Category: Highlights

NEPRA Demands Recovery Plan from TESCO Amid Tax Relief Withdrawal and Metering Issues

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Nepra

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has sought a comprehensive recovery plan from the Tribal Areas Electricity Supply Company (TESCO) in anticipation of potential government withdrawal of tax exemptions for industrial consumers and the metering of domestic consumers. This inquiry arose during NEPRA’s review of TESCO’s five-year (2025-26 to 2029-30) Investment and Business Plan, which includes an approved investment of Rs. 14 billion. Currently, TESCO supplies electricity for four hours daily to non-metered domestic consumers, with their bills covered by federal budget allocations. Meanwhile, industrial consumers are exempt…

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Pakistan Launches Ambitious “Uraan Pakistan” Initiative to Transform Economy

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Uraan-Pakistan

Islamabad, January 1, 2025 — Pakistan has officially unveiled the Uraan Pakistan initiative, an ambitious roadmap to propel the country towards becoming a $1 trillion economy by 2035 and a $3 trillion economy by 2047. Built on the transformative 5Es Framework, the initiative emphasizes five key pillars: Exports, E-Pakistan, Environment, Energy & Infrastructure, and Equity, Ethics & Empowerment. Prime Minister Shehbaz Sharif, in his address during the launch event, emphasized the importance of holistic economic reforms to unlock Pakistan’s potential. “With Uraan Pakistan, we aim to set a new trajectory…

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Turkey Increases Fuel Tax by 6% Amid Inflation Control Efforts

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Fuel-Tax

ANKARA: Turkey has raised its special consumption tax on fuel by 6%, according to a presidential decree published in the Official Gazette on Tuesday. The move comes as the government aims to manage inflation while maintaining fiscal stability. The tax adjustment, implemented every six months based on the producer price index (PPI), reflects a cumulative five-month PPI increase of 7.12%. Despite the hike, Finance Minister Mehmet Simsek assured that recent tax measures on fuel and tobacco are designed not to affect Turkey’s inflation goals for 2025. Fuel taxes often impact…

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NEPRA Highlights Persistent Challenges in Pakistan’s Power Sector

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New-NEPRA

ISLAMABAD: The State of the Industry Report 2024, released by the National Electric Power Regulatory Authority (NEPRA), reveals critical inefficiencies in Pakistan’s power sector, exacerbating high electricity costs and impacting consumers nationwide. Despite an installed generation capacity of 45,888 MW, underutilization remains a significant issue, with only 33.88% utilization recorded for FY 2023-24. Consumers bear the financial burden of 66.12% unutilized capacity, leading to elevated tariffs. NEPRA underscores the urgent need for operational reforms, particularly in addressing transmission and distribution losses, which climbed to 18.31%, far exceeding the allowed 11.77%.…

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UAE Envoy Highlights Vast Opportunities for Cooperation in Renewable Energy Sector

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Renewable-energy

LAHORE: United Arab Emirates (UAE) Ambassador to Pakistan, Hamad Obaid Al Zaabi, emphasized the immense potential for collaboration between Pakistan and the UAE in the renewable energy sector. During a meeting with Punjab Governor Sardar Saleem Haider Khan at the Governor House, the two leaders discussed avenues for enhancing bilateral ties, particularly in economic and energy sectors. Ambassador Al Zaabi highlighted the UAE embassy’s efforts to address visa-related challenges, an issue also raised by Governor Haider, who expressed concern over the difficulties faced by Pakistani citizens, especially students, in obtaining…

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