Month: March 2024

KP Chief Minister Calls for Action on Federal Dues, Emphasizes Hydropower Rights

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Karot-Hydropower

During a meeting at the Chief Minister’s House in Peshawar, KP Chief Minister Ali Amin Khan Gandapur emphasized the significant outstanding dues owed to Khyber Pakhtunkhwa (KP) by the federal government. Under the ‘AGN Qazi Formula’, the federal government owes KP a substantial amount of Rs 1,510 billion as net hydel profit (NHP). Additionally, arrears totaling Rs. 6 billion, pertaining to the province’s electricity supplied to the national grid, remain unsettled. Attendees of the meeting included Advisor to Chief Minister for Finance Muzammil Aslam, Chief Secretary Nadeem Aslam Chaudhry, and…

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SNGPL Proposes Tax Law Amendments to Alleviate Financial Strain

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Gas-Project

In a bid to alleviate financial burdens, the Sui Northern Gas Pipeline Company Limited (SNGPL) has recommended amendments to tax laws, aiming to revise sales tax, income tax, and minimum turnover tax, sources within the Petroleum Division informed Business Recorder. The proposed amendments address various tax issues previously highlighted by SNGPL, which were not addressed in the Finance Act 2023. The company stressed the urgency of providing relief in the upcoming Finance Bill for FY 2024-25, citing adverse effects on liquidity and profitability. Sales tax issues concerning RLNG (Re-gasified Liquefied…

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Syed Nasir Hussain Shah Appointed Minister for Energy Department

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Nasir-Shah

In a ceremony held at the Governor House, a 10-member Sindh Cabinet was inaugurated, presided over by Sindh Governor Kamran Tessori. Notable attendees included Sindh Chief Minister Syed Murad Ali Shah, elected lawmakers, diplomats, and members of various sectors. During the event, Sindh Chief Minister Murad Ali Shah, in consultation with party leadership, assigned portfolios to cabinet members. Of particular significance, Syed Nasir Hussain Shah was appointed as the Minister for the Energy Department, among other responsibilities. Former information minister Sharjeel Inam Memon was designated the senior minister, overseeing portfolios…

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Government Urged to Prioritize Energy Sector Improvement, Says Malik Khuda Bakhsh

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New-fpcci

Karachi (March 13, 2024): Malik Khuda Bakhsh, convener of the FPCCI Central Standing Committee on Energy 2024-2025, emphasized the crucial need for the new government, led by Mian Shahbaz Sharif, to promptly address energy sector challenges. Speaking at the second meeting of the FPCCI Energy Committee, Bakhsh highlighted the committee’s intent to formulate impactful proposals aimed at bolstering the energy industry under the guidance of FPCCI President Atif Ikram Shaikh. Attended by prominent business leaders and technocrats, including representatives from OGRA, PSO, and Shell Pakistan, among others, the meeting delved…

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ADB and WAPDA Deliberate Financial Aid for Water and Hydropower Initiatives

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ADB-WAPDA

On March 12, 2024, a 13-member delegation from the Asian Development Bank (ADB), led by Country Director Mr. Yong Ye, convened with Chairman of WAPDA, Engr Lt Gen Sajjad Ghani (Retd), for discussions on water and hydropower projects. The ADB delegation, currently in Pakistan to conduct a Country Portfolio Review, engaged in a conclusive session with the Chairman concerning various projects. Matters pertaining to financing for WAPDA projects, specifically Kurram Tangi Dam Stage-II, Naulong Dam, and the Pattan Hydropower Project, were deliberated during the meeting. In attendance were key figures…

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