Executive Director, Sustainable Development Policy Institute (SDPI), Dr. Abid Qaiyum Suleri has been appointed as member of the prestigious COP29 Azerbaijan International Advisory Committee to assist the chair on the global environmental moot’s negotiation agenda.
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ISLAMABAD: The Finance Ministry and the Federal Board of Revenue (FBR) will provide a detailed briefing to the National Assembly Standing Committee on Finance today, explaining the rationale behind imposing two further taxes on electricity bills. Presided over by Syed Naveed Qamar, the finance committee has requested the FBR to clarify the types of further taxes levied on electricity consumers. Qamar noted that sales tax is collected on the sale of all goods, including electricity. When questioned about the additional taxes on electricity bills, the FBR chairman mentioned that two…
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ISLAMABAD: Commerce Minister Jam Kamal Khan has championed the efficiency of over 100 Captive Power Plants (CPPs), asserting they outperform Independent Power Plants (IPPs) and K-Electric (KE) plants. He has urged the Prime Minister to instruct the Petroleum Division to establish audit criteria for the energy efficiency of captive plants in the export sectors based on global standards. Additionally, he requested the continuation of gas/RLNG supplies to compliant captive plants certified by authorized third-party auditors. Sources revealed that the commerce minister commended the Prime Minister for addressing export sector issues…
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ISLAMABAD: The Power Division has assured the National Assembly Standing Committee on Power that it is prepared to terminate agreements with Independent Power Producers (IPPs) if the committee recommends such action. This statement came just before a meeting of the Senate Standing Committee on Power, which is primarily focused on IPPs. The Senate committee’s chairman believes that the coexistence of Pakistan and IPPs is no longer viable. The debate on IPP agreements has intensified amid rising electricity prices, substantial capacity payments, escalating circular debt, and increased solarization due to load…
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ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has approved the federal government’s proposed uniform Schedule of Tariffs (SoTs) for distribution companies (Discos) and K-Electric (KE), leading to a uniform base tariff increase of up to Rs7.12 per unit. This adjustment raises the tariff from Rs29.78 per unit in FY 2023-24 to Rs35.50 per unit for 2024-25, aligning with the International Monetary Fund (IMF) deadlines. This tariff increase is based on the federal government’s motion and subsequent addendum, exempting protected and non-protected domestic consumers using 200 units monthly for three…
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ISLAMABAD: Finance Minister Muhammad Aurangzeb expressed optimism on Thursday about finalizing a $6 billion Extended Fund Facility (EFF) deal with the International Monetary Fund (IMF) within this month, having completed almost all prior actions ahead of time. Additionally, he mentioned reaching an agreement in principle with all provinces over the agricultural income tax. The government plans to request the IMF to enhance the package with a climate resilience facility (CRF) once the EFF is secured. Aurangzeb discussed these developments after briefing the National Assembly’s Standing Committee on Finance & Revenue,…
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