that the government should negotiate with the power plants to increase the debt payment period to reduce the capacity component in the power tariff. FPCCI President Irfan Iqbal Sheikh said that Pakistani households and businesses were facing mounting power prices, and NEPRA’s FY24 price forecast for power purchase revealed…

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OGDCL Workshop on Energy Explores Latest Trends, Future Prospects, and Collaboration Avenues

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OGDCL

ISLAMABAD, August 29, 2023: The Oil and Gas Development Company Limited (OGDCL) on Tuesday hosted a dynamic workshop on energy in collaboration with the Lahore University of Management Sciences (LUMS). The workshop, held at the OGDCL headquarters, provided a platform for industry experts and thought leaders to convene and deliberate on the current landscape, future prospects, and collaborative initiatives within the energy sector. The workshop was graced by the presence of Mr. Ahmed Hayat Lak, the Managing Director of OGDCL, alongside all Executive Directors of OGDCL, and other senior officers.…

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Renewables Competitiveness Accelerates, Despite Cost Inflation

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Global-power

Global power sector saved fuel costs of USD 520 billion last year thanks to renewables, says new IRENA report. Abu Dhabi, United Arab Emirates, 29 August 2023 – The fossil fuel price crisis has accelerated the competitiveness of renewable power. Around 86 per cent (187 gigawatts) of all the newly commissioned renewable capacity in 2022 had lower costs than fossil fuel-fired electricity. Renewable Power Generation Costs in 2022, published by the International Renewable Energy Agency (IRENA) today shows that the renewable power added in 2022 reduced the fuel bill of…

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