Author: Admin

PM Directs Resolution of Refinery Upgrade Tax Issue Within Two Weeks

Admin
Petroleum-Sector

ISLAMABAD: Prime Minister Shehbaz Sharif has instructed the Petroleum Division to resolve the impasse over the Brownfield Policy, aimed at upgrading local refineries to produce Euro-V standard petrol and diesel, within two weeks. The directive comes amidst delays in implementing the sales tax exemption critical to the policy’s success. The issue, a contentious budgetary measure from the FY25 Finance Bill, is essential for securing $5-6 billion in refinery sector investments. The Prime Minister’s Office has also asked the Petroleum Division to present concrete options to address the situation. The Special…

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KE Cuts Power to Railways Over Unpaid Bills; Railways Cites Rs70 Billion in Dues

Admin
K-Electric

KARACHI: The power utility company, K-Electric (KE), disconnected electricity to Pakistan Railways (PR) on Tuesday over unpaid bills amounting to Rs430 million since May 2024, disrupting key operations, including the online ticketing and signal systems for 38 daily passenger trains from Karachi. In its statement, KE stressed the unsustainability of continuing supply without payment and highlighted repeated defaults despite prior accommodations. “Notices and disconnections have been issued before, but undertakings by railway authorities to clear dues and pay monthly bills have been consistently dishonored,” KE stated. The utility warned that…

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EV Industry Pushes for Policy Reforms to Boost Adoption in Pakistan

Admin
Electric-Vehicle

KARACHI: Electric vehicle (EV) motorbike assemblers and dealers in Pakistan are urging the federal government and the Engineering Development Board (EDB) to adopt critical policy reforms under the upcoming New Energy Vehicle (NEV) policy. Their charter of demands includes tax exemptions, free registration for customers, accessible financing options, and localisation incentives to reduce costs and accelerate growth in the NEV sector. With nearly 40 EV motorbike brands entering the market and monthly sales reaching 3,000 units, the government aims to increase EV bike market share to 30%, targeting 500,000 units…

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Pakistan’s Oil Sales Hit 25-Month High Amid Crackdown on Smuggling and Price Cuts

Admin
Oil prices

KARACHI: Pakistan’s petroleum sales surged to a 25-month high in November 2024, reaching 1.58 million tonnes, marking a 15% year-on-year (YoY) increase. This growth, driven by stringent enforcement against smuggled Iranian fuel and significant reductions in petrol and diesel prices, underscores the recovery of the energy market and highlights the effectiveness of recent policy interventions. A report by Arif Habib Limited (AHL), released on December 3, 2024, attributes the rise to intensified restrictions on smuggled fuel, particularly from Iran, which previously comprised 15-20% of the domestic market. Tahir Abbas, Head…

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K-Electric Announces Launch of KHI Awards 2025 to Celebrate Community Impact

Admin
K-Electric

K-Electric (KE) has officially launched the 4th edition of the KHI Awards 2025, with applications now open from December 1, 2024. This prestigious initiative aims to recognize and promote institutional-level philanthropy, encouraging not-for-profit organizations, social enterprises, and entities driving social and environmental impact projects in Karachi, Dhabeji, Gharo (Sindh), and Uthal, Vinder, Bela (Balochistan) to participate. Since its inception in 2021, the KHI Awards have become a cornerstone of KE’s commitment to fostering collaboration and building a united community across various sectors. Over the years, the awards have processed 110…

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