Category: Recent Post

The Pakistan International Airlines while actively contributing in the Clean and Green Pakistan initiative of the government is planting 50,000 trees in the current year alone across its different stations in the country. This was disclosed by Muhammad Shoaib, company secretary PIA, while speaking at a tree plantation ceremony at PIA Township to mark the 74 Independence Day of Pakistan. The tree plantation ceremony at PIA Model Secondary School was jointly organized by the Federation of Pakistan Chambers of Commerce & Industry, PIA, and National Forum for Environment and Health…

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The Committee for negotiations with Independent Private Power Producers (IPPs), had several rounds of discussions and the IPPs have agreed to alter their existing contractual arrangements to the extent of, and strictly with respect to, the matters listed under a Memorandum of Understanding (“MoU”) signed. The MoU had the following key highlights: • The MoU states that IPPs and government have agreed that savings achieved in oil-based projects will be shared through a sliding scale starting from 70:30 in favor the government for the first 0.5% efficiency improvement above currently…

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The government recently announced successful negotiations with Independent Power Producers (IPP) which can be heralded as a victory for the economy at large. Among other technical points agreed between the Government, and the IPPs, the most crucial point pertains to fixing Return on Equity (RoE) at certain fixed rates. We try to unbundle, and explain in simpler terms, what it all actually means, and how it will benefit the economy. The two key points are: RoE for local investors fixed at 17% with USD-PKR parity of 148, and no indexation…

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LAHORE: Prime Minister Imran Khan on Friday announced that the government has signed a new agreement with the independent power producers (IPPs) whereby the cost of electricity generation would be brought down and circular debt reduced. In a series of tweets, Premier Imran said, “I congratulate the nation because we are fixing the damaging structure we inherited in our power sector.” The IPPs, in the larger national interest under the 1994 and 2002 power policy, have voluntarily agreed to provide concessions, according to an official document available with The Express…

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Karachi — Pakistan’s apex court has allowed the government to collect a pending gas infrastructure development tax amounting to billions of dollars from fertilizer, power, chemicals and cement companies, according to the court’s verdict Aug. 13, a move that would help policymakers to use the funds to develop gas projects. But in 2016, the companies took the battle to court and appealed in the Supreme Court against the tax. As a result, the government had not been collecting the gas infrastructure tax since 2016. According to court documents, the outstanding amount…

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