Author: Admin

ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday directed authorities to accelerate the privatisation of key electricity distribution companies (Discos), underscoring the government’s commitment to power sector reforms aimed at improving efficiency and reducing fiscal burdens on the national economy. Chairing a high-level meeting to review progress on the privatisation programme, the prime minister emphasized that the divestment of government stakes in distribution companies must be conducted in a transparent, competitive, and efficient manner to strengthen investor confidence and maintain public trust. He also instructed relevant authorities to establish a strong…

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ISLAMABAD: Pakistan is set to witness one of its largest energy-sector investments as SPEC Refinery Pvt Ltd advances plans to establish the country’s first deep-conversion greenfield refinery at Hub, Balochistan, with an estimated investment of $4.5 billion. The development was discussed during a meeting between Federal Minister for Commerce Jam Kamal Khan and a delegation of SPEC Refinery Pvt Ltd led by its Chairman, Zafar Sheikh, according to an official statement issued on Wednesday. During the meeting, the delegation briefed the minister on the project’s progress and underscored its strategic…

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ISLAMABAD: The government is considering imposing up to 25 percent sales tax on imported electric vehicles (EVs) in the upcoming federal budget, while existing concessional tax rates for hybrid vehicles are expected to remain unchanged for the next fiscal year, sources told Business Recorder. Several sales tax exemptions currently available to the EV sector are scheduled to expire on June 30, 2026. Among them is the exemption on the import of completely knocked down (CKD) kits for electric vehicles by local manufacturers. The exemption presently covers small electric cars and…

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ISLAMABAD: The Federal Constitutional Court (FCC) has admitted two constitutional petitions challenging the imposition of the petroleum levy and recent increases in petroleum product prices, marking a significant legal development in the ongoing debate over fuel taxation and pricing policies. According to court sources, the FCC registrar has formally allotted case numbers to both petitions, allowing them to proceed for judicial consideration. One petition was filed by Jamaat-e-Islami chief Hafiz Naeemur Rehman, who has urged the court to direct the establishment of an independent, expert-assisted commission to examine the constitutional,…

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KARACHI: The federal government’s increasing reliance on the petroleum levy is driving cost-push inflation across the economy, while higher interest rates imposed by the State Bank of Pakistan (SBP) are adding further pressure on businesses and households, according to a new research paper released by the Policy Research and Advisory Council (PRAC). The report argues that Pakistan’s fiscal and monetary policies are working at cross purposes. While the government raises revenue through higher petroleum levies, contributing directly to inflation, the central bank responds by tightening monetary policy, increasing borrowing costs…

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