Day: April 6, 2026

BERLIN: Five European Union member states have proposed imposing a windfall tax on energy companies to address soaring fuel prices triggered by the ongoing Iran conflict, according to a joint letter sent to the European Commission. Finance ministers from Germany, Italy, Spain, Portugal, and Austria urged the European Commission to introduce an EU-wide tax on excess profits earned by energy firms. The proposal aims to generate funds for temporary consumer relief and help curb inflation without adding pressure on public finances. The ministers emphasized that such a measure would demonstrate…

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ISLAMABAD: The Power Division is moving forward with the appointment of a new Board of Directors (BoD) for Sukkur Electric Power Company (SEPCO) after prolonged delays, while the process for Hyderabad Electric Supply Company (HESCO) continues to face uncertainty. According to officials, both Sindh-based distribution companies have been operating without reconstituted boards since the expiry of their three-year tenures on September 2, 2025. The delay, largely attributed to political factors, has drawn criticism, particularly as both utilities remain among the poorest performers in terms of losses and recovery. Operating under…

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ISLAMABAD: Facing strong public backlash over the sharp rise in fuel prices, the government has rolled out a targeted subsidy for public transport, aiming to cushion the impact on commuters and control inflation. Speaking at a joint press conference, IT and Telecom Minister Shaza Fatima Khawaja announced that trucks, buses, and other public service vehicles have started receiving the subsidy with immediate effect. She said the initiative, originally planned for later implementation, was expedited on the directives of Prime Minister Shehbaz Sharif due to the urgency of the situation. The…

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KARACHI: Despite evolving policies around net metering and rising installation costs, rooftop solar systems continue to attract strong interest in urban Pakistan, driven largely by soaring electricity and fuel prices. On a typical sunny day in Karachi, residents like Ali Hassan monitor their solar generation through in-home inverters, reflecting a growing shift toward energy self-reliance. While earlier expectations included selling excess electricity to the grid, recent policy changes have made such returns less certain. According to the Alternative Energy Development Board and market estimates, demand for distributed solar systems remains…

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KARACHI: Electric bike assemblers have increased prices by Rs5,000 in response to surging demand driven by rising petrol costs, signaling a growing shift toward alternative mobility solutions. Industry players attribute the price hike to escalating sea freight charges, higher logistics expenses for transporting imported components from Karachi port to manufacturing units, and increased transportation costs due to expensive diesel. While some assemblers implemented revised prices from April 3, others are set to follow from April 10. Following the adjustment, e-bike prices now range between Rs125,000 and Rs350,000, depending on battery…

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