Category: Highlights

Government Prepares for Heavy Taxation Budget Amid Tough IMF Conditions

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The government is set to present its first budget since its inauguration in March, facing stringent conditions imposed by the International Monetary Fund (IMF). Local economists predict the budget will result in heavy taxation and increased inflation. Negotiations between the finance ministry and the IMF are ongoing as the government grapples with the loaning agency’s tough demands. These include increasing the tax revenue target, withdrawing subsidies, taxing the agriculture sector, raising levies and taxes on power, gas, and oil sectors, privatizing struggling government organizations, and improving administrative efficiency. Last fiscal…

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Pakistan’s Federal Minister for Power Awais Leghari visited LONGi

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On June 8, 2024, Awais Leghari, the Federal Minister for Power of the lslamic Republic of Pakistan, visited LONGi’s headquarter, in Xi’an. Mr. Li Zhenguo, founder and President of LONGi, attended and led his Excellency to visit the LONGi Green Energy Smart Energy Exhibition Hall, introducing in detail, the development history of the photovoltaic industry, LONGi’s history, business segments, R&D innovation, overseas layout and the company’s vision and mission.It is very suitable for the development of solar power in Pakistan, given its large population and abundant sunshine resources of 2800-3000…

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President Removes Hurdle to Sacking DISCOs’ Boards

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Promulgates Ordinance Empowering Govt to Remove Independent Directors of SOEs ISLAMABAD: Hours before the parliamentary sessions began, President Asif Ali Zardari promulgated an ordinance to eliminate a legal barrier preventing the government from dismissing the boards of loss-making power distribution companies (DISCOs). The State-Owned Enterprises Governance and Operations Amendment Ordinance 2024, effective from June 5, 2024, grants the government temporary legal authority to remove independent directors on the boards of state-owned enterprises (SOEs). The ordinance, issued a day before the scheduled National Assembly and Senate sessions, underscores the government’s preference…

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PM Shehbaz Vows to Follow Chinese Development Model

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Pakistan-China

ISLAMABAD: Prime Minister Shehbaz Sharif lauded the Chinese development model on Thursday, asserting that Pakistan could become a great nation by emulating this model through diligent effort and a strong focus on industrial and agricultural growth. “All Pakistanis will also have to pass through this thorny process. There is no other way to earn respect in the world,” the prime minister declared at the 4th Pakistan-China Friendship and Business Reception in Beijing. Earlier, PM Shehbaz met with Ambassador Luo Zhaohui, Chairman of the China International Cooperation Agency (CIDCA), discussing the…

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Hopewind Powers China’s largest standalone environmental desert control PV project

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Hopewind has significantly contributed to the construction of China’s largest standalone environmental desert control photovoltaic (PV) project. Situated in the Kubuqi Desert, Mengxi Base, this 2GW project is groundbreaking in its scale and impact. Project Significance The Kubuqi Desert project is crucial for improving the ecological environment of the “Jiziwan” basin of the Yellow River and the Kubuqi Desert. It sets a valuable precedent for the application of PV sand control technology in desert areas. With an installed capacity of 2GW, the project aims to rehabilitate and control 6,667 hectares…

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