Month: March 2024

Sindh CM, fed finance minister discuss at-source deduction, gas price hikes.

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Gas-Prices

KARACHI (March 30): Sindh Chief Minister Syed Murad Ali Shah and Federal Minister for Finance Mohammad Aurangzeb have agreed to collaborate in order to attract foreign investment and boost exports, thereby enhancing the financial stability of the province in general and of the country in particular.This emerged in a meeting between the two here at CM House on Saturday. The meeting was attended by PSCM Agha Wasif, Additional Secretary Ministry of Finance Amjad Mahmood, and Provincial Secretary Finance Fayaz Jatoi.The chief minister said the FBR and other federal entities were…

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SIFC Should Push for Safe Cities for FDI SuccessIntegrated National Command & Control (IC3) NeededNoman Said

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SIFC

Renowned international safe cities consultant, Noman Said, has stressed that now is the time for Pakistan to get the safe cities right at the planning stage; as 18 projects are underway or being planned in Punjab alone; and, Karachi Safe City mega project has also been initiated. Noman Said added that based on his experience, in order to safeguard public funds, safe cities should be planned in a way that they can be integrated to other safe cities at any later stage – be it on a divisional, regional ,…

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EAD Urges NTDC to Expedite Dasu Project Construction, Set to Meet End-Dec 2025 Deadline

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Dasu-Dam

The Economic Affairs Division (EAD) has issued directives to the National Transmission and Despatch Company (NTDC) to accelerate construction work on Lot-1, Lot-2, and Lot-3 of the Dasu hydropower project, aiming for completion by the end of December 2025. In a recent meeting chaired by Economic Affairs Minister Ahad Cheema, various stakeholders including the World Bank, ADB, and other agencies discussed the progress and challenges faced by foreign-funded projects. The focus was on addressing delays that hinder disbursements and prolong project timelines. One of the key projects under scrutiny is…

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Neelum-Jhelum Hydropower Plant Reaches Maximum Capacity, Generating 969MW

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Neelum-Jhelum

The Neelum-Jhelum Hydropower Plant has achieved a significant milestone by generating 969 megawatts (MW) of electricity at its full capacity, following the resumption of power generation earlier this month after inspection of its tail race tunnel. The project, located on the Neelum River in Azad Jammu and Kashmir (AJK), resumed electricity production after a comprehensive examination of its tunnel during a low-flow season. International experts were involved in inspecting the tunnel, ensuring its safety and functionality. Operational since 2018, the Neelum-Jhelum Hydropower Plant is a unique hydroelectric project, with 90%…

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Petrol Prices Expected to Surge to Rs290 Ahead of Eid, Diesel Rates Likely to Decrease

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Petrol-price

As Eidul Fitr approaches, petrol prices in Pakistan are anticipated to increase by approximately Rs10-11 per litre on March 31, primarily due to higher import premiums and global market prices. Conversely, the price of high-speed diesel (HSD) is expected to decrease by up to Rs2 per litre during the same period. The current ex-depot price of petrol stands at around Rs280 per litre, and with the upcoming review, it could surpass Rs290 per litre. This price surge is attributed to a $4 per barrel increase in the import price of…

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