Year: 2026

ISLAMABAD: The International Monetary Fund (IMF) has set Pakistan’s petroleum levy collection target at Rs1.73 trillion for fiscal year 2026-27, an increase of Rs259 billion over the current year, while also tightening conditions to ensure the Federal Board of Revenue (FBR) meets its revenue goals, according to the Fund’s staff-level report released on Friday. The report revealed that the federal and provincial governments will jointly undertake additional revenue measures worth Rs860 billion. Of this amount, the federal government will generate Rs430 billion through new taxation and enforcement measures, while provinces…

Read More

KARACHI: Stakeholders in Pakistan’s renewable energy sector have called on the Engineering Development Board (EDB) to reduce taxes on lithium battery cells to encourage local manufacturing and accelerate the country’s transition toward clean energy. According to a statement issued on Friday, Irfan Allahawala, Chairman of the Pakistan Renewable Energy Development Forum, said lithium battery cells are currently subject to nearly 50 percent taxation, making domestic battery assembly commercially unviable. He noted that the heavy tax burden has significantly increased battery prices, creating a major obstacle to the wider adoption of…

Read More

ISLAMABAD: Amid global energy disruptions triggered by the closure of the Strait of Hormuz, the Energy Transitions Commission (ETC) has cautioned governments against expanding fossil fuel infrastructure, urging instead a rapid transition toward renewable energy to strengthen resilience against future geopolitical shocks. In its latest study, the ETC — a coalition of global energy leaders committed to achieving net-zero emissions by 2050 — argued that fossil fuel-based energy systems are highly vulnerable to supply disruptions because they depend on continuous commodity flows through critical chokepoints such as the Strait of…

Read More

KARACHI: A Chinese company is set to install a large-scale desalination plant in Karachi with a production capacity of 50 million gallons per day (MGD), a project expected to provide significant relief to the city’s long-standing water shortages. The announcement was made on Thursday by Sindh Senior Minister Sharjeel Inam Memon during a press conference in Karachi. He said a memorandum of understanding (MoU) for the project was signed during President Asif Ali Zardari’s recent visit to China, marking part of a broader package of agreements aimed at expanding cooperation…

Read More