Day: February 22, 2024

Unlocking Pakistan’s Digital Future: Insights from Telenor Asia’s Digital Lives Decoded Study

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New-Telenor

22nd February 2024 Islamabad: With mobile devices becoming increasingly central to our daily lives, the second-year study of ‘Digital Lives Decoded’ conducted by Telenor Asia determined the key drivers of mobile use: forging healthy social connections, opening new opportunities, a safer online experience, learning and growing with new skills and reducing our impact on the planet.The first Digital Lives Decoded study in 2022 came at a time when Pakistan was emerging from a global pandemic and the pace of digital adoption accelerated. Building upon the foundation laid by its predecessor,…

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PPIB to Review Progress of Azad Pattan Hydropower Project Tomorrow

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Azad-Pattan

The Private Power Infrastructure Board (PPIB) is set to convene a meeting tomorrow to assess the status of the Azad Pattan Hydropower Project, a 770.7 MW venture located on the River Jhelum, jointly developed by a Chinese company. The project, spearheaded by Azad Pattan Power Pvt Limited (APPL), a subsidiary of China Gezhouba Group, has faced delays, prompting the PPIB to scrutinize its progress. According to the Managing Director of PPIB, concerns have been raised regarding the stagnant advancement of the project, necessitating a thorough review of the issues, bottlenecks,…

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Refinery Negotiates Settlement with Govt Over Unpaid Petroleum Levy

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fuel-oil

The Finance Division has initiated discussions with refiner Cnergyico Pk Limited (CPL) to address an outstanding amount of Rs47.5 billion in unpaid petroleum levy (PL) on petroleum products, as revealed by an official document. According to the document, CPL has been in arrears since 2019, resulting in a significant accumulation over the past four and a half financial years. Despite government efforts to recover the amount, CPL has contested these attempts in court. In response to CPL’s proposal for a Deed of Settlement (DOS) to settle the dues, the Petroleum…

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Government Approves RLNG Supply for New Domestic Consumers

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New-RLNG

In a move to address the diminishing local natural gas production, the outgoing caretaker regime has greenlit a policy allowing for the provision of Re-Gasified Liquefied Natural Gas (RLNG) to new domestic consumers and private housing societies. The decision, ratified by the Apex Committee of the Special Investment Facilitation Council (SIFC) in its 9th meeting, aims to tackle the challenge posed by plummeting local gas output, which currently stands at 3.2 billion cubic feet per day (bcfd). According to a senior official from the Energy Ministry, directives will be issued…

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Ministry Identifies Key Economic Risks for Pakistan

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Economic-Risks

In a comprehensive assessment, the Ministry of Finance has pinpointed eight critical fiscal risks posing potential threats to Pakistan’s economy. These risks span macroeconomic imbalances, escalating debt levels, guarantees, climate degradation, State-Owned Enterprises (SOEs) losses, public-private partnership risks, provincial fiscal indiscipline, and governance challenges. Released in the Fiscal Risk Statement (FRS) for 2023-24, the Ministry underscores the volatility in Pakistan’s inflation rate, influenced by factors such as currency devaluation, global energy prices, and food costs. The depreciating Pakistani rupee, driven by trade imbalances, external debt, and geopolitical instability, exacerbates inflationary…

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