Category: Highlights

New power bills proposal sent to IMF

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IMF-demand

ISLAMABAD: After the rejection of the first one, the caretaker government has sent a fresh proposal to the International Monetary Fund (IMF) that the additional money allocated for the independent power producers (IPPs) could be adjusted to provide relief to the consumers, who were protesting against the exorbitant rise in their electricity bills. Finance ministry sources said under the new plan, an amount of over Rs15 billion would be allocated back to IPPs after receiving instalments from the bills. The sources added that the finance ministry officials would discuss the…

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Karachiites Likely to Face Another Massive Hike in Electricity Bills

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KE

An appeal for a price hike in electricity rates in Karachi has been formally submitted, with a request for an increment of 10 rupees and 32 paise per unit. The application, directed to Nepra, encompasses three separate quarterly adjustments for the fiscal year 2022-23.In the submission presented by the government to Nepra, the initial quarterly adjustment for the period of October-December 2022 has sought a raise of 47 paise, while the subsequent quarterly adjustment for July-September 2022 is targeted at an increase of Rs 4.45 per unit. The application forwarded…

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Iran ready to support for energy needs of Pakistan

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Muhammad-Ali

Islamabad. Ambassador of the Islamic Republic of Iran to Pakistan H.E. Dr. Reza Amiri Moghaddam called on Caretaker Federal Minister for Power and Petroleum Muhammad Ali today in Islamabad. Both sides discussed areas of mutual interest and promotion of brotherly relations between two countries.The Energy minister welcomed the Iranian ambassador and expressed his resolve for further strengthening the ties. Ambassador extended his good wishes for the minister upon assuming new portfolio. Muhammad Ali remarked that Iran and Pakistan have huge potential for cooperation in energy sector. “We are keen to…

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Petroleum Prices Government has Failed to Read the Writing on the Wall Irfan Iqbal Sheikh

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irfan-iqbal-sheikh-fpcci

Karachi . Irfan Iqbal Sheikh, President FPCCI, has unequivocally stated that the government has no clue that what will be the socioeconomic repercussions of the third massive hike in petroleum prices as FPCCI can see the inflationary pressures to mount beyond the control of any sector or industry to absorb. Industrial shut downs; decline in exports; dwindling domestic demand; social unrest; unemployment and non-existent economic growth will follow, he added. Mr. Irfan Iqbal Sheikh maintained that the most glaring and worrisome aspect of the last few hikes is that the…

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OSH compliance crucial for exporters: Dr. Gohar Ejaz

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Gohar-Ejaz

KARACHI: Dr. Gohar Ejaz, Minister of Commerce, Production & Industry, stated that it is imperative that Pakistani exporters, especially textile related, must comply with all ILO International Labor Standards including Occupational Safety and Health Standards(OSH), in order to manifest their progressive march towards achieving the objectives of huge increase in exports. He was talking to a delegation of Employers Federation of Pakistan(EFP) consisting of President Malik Tahir Javaid, Former President Majyd Aziz, and Member Board of Directors Mian Akram Farid, in his office in Islamabad. The Commerce Minister added that…

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