Day: February 3, 2024

Solar Scandal Unveiled: Central Suspect Nabbed in 73 Billion Rupees Tax Evasion Drama at Karachi Court

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FBR-Solar

Karachi: In a riveting turn of events, a central figure in the solar panel import scandal, defrauding taxes amounting to a staggering 73 billion rupees, was apprehended in a dramatic fashion at the Customs Court in Karachi. The suspect, identified as Rabb Nawaz, orchestrated a daring evasion operation, hiding within the court premises for several hours before finally being captured.Despite relentless attempts to secure bail discreetly, Nawaz remained present in court even after the judge had departed. His arrest is expected to catalyze further investigations into the extensive solar panel…

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Ginlong (Solis) Earns High Ranking in 2023 Inverter Bankability Survey

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2023-Inverter

London, UK – January, 2024: In a significant development for the global solar industry, Ginlong (Solis) proudly announces its notable position in the 2023 BloombergNEF (BNEF) Inverter Bankability Survey. The survey, engaging diverse industry stakeholders such as banks, solar engineering contractors, and technical advisers, sheds light on the solar inverter bankability landscape. Ginlong (Solis) stands recognized for its bankability, a testament to its commitment to quality and adaptability in a rapidly evolving solar market. In the solar industry, bankability influences investment decisions and financial institutions’ support for projects employing specific…

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Descon, IFC sign MoU

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Descon-IFC

LAHORE: Descon, a leading engineering and construction company in Pakistan, and the International Finance Corporation (IFC) have signed a memorandum of understanding (MoU) to address the significant postharvest losses of wheat, rice, and maize in the country. The MoU, signed under Descon’s Agri Business Line, aims to reduce the annual postharvest losses of essential grains in Pakistan, which amount to around $2 billion, according to a statement issued on Friday. These losses contribute to food insecurity, affecting 36.8 percent of the population. “We are excited about the potential impact of…

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Discos to charge Rs4.567/unit extra in February

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power-e-unit

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) granted approval on Friday for the state-run power distribution companies (Discos) to levy an extra Rs 4.567 per unit on the bills of power customers for February 2024. The additional charges were sanctioned by the regulator in light of fuel charges adjustment (FCA) of December 2023. This decision is expected to impose a financial burden of approximately Rs 33.88 billion on consumers, with the potential to rise to nearly Rs 40 billion when the 18 per cent General Sales Tax (GST) is…

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Nepra too concerned about rising tariff?

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Nepra-KE-1

ISLAMABAD: National Electric Power Regulatory Authority (NEPRA) acknowledged that amid the historically highest inflation in the country, the extraordinary increase in the price of electricity has badly disrupted life of an ordinary man. The Power Regulator in its State of Industry (SIR) 2023 report explained the reasons for the power sector’s dismal performance during the year, starting from government’s action to depreciate the Rupee, take and pay and underutilization of efficient capacity. Pakistan’s total installed capacity stood at 45,885 MW in 2023. According to the report, over the years, Pakistan…

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