Author: Admin

HCSTSI Demands Transparency in Hesco’s Tax Collection and Utilisation

Admin
Power-sector

KARACHI: Muhammad Farooq Shaikhani, President of the Hyderabad Chamber of Small Traders and Small Industry (HCSTSI), has formally requested Hyderabad Electric Supply Company (Hesco) to provide detailed information on the collection and utilisation of various taxes, including extra charges and late surcharges on electricity bills. In a letter addressed to Hesco CEO Roshan Ali Otho, Shaikhani demanded comprehensive data on the total amount collected from commercial and industrial consumers in Hyderabad over the past ten financial years. The request seeks transparency in how these collected taxes, amounting to billions of…

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Government Launches Probe into Rs135 Billion Fuel Scam; Committee Formed to Investigate Hazardous Fuel Import

Admin
Fuel-Import

ISLAMABAD: The government has initiated an investigation into a Rs135 billion scam involving the illegal import and sale of highly inflammable and hazardous fuel, disguised as an industrial chemical. A fact-finding committee, consisting of seven members and led by Additional Secretary Petroleum Hasan Mehmood Yousufzai, has been established to probe the scandal and provide recommendations within a week. The committee, formed after intervention from the Prime Minister’s Office, will investigate the import, clearance, and sale of Light Aliphatic Hydrocarbon Solvent, a petroleum product in violation of the Petroleum Act 1969…

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Nepra Increases Power Tariff by Rs2.56 per Unit Amid Rising Energy Costs

Admin
NEPRA-KE

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has announced a power tariff increase of Rs2.56 per unit, resulting in an additional burden of over Rs33 billion on consumers’ electricity bills in August. This hike, revealed as part of the June fuel cost adjustment (FCA), will be reflected in the August billing cycle. Lifeline consumers and K-Electric users will be exempt from this increase. This marks the second consecutive hike, following a Rs3.33 per unit increase in May, which was collected from consumers in July. The Central Power Purchasing Agency…

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Mari Petroleum Achieves Record Profit of Rs77 Billion in FY24

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mari-petrolium

KARACHI: Mari Petroleum Company Ltd (MPCL) has reported its highest-ever earnings, posting a record profit of Rs77 billion for FY24, marking a 38% increase from Rs56 billion in FY23. The company declared a final cash dividend along with an interim dividend of Rs232 per share for FY24, reflecting a payout ratio of 40%, up from 35% in the previous year. Additionally, Mari announced a substantial bonus of 800% (eight shares for every one share held). Sunny Kumar of Topline Securities noted that MPCL’s net sales surged by 25% year-on-year to…

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World Bank Urges Balochistan to Tap Renewable Energy Potential for Economic Growth

Admin
world-bank

ISLAMABAD: The World Bank has recommended that Balochistan capitalize on its vast renewable energy resources to generate surplus electricity, which could be exported to other provinces or internationally, thereby reducing its reliance on power imports. This proposal is outlined in the World Bank’s recently released “Balochistan Renewable Energy Development Study.” The study highlights that Balochistan possesses significant untapped potential for economically viable solar and wind energy. With photovoltaic (PV) potential ranging from 2,000 to 2,500 kWh/m², and areas with direct normal irradiation (DNI) of up to 2,500 kWh/m², the region…

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