Author: Admin

Islamabad: The government has constituted two high-level committees following the emergence of a massive Rs120 billion solar panel over-invoicing scandal, as concerns grow over financial irregularities and governance failures within the system. According to official details, a seven-member monitoring committee has been established under the leadership of Secretary Establishment Division Nabil Awan. This committee will oversee the overall progress and coordination of the inquiry process. In parallel, a second committee has been formed to supervise investigation and prosecution efforts, headed by Director General Customs Intelligence, Rubab Sikandar. This body will…

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ISLAMABAD: The Power Division has formally urged the National Electric Power Regulatory Authority (Nepra) to abolish the licence requirement and associated fee for solar consumers with systems up to 25 kilowatts, in a move aimed at easing public concerns and promoting renewable energy adoption. The directive, issued on the instructions of Federal Power Minister Awais Leghari, calls for the removal of application fees and restoration of the earlier regulatory framework that exempted small-scale solar users from licensing requirements. In its statement, the Power Division noted that under the 2015 distributed…

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ISLAMABAD: The International Monetary Fund (IMF) will convene its Executive Board on May 8 to consider the approval of over $1.2 billion in funding for Pakistan under two ongoing programmes — the $7 billion Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF). According to IMF officials, Pakistan has qualified for approximately $1 billion following the successful completion of the third review under the EFF, along with about $210 million under the second review of the RSF. A staff-level agreement (SLA) for the disbursement was reached on March…

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Kicker: Relief measures aim to ease financial burden amid Gulf shipment disruptions ISLAMABAD: Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry has announced significant storage charge waivers ranging from 25% to 50% at terminals operated by the Karachi Port Trust (KPT), offering much-needed relief to exporters impacted by recent disruptions in Gulf-bound shipments. The initiative, carried out under the supervision of KPT Chairman Shahid Ahmed, follows consultations with terminal operators to address mounting concerns from the export sector. Under the revised structure, a 50% waiver has been granted at…

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