Category: Highlights

New terms with IPPs to help govt save Rs120 billion every year

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ISLAMABAD: On payment of the first tranche of outstanding undisputed payables to IPPs in line with the revised contracts, revised terms have become effective, which will result in saving of at least Rs120 billion a year. These major revised terms include rupee based return instead of USD based maximum 17pc per annum in PKR fixed at Rs. 148 USD without any future USD linkage, besides reducing the rate of return for local and foreign investors to 12pc USD instead of 15pc USD. Sources in the Finance Ministry told this correspondent…

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Sindh Government Announces Interest-Free Loans for Solar System Installations

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The Sindh government has introduced an initiative to provide interest-free loans to the middle class for installing solar systems. Sindh Energy Minister Syed Nasir Hussain Shah announced this while addressing the media at his residence, where he also extended Eid greetings and urged people to remember the martyrs. During his address, Minister Shah acknowledged the region’s various issues and highlighted the government’s efforts to alleviate these problems through the budget. He emphasized that ongoing schemes have been prioritized and assured that promises made to the public will be fulfilled. Additionally,…

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Murad Ali Shah Chairs Meeting Between STDC and Gul Ahmed Group

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New-Project

Karachi– Sindh Chief Minister Syed Murad Ali Shah chaired a crucial meeting between Sindh Transmission and Dispatch Company (STDC) and the private partner Gul Ahmed Group. Gul Ahmed is setting up a 100 MW power plant in Jhimpir. STDC will lay a 60-kilometer transmission line from Jhimpir to the Landhi Industrial Area. Provincial Energy Minister Nasir Shah emphasized the significance of this public-private partnership, stating, “This will revolutionize industrial development by delivering electricity from Jhimpir to the industrial area.” The Chief Minister reflected on the formation of STDC, noting that…

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Budget 2024-25: Power, Defence, and Election Expenses Exceed Allocations

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Budget-2024-25

ISLAMABAD: During the fiscal year 2023-24, at least 38 government departments exceeded their allocated budgets, necessitating additional funds through supplementary and technical grants, according to the Finance Division’s details of current expenditure. Key Departments Exceeding Allocations: Power Division: Spent Rs769.7 billion against an allocation of Rs450.5 billion, requiring an additional Rs319.1 billion.Defence Services: Allocated Rs1.8 trillion, but expenditures reached Rs1.835 trillion, necessitating an extra Rs31.5 billion.Defence Division: Required Rs20 billion against an allocated budget of Rs6 billion.Election Expenses: Spent over Rs39 billion against an allocation of Rs7.7 billion, mainly due…

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Latest Petrol Price In Pakistan

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Petroleum-prices

The government on Friday slashed the prices of petrol and high-speed diesel (HSD) for the next fortnight by Rs10.2 and Rs2.33, respectively. In a notification, the finance ministry said the prices of petroleum products had seen a mixed trend in the international market in the last fortnight. It said Ogra had worked out the consumer prices based on the international market price variations. It said the new petrol price was Rs258.16 per litre and that of HSD was Rs267.89. The Prime Minister’s Office termed the reduction a gift from the…

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