Category: Shortcode

Pakistan Petroleum Dealers Announce Nationwide Strike Over Advance Tax

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PPDA-Strike

KARACHI: The Pakistan Petroleum Dealers Association (PPDA) has announced a nationwide strike on July 5 in protest against the government’s imposition of a 0.5% advance turnover tax, ARY News reported. PPDA Chairman Abdul Sami Khan stated that while talks with the government are scheduled for Monday in Islamabad, failure to reach an agreement will result in the closure of petrol pumps across Pakistan. Khan expressed grave concerns about the advance turnover tax, warning that the strike might extend beyond a single day if necessary. He urged the government to immediately…

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Illegal Energization of Feeders: PESCO Alerts Federal Government on Unregistered FIRs

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power-sector

ISLAMABAD: Peshawar Electric Supply Company (PESCO) has alerted the federal government about the ongoing issue of unregistered FIRs against Members of National Assembly (MNAs) and Members of Provincial Assembly (MPAs) involved in the illegal energization of feeders, informed sources told Business Recorder. PESCO cautioned that the simultaneous activation of all high-loss heavy-load feeders on the same power transformers is technically impractical and could lead to system collapse. This would result in prolonged outages, severely impacting compliant consumers. PESCO detailed incidents beginning on June 18, 2024, when unauthorized activities led to…

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Government Seeks World Bank Support for Private Sector Participation in DISCOs’ Privatization

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Power-Projects

ISLAMABAD: The government has approached the World Bank for Non-Lending Technical Assistance (NLTA) to facilitate private sector involvement in the privatization of power Distribution Companies (DISCOs), sources informed Business Recorder. In a letter to the World Bank’s Country Director, the Economic Affairs Division (EAD) stated that the Ministry of Energy (Power Division) seeks the World Bank’s support under NLTA for the following activities to promote private sector participation in DISCOs: Drafting guidelines for private sector involvement and competitive processes for inviting investors/operators.Conducting sector financial sustainability and sensitivity analyses, including developing…

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Serious Design Flaws Identified in 969MW Neelum Jhelum Hydropower Project

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Neelum-Jhelum

ISLAMABAD: Significant design flaws have been identified in the 969MW Neelum Jhelum Hydropower Project in Azad Jammu and Kashmir (AJ&K). The Pakistani government has urged the Chinese company responsible for the project to rectify these issues promptly, sources informed Business Recorder. Built at a cost of over Rs 500 billion, the project has experienced numerous delays and periodic shutdowns, with the latest closure occurring in early May this year. Prime Minister Shehbaz Sharif has commissioned a two-member committee, including former Federal Secretary Shahid Khan and Secretary of Water Resources Syed…

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ECC Approves Petroleum Division’s Natural Gas Sale Pricing Proposals

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gas-meter

ISLAMABAD: The Economic Coordination Committee (ECC), led by Federal Minister for Finance & Revenue Senator Muhammad Aurangzeb, approved the natural gas sale pricing proposals presented by the Petroleum Division. The meeting, held at the Finance Division on Sunday, included key attendees such as Petroleum Minister Musadik Masood Malik, Power Minister Sardar Awais Ahmad Khan Leghari, Minister of State for Finance & Revenue Ali Pervez Malik, representatives from the Oil and Gas Regulatory Authority, federal secretaries, and other senior officials from relevant ministries.

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