Author: Admin

Energy and Economy Forum Highlights Key Energy Sector Challenges

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Energy-and-Economy

Energy and Economy Forum Highlights Key Energy Sector Challenges December 19, 2024 Islamabad, December 19, 2024 – The Energy and Economy Parliamentary Forum convenes its third meeting in the Parliament House, chaired by Dr Nafisa Shah, and co convened by Arbab Sher Ali and Shezra Mansab Ali and attended by Senator Sadia Abbasi and MNAs Mubeen Jutt, Danial Chaudhry, Dr Amjad Ali. The meeting reiterated that comprehensive and all encompassing energy reforms were the need of the hour and agreed to convene a parliamentary consultation to review the ongoing negotiations…

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ECC Approves Urea Subsidy, PRAL Restructuring, and Multiple Development Grants

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ECC-Approves

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet, chaired by Finance Minister Senator Muhammad Aurangzeb, approved key decisions on Wednesday, including a Rs10 billion allocation for urea subsidy dues and a restructuring plan for Pakistan Revenue Automation Limited (PRAL). The ECC endorsed a Commerce Ministry proposal for a 50:50 cost-sharing subsidy on imported urea and directed provinces to contribute their share. This measure aims to alleviate financial burdens and ensure urea availability for agricultural needs. Additional approvals included: Pakistan Skills Impact Bond (PSIB): A Rs1 billion government guarantee proposal…

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France Raises Concerns Over Challenges for Its Energy Firms in Pakistan

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France-Pak

ISLAMABAD: Following similar concerns voiced by Germany and the United Kingdom, France has expressed apprehensions regarding the difficulties faced by its energy companies operating in Pakistan. These concerns were highlighted by French President Emmanuel Macron during a recent bilateral meeting in Riyadh with Prime Minister Shehbaz Sharif. The Prime Minister assured Macron that these issues would be addressed, according to sources close to the Special Assistant to the Prime Minister (SAPM) on Power. Meanwhile, the Ministry of Foreign Affairs (MoFA) informed the SAPM on Power about a claim filed by…

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Government Urges Provinces to Ensure Oil Price Cuts Benefit Consumers

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russia-oil

ISLAMABAD: The federal government has called on provincial administrations to take strict measures against petroleum dealers failing to pass on the benefits of recent fuel price reductions to consumers. Despite multiple cuts in petroleum prices, weak provincial oversight has prevented consumers from fully reaping the benefits. During a meeting of the National Price Monitoring Committee (NPMC), the Ministry of Planning, Development, and Special Initiatives emphasized the need for provinces to enforce price reductions more effectively. The Pakistan Bureau of Statistics (PBS) was directed to prepare a report identifying the key…

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ECC Approves New EPZ in Balochistan, Key Economic Measures Worth Rs48 Billion

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New-ECC

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet, led by Finance Minister Muhammad Aurangzeb, has approved the establishment of a new Export Processing Zone (EPZ) in Balochistan’s Chagai district, with 80% Chinese ownership. The Siah Dik Copper Project, spanning 4,208 acres near Saindak, will be operated by KoheSultan Mining Company Limited, with China Metallurgical Group Corporation holding the majority stake and Siakoh Mineral Development Corporation owning 20%. Despite prior reservations from the International Monetary Fund (IMF) regarding new EPZs, officials confirmed that zones approved within the past two years,…

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