Author: Admin

Government Announces Rs 50 Billion Subsidy for Low-Income Households

Admin
Musadik-Malik

ISLAMABAD: Federal Minister for Petroleum Musadik Malik announced a Rs 50 billion energy subsidy package on Tuesday, aimed at low-income households consuming up to 200 units of electricity. This initiative will benefit 86 percent of households, ensuring they retain last year’s power tariff. Additionally, Rs 600 billion has been allocated for the Benazir Income Support Programme (BISP) to assist the poor. The recent budget also includes development projects worth Rs 1,200 billion. Minister Malik highlighted the country’s economic progress, noting a bullish trend in the stock exchange and a rise…

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President and Commonwealth Secretary Discuss Climate Challenges

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Asif-Zardari

ISLAMABAD: President Asif Ali Zardari emphasized the need for stronger cooperation with the Commonwealth in addressing climate change, education, parliamentary exchanges, and disaster preparedness during a meeting with Commonwealth Secretary-General Patricia Scotland at Aiwan-i-Sadr on Tuesday. President Zardari highlighted the severe impact of erratic weather patterns on Pakistan, particularly the extensive damages from the 2022 floods. He mentioned the Sindh government’s initiative to build two million flood-resilient houses and the planting of over two million mangroves to combat climate change effects. Ms. Scotland acknowledged Pakistan’s significant climate challenges and its…

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NEPRA Faces Criticism as K-Electric Seeks Rs5.50 per Unit FCA Hike

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NEPRA-KE

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) faced severe criticism from political and business circles in Karachi on Tuesday after K-Electric requested an additional fuel cost adjustment (FCA) of Rs5.45 per unit for May and June. The private power utility demanded an additional FCA of Rs2.53 per unit for May and Rs2.92 per unit for June, amounting to a total financial impact of Rs10.036 billion. Led by Chief Financial Officer Aamir Ghaziani, K-Electric’s team pointed out that consumers of other ex-Wapda distribution companies had already been subjected to an…

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Macroeconomic stability must before taking growth-oriented steps: Aurangzeb

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macroeconomic

KARACHI: Federal Minister for Finance & Revenue Muhammad Aurangzeb has said that efforts were being made to attain macroeconomic stability for sustainable growth because if the government, without attaining macroeconomic stability, takes growth-oriented steps which was done in the past, it would face balance of payment issue so there was no choice but to take difficult decisions for macroeconomic stability which, when achieved, would reduce the burden on business community as well as salaried class.Speaking at a meeting during his visit to the Karachi Chamber of Commerce & Industry (KCCI)…

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Special Economic zone will establish on remaining steel mills land , Steel Mill to be revitalized: CM

Admin
steel-mill

KARACHI (July 30): Sindh Chief Minister Syed Murad Ali Shah and Federal Minister for Industries & Production Rana Tanveer, in their meeting at CM House, discussed the revival of the Pakistan Steel Mill plan and the establishment of a Special Economic Zone on the remaining land. The meeting was attended by Provincial Minister Industries Jam Ikarm Dharejo, Chief Secretary Asif Hyder Shah, PSCM Agha Wasif, Secretary Industries Yasin Shar, and the Federal Minister was assisted by Federal Secretary for Industries Saif Anjum and his team. The chief minister said that…

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