Category: Shortcode

Escalating Energy Costs Pose Threat to Industries, Job Market, and Inflation

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power-subsidy

Karachi: Industrialists express concerns over the rising gas and electricity tariffs, warning of potential closures of industries, unemployment surge, and inflationary pressures. President of the Federal B Area Association of Trade and Industry (FBATI), Syed Raza Hussain, highlighted the adverse effects of gas tariff hikes on small and medium-sized enterprises, emphasizing potential job losses and inflationary impacts. Industry leaders, including Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram Sheikh and Hyderabad Chamber of Small Traders and Small Industry President Muhammad Farooq Shaikhani, called for a reevaluation…

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Mayor Karachi Announces Solar Power Transition for KMC Buildings, Establishes 100 Million Endowment Fund for Green Energy Initiatives

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solar-panel

Karachi – Mayor Karachi Barrister Murtaza Wahab has announced the Karachi Metropolitan Corporation’s (KMC) plans to transition its buildings to solar power, fulfilling a promise outlined in the party manifesto. A 100 million rupee endowment fund has been established for global warming and green energy initiatives, with a focus on clean and green energy throughout the city. Despite efforts to remove posters and banners citywide, one individual continues to defy regulations, citing self-importance as the reason. The event took place at Kidney Hill Park, where discussions were held following the…

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SIFC Approves Revised Gas Allocation Priority List

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Gas-Project

The government has decided to overhaul the gas allocation merit order, giving top priority to domestic, commercial (including roti tandoor), and industrial sectors for processing purposes. This decision, approved by the Special Investment Facilitation Council (SIFC), is aimed at stimulating economic activity and ensuring sustained momentum throughout the year. According to a senior official from the Energy Ministry, the revised gas allocation merit order has been endorsed by the Apex Committee of the SIFC, chaired by the Prime Minister and attended by the Chief of Army Staff (COAS), during its…

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Pakistan Plans to Lay 81-Kilometer Gas Pipeline from Gwadar to Iranian Border

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gas-pipeline

In a significant development, Pakistan has announced plans to proceed with the long-pending gas line project within its territory in two phases. The initial phase involves laying an 81-kilometer segment of the pipeline from Gwadar, where Iran has already established its part of the pipeline originating from the gas field. The decision received approval from the Special Investment Facilitation Council (SIFC), which endorsed the strategy to prioritize the construction of the 81-kilometer stretch out of the total planned pipeline span of 781 kilometers, ultimately connecting to Nawabshah. The Petroleum Division…

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Wapda Proposes Sales Tax Deposit for Mangla Power Station to AJ&K

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Mangla-Dam

The Water and Power Development Authority (Wapda) has recommended a formal agreement among stakeholders to direct the sales tax revenue from the Mangla Power Station to the exchequer of Azad Jammu and Kashmir (AJ&K), according to informed sources. In response to a recent notification establishing a Technical Committee, following a decision made during a Combined Sub-Committee meeting on January 30, 2024, Wapda has advocated for the formulation of recommendations by January 31, 2024. These recommendations are slated for presentation at an upcoming Inter-Ministerial Committee meeting. During a Technical Committee session…

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