Month: September 2023

Solar panel case: Further probe under way to uncover ‘startling’ facts

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solarisation-project

ISLAMABAD: Further investigation is under way to uncover additional information and the potential involvement of other entities in the solar panel sector following the detection of overinvoicing of Rs69.5 billion in imports of solar from 2017 to 2022. An official in the Finance Ministry, when asked, said that as per the Federal Board of Revenue (FBR), further investigation is currently under way to uncover additional information and potential involvement of other entities in the solar panel. He further stated that solar panels have emerged as a high-risk item over the…

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Breaking nexus with electricity thieves: Transfers of Discos’ operational staff on the cards

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power-subsidy

ISLAMABAD: The Power Division has decided to transfer operational staff of power Distribution Companies (Discos) from one circle to other another circle to break their collusion with electricity thieves, official sources told Business Recorder. “Transfer of operational staff of Discos, SDOs, line superintendents and meter readers is on the cards and no political influence will be accepted in this regard,” the sources added. Areas in Mardan (KPK) where theft is very high will not get electricity from October 1, 2023 and the same treatment is expected in Sindh and elsewhere. ‘Mafias…

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Hopewind plans to build technical support teams, hold training sessions to harness Pakistan’s clean energy potential

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Hopewind-plans

Hopewind, the world’s leading renewable energy equipment producer, has plans to build technical support teams in Pakistan comprising local technicians for efficient service to its customers using clean energy options for energizing their homes and offices. “We have also plans to conduct local R&D activities to promote and support the Pakistani renewable sector for maximum utilization of solar and wind power potential of our country,” said Hopewind’s new Country Manager in Pakistan, Syed Salman Mohiuddin, while speaking at a webinar titled: “Smart energy choice for your home & business.He said…

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SNGPL imposes Rs55m in fines over gas pilferage in Punjab, KP

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sngpl.jpg

LAHORE: Sui Northern Gas Pipelines Limited (SNGPL) teams have disconnected 7,187 connections — 7,144 domestic and 43 commercial — in several operations from September 8 to date in Punjab and Khyber Pakhtunkhwa due to gas pilferage and other complaints. The company imposing heavy fines totalling Rs55.2 million, according to an SNGPL spokesperson. “Over the past 17 days, we have disconnected a total of 7,187 connections across all regions of the company,” said the spokesperson while talking to Dawn on Sunday. “We will provide a complete breakdown by region on Monday (today),” he…

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Is the worst behind Pakistan’s economy?

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Pakistan-economy

ISLAMABAD: While it remains too early to assert definitively, several indicators suggest that Pakistan’s economy may have weathered the worst of its recent challenges. There were serious concerns that due to the IMF’s push for easing import controls and letting the exchange rate float, the rupee may see further free fall. However, after hitting a record low of Rs335 on September 5, the rupee is regaining ground, stabilising at approximately Rs292 to the US dollar, a level where the caretakers inherited. Foreign exchange reserves have surged past $13 billion, including…

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