Category: Popular News

Solar Industry Warns 18% GST on Imported Panels Could Derail Pakistan’s Clean Energy Progress

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KARACHI: Pakistan’s renewable energy sector has sounded the alarm over the government’s proposed 18% General Sales Tax (GST) on imported solar panels, cautioning that the move could reverse recent gains in clean energy adoption, raise electricity costs, and negatively impact consumers, businesses, and farmers. Solar energy has emerged as a critical alternative amid rising fossil fuel prices and mounting electricity bills. However, stakeholders argue that this tax threatens to make solar installations unaffordable, curbing demand and undermining the national energy transition. “An 18% GST on imported solar panels could derail…

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Govt rolls out plan for affordable electricity

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affordable electricity

Pakistan, June 11 — Federal Minister for Finance Senator Muhammad Aurangzeb on Tuesday said the government has developed a comprehensive plan to obtain affordable electricity, making cheaper power accessible in the coming days. During budget speech 2025-2026, he said, under this plan, savings of more than PKR 4,000 billion have been achieved, and 9,000 MW of expensive power plants, which were to be added to the national grid, have been abandoned. He informed that for 18 million deserving and protected consumers, electricity prices have been reduced by over 50%..He added…

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Oil up on hopes of positive US-China trade talks

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Oil falls

NEW YORK: Oil prices edged up 1% to a seven-week high on Tuesday on hopes trade talks between the US and China – the world’s two biggest economies – will result in a deal that could support global economic growth and boost oil demand. Brent crude futures rose 81 cents, or 1.2%, to $67.85 a barrel by 11:22 a.m. EDT (1522 GMT), while US West Texas Intermediate crude rose 83 cents, or 1.3%, to $66.12. Those gains pushed both crude benchmarks into technically overbought territory for the first time since…

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Oil rises to 7-week high on US-China trade deal

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Oil price

LONDON: Oil prices rose to their highest in seven weeks on Wednesday as U.S. President Donald Trump said a deal had been done with China, heightening expectations of a de-escalation in trade tensions between the world’s two largest economies. Brent crude futures were up $1.15, or 1.7%, to $68.02 a barrel at 1249 GMT, while U.S. West Texas Intermediate crude was up $1.31, or 2%, to $66.29. At that level, WTI reached its highest in more than two months. Trump said Beijing would supply magnets and rare earth minerals and…

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Petroleum Carbon Levy Introduced as Pakistan Ups Climate Budget to 8.2pc

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petrol-price

ISLAMABAD: In a major policy shift to fund climate adaptation and discourage fossil fuel use, the federal government has proposed a Rs2.5 per liter carbon levy on petrol, high-speed diesel, and furnace oil in the FY2025-26 budget. This levy will double to Rs5 per litre in the following fiscal year. Additionally, a petroleum levy on furnace oil will also be enforced. This new carbon pricing measure is part of Pakistan’s broader climate strategy, reflected in the allocation of 8.2 per cent of the development budget and 6.9 per cent of…

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