Day: September 28, 2024

Six dead, eight injured in Mari Petroleum’s MI 8 helicopter crash in North Waziristan

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KARACHI According to tv report Mari Petroleum’s MI-8 helicopter has been crashed in North Waziristan. Six died and eight injured as a result of the helicopter crash.The injured had been shifted to CMH Thal via helicopter.As per reports, the helicopter was carrying 14 passengers including 3 Russian pilots and crew.As per Mari Petroleum spokesperson, the helicopter exploded during flight in Shewa Oil Field in North Waziristan.The helicopter was providing transportation services in the Waziristan’s Shiva  block.Engine failure caused the accident that resulted in a crash, it has been reported.The helicopter…

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Petrol Price Expected to Remain Steady, Diesel Prices May Drop

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petrol-price

ISLAMABAD: The federal government is likely to maintain the current petrol price while reducing the ex-depot price of high-speed diesel (HSD) starting October 1, 2024. With no changes anticipated in the petroleum levy (PL) or general sales tax (GST), petrol prices are expected to stay at Rs 249.10 per litre. In contrast, HSD prices could decrease by Rs 2.11 per litre, bringing it to Rs 247.58. Kerosene oil might see a Rs 3.23 per litre reduction, and light diesel oil (LDO) prices could dip slightly to Rs 141.04 per litre.…

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Chinese Photovoltaic Exports to Pakistan Surge Amid Growing Solar Demand

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solar-energy

BEIJING: Pakistan’s demand for solar photovoltaics (PV) is skyrocketing as the country faces chronic power shortages and the aftermath of frequent floods. In August 2024 alone, China’s inverter exports to Pakistan reached 326 million yuan, a remarkable 429.04% year-on-year increase, according to the China Photovoltaic Industry Association (CPIA). Pakistan has emerged as the second-largest overseas market for Chinese PV modules, trailing only Europe. The surge in demand is driven by Pakistan’s energy crisis, reliance on coal imports, rising electricity prices, and damage to power infrastructure. With solar panels becoming commonplace…

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IMF Urges Pakistan to Sustain Reforms and Broaden Tax Base Under $7bn Bailout

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New-IMF

The International Monetary Fund (IMF) has emphasized the importance of sustained implementation of Pakistan’s $7 billion Extended Fund Facility (EFF) and broadening the tax base for long-term economic stability. Following the IMF’s disbursement of a $1 billion tranche, the board stressed that Pakistan must continue reforms, particularly in tax administration, fiscal management, and the energy sector. The IMF urged Pakistan to move away from a state-led growth model, calling for more competition, private investment, and governance reforms. The program aims to enhance the country’s resilience, promote inclusive growth, and strengthen…

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COAS Pledges Road Repairs, Tariff Relief for Karachi’s Traders

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Army-Chief

KARACHI: Chief of Army Staff (COAS) General Asim Munir has assured Karachi’s business community of efforts to reduce industrial electricity tariffs and repair roads in key trading areas. During his visit to the city, he emphasized that the economy is gradually improving and acknowledged the role of entrepreneurs in this recovery. Meeting with businesspersons, General Munir expressed optimism about Pakistan’s economic stability, citing the stabilization of the rupee-dollar exchange rate and a decrease in inflation. He also pledged support for road infrastructure improvements in seven industrial estates and hinted at…

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