Category: Recent Post

ISLAMABAD: The Advisor to Prime Minister on Finance Abdul Hafeez Shaikh has approved plan for golden handshake to the employees of the state-owned Pakistan Steel Mills (PSM), citing sources, ARY News reported on Wednesday. The plan was approved by PM’s aide on finance Abdul Hafeez Shaikh while chairing the meeting of Economic Coordination Committee (ECC) to discuss a six-point agenda today. The committee also approved Rs19.65 billion funds for golden handshake plan for PSM employees. Moreover, Rs11.6 billion funds were allocated for the clearance of dues of non-petitioner employees of the state…

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The former chief executive officer of K-Electric Tabish Gauhar has been appointed as the Special Assistant to Prime Minister (SAPM) Imran Khan on Power. According to a notification issued today by the Cabinet Division, said that the PM has been pleased to appoint Tabish Gauhar as Special Assistant to the Prime Minister on Power with immediate effect. The notification added that Gauhar’s appointment shall be in an honorary capacity. Gauhar served as KE CEO for six years before resigning in 2015. He is also the founder and chairman of Oasis…

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ISLAMABAD: The Federal Board of Revenue (FBR) has signed a memorandum of understanding (MoU) with Pakistan Sugar Mills Association (PSMA) to operationalize Video Analytics Rules, 2020, for the sugar sector. FBR Member (IR-Operations) Dr Muhammad Ashfaq Ahmed and PSMA Central President Iskandar Khan signed the MoU on behalf of their respective organizations during a ceremony held at the FBR headquarters in Islamabad. FBR had recently issued Video Analytics Rules, 2020, vide SRO 889(I)/2020, for electronic monitoring of specified goods. Welcoming the PSMA central chairman and other members, Dr Muhammad Ashfaq Ahmed…

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ISLAMABAD: The government has granted zero-rated export-oriented industries special concessions in power and gas tariffs with an aim to spur exports that are stuck in a downward spiral for long, an notification said on Wednesday. Ministry of Energy (Power Division) in its notification said, for this purpose, an amount of Rs10 billion, available to petroleum division for RLNG, had been transferred to the power division. “These special industries will be given a rate of 7.5 cents (¢) per kWh for July & August and 9 ¢/kWh thereafter. For gas, the…

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KARACHI: The government needs to pause any further licencing to power projects as the country sits on surplus generation capacity due to excessive incentives announced for the independent power producers (IPPs), expert said on Wednesday. The speakers told a webinar that electricity should be dealt as a commodity, as this would transfer the risks to investors from the government. Ahsan Zafar, chief executive officer of Engro Energy said if the GDP grows at a rate of 4.5 percent, there will be a 3,500MW electricity surplus by 2025. “We do not…

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