Author: Admin

SIFC Approves SSGC-JJVL Revenue-Sharing Deal to Restart LPG Plant by July 31

Admin
JJVL-SSGC

ISLAMABAD – The Special Investment Facilitation Council (SIFC) on Wednesday formally endorsed a revenue-sharing agreement between Sui Southern Gas Company Limited (SSGC) and Jamshoro Joint Venture Limited (JJVL), paving the way for the resumption of operations at the JJVL LPG-NGL extraction plant within 45 days—by July 31. Under the approved arrangement, SSGC and JJVL will operate on a 66:34 revenue-sharing formula, with SSGC also receiving 25% of the LPG output at the OGRA-notified producer price. The deal is expected to generate Rs2 billion annually for SSGC. The agreement, initially approved…

Read More

Govt Mulls Abolishing Sales Tax on Solar Panel Imports, Faces Rs20bn Revenue Hit

Admin

ISLAMABAD – The government is poised to abolish the proposed 18% sales tax on the import of solar panels, a move expected to cost the national exchequer approximately Rs20 billion in the fiscal year 2025–26. According to official sources, there is a strong possibility that the proposed tax will be either fully withdrawn or further reduced from the revised rate of 10% currently under consideration. To offset the revenue shortfall, the Federal Board of Revenue (FBR) is preparing alternative measures to be submitted for approval by Prime Minister Shehbaz Sharif.…

Read More

GST on Solar Panels Slashed to 10pc Amid Budget Revisions; Provinces Retain Digital Tax Authority

Admin
Solar-Panels

ISLAMABAD – Deputy Prime Minister and Foreign Minister Ishaq Dar on Wednesday announced a major revision in the federal budget, confirming that the proposed General Sales Tax (GST) on imported solar panels has been reduced from 18% to 10% following consultations with coalition partners and stakeholders. Speaking during the National Assembly session, Dar clarified that the digital sales tax on services would remain under the jurisdiction of provincial governments, in line with the constitution. He noted that valid concerns over digital taxation were addressed through thorough engagement with stakeholders and…

Read More

Cabinet Approves Historic Circular Debt Plan, Reaffirms Support for Iran Amid Escalating Regional Crisis

Admin
Circular-Debt

ISLAMABAD – The federal cabinet on Wednesday approved Pakistan’s largest-ever financial restructuring initiative to address the chronic issue of circular debt in the power sector, targeting the elimination of Rs1.275 trillion over six years without burdening the national budget. Chaired by Prime Minister Shehbaz Sharif, the cabinet meeting hailed the plan as a major milestone in energy sector reforms. Under the strategy, Rs683 billion of Power Holding Company debt will be refinanced, while overdue payments to Independent Power Producers (IPPs) will be settled—steps deemed crucial for restoring investor confidence and…

Read More

Trump, Field Marshal Munir Hold Historic Talks on Counterterrorism, Trade in Cordial White House Meeting

Admin
Asim-Munir

WASHINGTON – In a landmark meeting at the White House, US President Donald Trump and Pakistan’s Chief of Army Staff (COAS) Field Marshal Syed Asim Munir held wide-ranging discussions on joint counterterrorism efforts and expanding bilateral trade, the ISPR said in a statement on Thursday. This unprecedented meeting marked the first time a serving Pakistani army chief was formally received by a sitting US president in such capacity, without holding political office or ruling under martial law. Held in the Cabinet Room over a luncheon, the meeting extended over two…

Read More