Category: Recent Post

Federal Minister for Economic Affairs Omar Ayub Khan has emphasised that the 5th Extension of Tarbela hydropower project will help meet rapidly increasing requirement of water and electricity in the country. “It will also improve energy security by increasing the share of clean and affordable energy in the country’s energy mix,” he added, according to a statement issued on Monday. Chairing a high-level meeting with a World Bank team to review the progress on Tarbela’s 5th Extension, the minister directed the relevant authorities to remove all bottlenecks, address the impending…

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The government on Monday asked the National Electric Power Regulatory Authority (Nepra) to immediately approve first part of its three-phased subsidy rationalisation plan envisaging creation of four new tariff slabs and a slight expansion in the definition of lifeline consumers to 100 units per month for gradual reduction of electricity subsidies. Nepra conducted the public hearing on the subsidy rationalisation plan that has been agreed to with the lending agencies – the World Bank and the International Monetary Fund. Presided over by Chairman Tauseef H. Farooqi and attended by all…

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The World Bank has, reportedly, conveyed its serious reservations to the top government authorities for not honouring their commitment regarding increase in electricity tariff as per the February 2021 agreement, and seeking a new deadline for a hike in base tariff, well-informed sources told Business Recorder. The PTI government, sources said, has increased electricity tariff by 40 per cent since it came to power of which Rs 2.17 per unit is base tariff. Last week World Bank’s delegation led by their Vice President for South Asia, Hartwig Schafer held meetings…

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Special Assistant to Prime Minister on Power and Petroleum Tabish Gauhar has decided to squeeze his role up to giving his advice as a technocrat to the government for policy level decisions and energy sector reforms. He also started avoiding attending crucial meetings held on the operational level. According to the top sources at the Energy Ministry, Tabish Gauhar, if asked to tender resignation, would be only because of his technical advice on the North-South Gas Pipeline, which has been renamed as Pakistan Stream Gas Pipeline (PSPG). The sources close…

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The debate on premature de-industrialisation in developing economies hinges on the premise that open trade, elimination of protective tariffs and withdrawal of subsidies are harmful for local industries. In the case of auto policy, the proponents of this debate devised import substitution policies, which led to the deletion programme. Thus, while it helped local auto parts industry to develop, it gave rise to a protected auto industry, which has continued to flourish on the back of tariffs and other incentives. The government and automobile industries are the main beneficiaries as…

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