Year: 2024

Ministry Opposes Solarisation of Tubewells in Balochistan Amid Groundwater Crisis

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solarisation-project

ISLAMABAD: The Ministry of Water Resources has opposed the solarisation of agricultural tubewells in Balochistan, citing the severe depletion of groundwater levels in the province. This stance was presented during a Senate Standing Committee on Water Resources meeting chaired by Senator Shahadat Awan. Secretary of Water Resources, Syed Ali Murtaza, warned that installing solar panels to power tubewells would exacerbate the already critical water crisis in the region. He stressed that halting further solarisation is the only viable solution, as no engineering remedy can resolve the depleting groundwater issue. This…

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SHC Rules K-Electric’s Subsidy and Fuel Cost as Part of Turnover for Minimum Tax

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K-Electric

ISLAMABAD: The Sindh High Court (SHC) ruled on Monday that the subsidy and fuel cost recovered by K-Electric from consumers must be treated as part of its turnover for calculating minimum tax under Section 113 of the Income Tax Ordinance 2001. The judgment came in response to appeals filed by the Revenue Department challenging the Appellate Tribunal Inland Revenue’s decision to exclude government-provided subsidies from K-Electric’s turnover. The SHC ruled in favor of the Revenue Department, stating that both the fuel cost and subsidy adjustments receivable from the government are…

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Petroleum Minister’s Absence Stalls Key Gas Reform Decisions

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Musadik-Malik

ISLAMABAD: The absence of Petroleum Minister Musadik Malik has delayed a crucial decision on allocating 35% of future gas discoveries to the private sector, hindering progress in the 20-member Task Force on Gas-Related Issues, led by Deputy Prime Minister Ishaq Dar. Sources revealed that Malik, despite assurances of joining Monday’s meeting via video link from Russia, missed his second consecutive session, preventing the task force from finalizing the 35% gas allocation proposal. Malik had suggested phasing in the 35% target by 2031, increasing by 5% annually from the current 10%.…

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Govt reduces petrol and diesel prices 1 October

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Petroleum-price

ISLAMABAD: The government has announced a reduction in petroleum prices, offering some relief to the public, Energy Update reported on Monday. As per the notification, the price of petrol has been decreased by Rs 2.7 per liter, bringing the new price to Rs 247.03 per liter. High-speed diesel saw a reduction of Rs 3.40 per liter, while light diesel has been lowered by Rs 1.30 per liter. Kerosene oil prices have also been reduced by Rs 3.57 per liter. This decision aims to ease inflationary pressure on consumers amidst rising…

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Jawed Bilwani, Zia ul Arfeen, Faisal Khalil elected as President, SVP, VPBMG, KCCI Leadership vow to fight aggressively for business community’s rights

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New-KCCI

KARACHI: Muhammad Jawed Bilwani, Zia ul Arfeen and Faisal Khalil were announced elected as President, Senior Vice President and Vice President of the Karachi Chamber of Commerce & Industry (KCCI) respectively for 2024-26 at the 63rd Annual General Meeting held at KCCI’s Auditorium.Chairman Businessmen Group (BMG) Zubair Motiwala, Vice Chairmen BMG Anjum Nisar and Mian Abrar Ahmed, General Secretary BMG AQ Khalil, newly elected President Jawed Bilwani, newly elected Senior Vice President Zia ul Arfeen, newly elected Vice President Faisal Khalil, Retiring President Iftikhar Ahmed Sheikh, Retiring Senior Vice President…

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