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Col. (R) Muhammad Tariq Khattak, Chairman Renewable & Alternative Energy Association of Pakistan (REAP) today (Friday) briefed the following Senators of Finance Revenue and Economic Affairs, Standing committee along with the Chairman FBR, at Senate Islamabad, Senator Muhammad Talha Mahmood, Chairman, Senator Syed Faisal Ali Subzwari Senator Ms. Sheri Rahman, Senator Mohsin Aziz Senator Farooq Hamid Naek Chairman FBR The Chairman REAP highlighted the biased impact of the proposed 17% GST on Solar products, besides a number of other key challenges faced by the member companies of the association, in…

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The crude oil respite has so far appeared short-lived, putting the government in a tight spot again, in terms of the import bill and the revenue collection target on petroleum products. As oil marches back to $80/bbl. and onwards, the hopes of substantially raising petroleum revenues stand to get a setback. This is despite the government’s plans to raise Petroleum Levy by Rs4/ltr every month. The PL collection has staged a comeback of sorts – rising every month from July to December, from Rs1.5 billion in July to over Rs22…

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M/s Hubco has served dispute notice to Central Power Purchasing Agency –Guaranteed (CPPA-G) under Power Purchase Agency (PPA) on deductions made in the company’s Capacity Purchase Price (CPP) invoice for the period of July-September 2021, well informed sources told Business Recorder. M/s Hubco’s Chief Executive Officer (CEO), Kamran Kamal, in a letter to CEO, CPPA-G has elaborated on the reasons for sending dispute notice to the power purchaser. According to Kamal, the letter is a continuation of various discussions, WhatsApp messages, Hubco’s letter of November 12, 2021 and subsequent exchange of…

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Power Division is said to have paid over Rs 60 billion to 12 IPPs of Power Policy 2002, 40 per cent of total agreed amount as first instalment, well informed sources told Business Recorder. The following IPPs has been paid 40 per cent of the agreed amount: (i) Atlas Power- RFO; (ii) Attock Gen- RFO;(iii) Engro Energy-gas ;(iv) Saif Power- RLNG ;(v) Halmore Power- RLNG;(vi) Hub Power(Narowal) – RFO ;(vii) Liberty Power- RFO ;(viii) Nishat Power- RFO;(ix) Orient Power- RLNG ;(x) Foundation Power (Dharaki)- gas;(xi) Nishat Chunian and (xii) Saphire Electric…

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Minister of State for Climate Change Zartaj Gul Thursday said the incumbent government is committed to protect public health and environment from devastating impacts of toxic chemicals and hazardous waste materials through their management in scientific manner. Addressing a national event here, the state minister noted that management of hazardous waste materials in improper and unscientific manner over the years in the country and their collection, treatment, and disposal of waste material had been causing significant harm to human health and the environment. “But, now in the light of the…

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