Day: July 20, 2024

CM Sindh wants 28 KMC AC -CNG buses to be renovated, put on city routes

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New-Project

KARACHI (July 20): Sindh Chief Minister Syed Murad Ali Shah presiding over a meeting directed Mayor Karachi to work out a proposal to add 28-air conditioned CNG buses of KMC to the Peoples Bus Service fleet so that they could be put on any existing or new routes in the city. The meeting was attended by Minister of Local Government Saeed Ghani, Mayor Karachi Murtaza Wahab, PSCM Agha Wasif, Secretary Local Govt Khalid Hyder Shah, Secretary Finance Fayaz Jatoi and Municipal Commissioner KMC Afzal Zaidi. Mayor Karachi Murtaza Wahab briefing…

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Türkiye to Enhance Naval Presence in Somali Waters for Oil and Gas Exploration

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Turkiye-Project

ANKARA: Türkiye is set to strengthen its naval presence in Somali waters, following a recent agreement granting Ankara exclusive rights to explore and produce hydrocarbons in three offshore blocks. President Tayyip Erdogan submitted a motion to the Turkish parliament on Friday, seeking authorization for the deployment of Turkish military forces, including naval support, to Somalia’s territorial waters, according to the state-run Anadolu Agency. This move follows an announcement by the Turkish energy ministry that an exploration vessel will be sent to Somalia later this year as part of a hydrocarbon…

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Industrialists Call for Reduced Tariffs on IPPs

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power-subsidy

LAHORE: Prominent business leaders, under the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), have rejected costly contracts with Independent Power Producers (IPPs) and demanded an independent energy tariff assessment by an international auditing firm of high repute. Terming the current energy tariffs unacceptable and detrimental to the country’s industry, they emphasized the need for revision. “I am ready to get the electricity tariffs of my two power plants revised,” offered SM Tanveer, former caretaker Punjab minister for industry, at a press conference alongside former caretaker federal minister Gohar…

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High Power Tariffs Crippling Pakistan’s Textile Exports

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Textile-Project

ISLAMABAD: Amid a decline in textile exports in June, industry leaders have urged the government to renegotiate agreements with Independent Power Producers (IPPs) to rescue the struggling sector. They argue that the exorbitant cost of electricity, driven by capacity charges, is unsustainable. Former caretaker minister for Commerce and Industry, Gohar Ejaz, criticized the government for imposing Rs24 per unit in IPP capacity payments on consumers. Khurram Mukhtar, Patron-in-Chief of the Pakistan Textile Exporters Association (PTEA), echoed this concern, calling for a revision of these agreements. The debate over IPP capacity…

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