Category: Latest News

ISLAMABAD: The Special Investment Facilitation Council has assured that a major tax distortion affecting Pakistan’s oil refining sector will be addressed in the upcoming federal budget for 2026-27, paving the way for long-delayed refinery upgradation projects. The assurance was given by Sajid Mahmood Qazi, Additional Secretary of SIFC, during a question-and-answer session at the CFO Conference 2026 organized by the Institute of Chartered Accountants of Pakistan. Speaking at the event, Qazi acknowledged that Pakistan remains a challenging destination for investment due to persistent issues such as energy pricing, policy inconsistency,…

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ISLAMABAD: The National Electric Power Regulatory Authority has approved a tariff framework for the import of 104MW electricity, along with an additional 100MW supply from Iran’s state-owned power company TAVANIR, at a tariff capped around 12.40 cents per kilowatt-hour (kWh). The approval follows an application submitted by the Central Power Purchasing Agency-Guarantee Limited after the Economic Coordination Committee (ECC) endorsed the extension and expansion of the cross-border electricity agreement in August 2023. Under the proposal, CPPA-G sought continuation of the existing 104MW electricity supply from Iran and approval for an…

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ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday constituted a high-level task force to formulate Pakistan’s first comprehensive national policy on waste-to-energy projects, aiming to promote clean energy generation and attract private sector investment. According to a statement issued by the Prime Minister’s Office, the task force will develop a clear national strategy, institutional framework, and implementation roadmap to advance waste-to-energy initiatives across the country. The proposed policy is expected to facilitate local and foreign investment in the sector while encouraging greater participation from private companies in converting municipal and industrial…

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ISLAMABAD: Following the release of a $1.1 billion tranche to Pakistan, the International Monetary Fund has identified the country’s deep economic reliance on Gulf Cooperation Council (GCC) states as its most significant external vulnerability. In its latest staff report, the IMF cautioned that ongoing regional conflict and instability could adversely affect Pakistan’s economic outlook due to its heavy dependence on Gulf economies for energy imports, remittances, and financial flows. The report highlighted that nearly 81 percent of Pakistan’s fuel imports originate from GCC countries, while around 55 percent of remittances…

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KARACHI: A strong call for urgent and enforceable action against deforestation and unchecked tree cutting echoed at a seminar held at Federation House, Karachi, where environmental experts, journalists, lawyers, and policy advocates expressed grave concern over Pakistan’s rapidly declining forest cover. The seminar titled “Pakistan’s Vanishing Forests: From 5% to 3% — What’s Next?” was organized by the Central Standing Committee on Sustainable Development Goals (SDGs) of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in collaboration with civil society stakeholders. Participants unanimously warned that tree cutting in…

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