Author: Admin

SIFC Supports Refinery Demands, Advocates Budget Measure Reversal

Admin
Refinery-Limited

ISLAMABAD: The Special Investment Facilitation Council (SIFC) endorsed refineries’ demands on Thursday, backing the withdrawal of budgetary measures that threaten the closure of refineries and jeopardize a $6 billion plant upgrade program. In a high-level meeting attended by refinery representatives and officials from the Petroleum Division, Ministry of Finance, and Federal Board of Revenue (FBR), executives highlighted the negative impacts of sales tax exemptions for petroleum products. This exemption prevents refineries from claiming significant input tax refunds on purchases and services. Additionally, a 2% customs duty on imported equipment further…

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Chairman WAPDA Reviews K-IV Project Progress: 46% Completion Achieved

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WAPDA-Chairman

Rs. 59.5 Billion Spent; Phase-I Targeted for December 2025 Completion Chairman WAPDA, Engr Lt Gen Sajjad Ghani (Retd), visited the Greater Karachi Bulk Water Supply Scheme, K-IV, to review the construction progress at various sites, including intake works, pumping stations, pressurized pipeline, access road, project offices, and project colony. General Manager (Projects) South and Project Director Amir Mughal provided a detailed briefing on the contract-wise progress, timelines for remaining work, and plans to meet targets. Financial progress and the requirement of funds to complete the project on schedule were also…

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Pakistan, Turkmenistan to Fast-Track TAPI Project for Regional Energy Cooperation

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TAPI-gas

ISLAMABAD: High-ranking officials from Pakistan and Turkmenistan have committed to accelerating the execution of the long-anticipated TAPI (Turkmenistan-Afghanistan-Pakistan-India) gas pipeline project. This strategic pipeline aims to deliver gas from Turkmenistan through Afghanistan and Pakistan, ultimately reaching India. Federal Minister for Petroleum Dr. Musadik Malik highlighted the significant benefits of the TAPI project, stating, “The TAPI pipeline project will lower energy costs, boost industrial growth, create jobs, and foster economic development.” He emphasized the necessity of reliable and affordable energy supplies for industrial sectors and overall economic stability. Dr. Malik met…

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Government Faces Hurdles in Appointing KE Director Due to Court Stay Order

Admin
circular-debt-K-electric-ceo

ISLAMABAD: Legal disputes among K-Electric (KE) shareholders have hindered the federal government’s efforts to appoint new directors to the company’s board. At a recent high-level meeting chaired by Prime Minister Shehbaz Sharif, the cabinet approved the appointment of a new independent director to replace the previously approved member. The Power Division informed the meeting that KE, a private corporate entity, is registered with the Securities and Exchange Commission of Pakistan (SECP). According to the 2005 share purchase agreement, the Government of Pakistan holds a 24.36% stake in KE, ICES Power…

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Proposed Power Tariff Hike of Rs2.63/unit Under Review by NEPRA

Admin
Nepra-Price

ISLAMABAD: Electricity consumers may soon face an additional financial burden with a proposed power tariff increase of Rs2.63 per unit due to the Fuel Charges Adjustment (FCA) for electricity consumed in June 2024. The Central Power Purchasing Agency (CPPA), representing distribution companies (DISCOs), has requested this hike in a formal application to the National Electric Power Regulatory Authority (NEPRA). The application details that the reference fuel charges collected from consumers for June were Rs7.1403 per unit, while the actual cost per unit was Rs9.7710. In response, NEPRA has scheduled a…

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