Category: Highlights

ISLAMABAD: In another development, the government is all set to increase power tariff by Rs3.4-3.9 per unit under the head of FCA (Fuel Charges Adjustment) for the consumers utilising 300 units a month and private agriculture consumers. The Power Division (PD) to this effect has sent a summary to ECC that meets today (Wednesday), seeking approval of passing the net increase of Rs3.4-3.9 per unit in electricity tariff with impact of Rs17 billion under the head of FCA for the period starting from November 2019 to June 2020 arguing it…

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ISLAMABAD: The Cabinet Committee on Energy (CCoE) has approved the Circular Debt Management Plan (CDMP) 2021 to ensure effective management of the rising debt. Planning, Development and Special Initiatives Minister Asad Umar chaired the CCOE meeting on Monday. The meeting discussed the summary of the comprehensive CDMP, which covers the three-year period from the fiscal year 2020-21 to FY2022-23, describes mechanisms and initiatives to address the issue, and suggests an action plan to control the flow of circular debt with a monitoring matrix. The committee also discussed the need for fast-tracking…

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Gwadar port of Pakistan is a gateway to the shortest and more economical route to the landlocked Central Asian Republics (CARs). The trade from Gwadar port to CARs will reduce the distance to 50 percent as compared to the distance from Iran, and freight charges less by around 30 percent. The increased trade activities with CARs will generate more jobs, increase tax collections because of the increase in the volume of goods. Prime Minister Imran Khan in a statement recently said that Pakistan’s Karachi and Gwadar ports could become “the…

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ISLAMABAD: Former premier Shahid Khaqan Abbasi has told the country’s top corruption watchdog body that he and his ministry made appointments of CEOs on merit in public limited companies. Abbasi was responding to NAB’s questionnaire which sought information under Section 19 of NAO, 1999 in an inquiry against officers/officials of government who according to the bureau were illegally appointed by his ministry in public companies and provision of funds in billions of rupees in violation of relevant rules. In response to the first question pertaining to alleged illegal appointment of…

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Islamabad – The government is planning to transfer the burden of Rs 1060 billion to the power consumers during next 27 months (March 2021-June 2023) to reduce the circular debt (CD) under the Circular Debt Management Plan 2021 (CDMP-21). Under the Circular Debt Management Plan (CDMP) it is proposed that Rs 194 billion will be collected through quarterly adjustments, while Rs 866 billion will be collecting through increasing/ rebasing in power tariff which will be used to reduce the CD, official source told The Nation. The Cabinet Committee on Energy…

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