Category: Shortcode

Government Announces Rs 50 Billion Subsidy for Low-Income Households

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Musadik-Malik

ISLAMABAD: Federal Minister for Petroleum Musadik Malik announced a Rs 50 billion energy subsidy package on Tuesday, aimed at low-income households consuming up to 200 units of electricity. This initiative will benefit 86 percent of households, ensuring they retain last year’s power tariff. Additionally, Rs 600 billion has been allocated for the Benazir Income Support Programme (BISP) to assist the poor. The recent budget also includes development projects worth Rs 1,200 billion. Minister Malik highlighted the country’s economic progress, noting a bullish trend in the stock exchange and a rise…

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President and Commonwealth Secretary Discuss Climate Challenges

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Asif-Zardari

ISLAMABAD: President Asif Ali Zardari emphasized the need for stronger cooperation with the Commonwealth in addressing climate change, education, parliamentary exchanges, and disaster preparedness during a meeting with Commonwealth Secretary-General Patricia Scotland at Aiwan-i-Sadr on Tuesday. President Zardari highlighted the severe impact of erratic weather patterns on Pakistan, particularly the extensive damages from the 2022 floods. He mentioned the Sindh government’s initiative to build two million flood-resilient houses and the planting of over two million mangroves to combat climate change effects. Ms. Scotland acknowledged Pakistan’s significant climate challenges and its…

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NEPRA Faces Criticism as K-Electric Seeks Rs5.50 per Unit FCA Hike

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NEPRA-KE

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) faced severe criticism from political and business circles in Karachi on Tuesday after K-Electric requested an additional fuel cost adjustment (FCA) of Rs5.45 per unit for May and June. The private power utility demanded an additional FCA of Rs2.53 per unit for May and Rs2.92 per unit for June, amounting to a total financial impact of Rs10.036 billion. Led by Chief Financial Officer Aamir Ghaziani, K-Electric’s team pointed out that consumers of other ex-Wapda distribution companies had already been subjected to an…

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APTMA Demands Transparency in IPP Deals

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APTMA-logo

ISLAMABAD: The All Pakistan Textile Mills Association (APTMA) has formally requested detailed information on independent power producers (IPPs) from the government, invoking the Right of Access to Information Act to promote transparency in the power sector. APTMA’s request aims to foster transparency and accountability in public matters, using the information for research and analysis to better understand the governance and policy implementation in the power sector. Letters have been sent to key government officials, including the Secretary of the Power Division, the Chief Executive of the Central Power Purchase Agency…

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100% Tax Credit for Sindh Coal Miners Supplying Power Plants

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FBR-Tex

ISLAMABAD: The Federal Board of Revenue (FBR) has granted a 100 percent tax credit to coal mining projects in Sindh that exclusively supply coal to power generation projects within the province. This update is part of the amendments introduced in the Finance Act 2024, as detailed in the FBR’s income tax circular number 1 of 2024 issued on Monday. The amendment to Section 65F clarifies that this tax credit applies solely to income derived from coal mining operations in Sindh, intended exclusively for power generation projects. Other income sources are…

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