Category: Shortcode

Karot HPP adds to clean energy

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Karot-Hydropower

LAHORE: The Karot Hydropower Plant, a key project under the China-Pakistan Economic Corridor (CPEC), has added around 3.64 billion units of clean and cheap electricity to the national grid in its first year of operation, the company said on Thursday. The 720MW plant, which was inaugurated in June 2022, uses indigenous resources and has no carbon emissions. It contributed more than 509.86 million units of electricity in May 2023 alone, according to data from the National Electric Power Regulatory Authority (NEPRA). The plant has also achieved zero accidents and zero…

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Energy sector reforms: Modalities, framework finalised

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Ishaq-Dar

ISLAMABAD: Finance Minister Ishaq Dar chaired a meeting on reforms in the energy sector at the Finance Division, Friday, says a press release. Minister of State for Petroleum Division, Musadik Masood Malik, SAPM on Finance, Tariq Bajwa, SAPM on Revenue, Tariq Pasha and senior officers from the Finance and Petroleum Divisions attended the meeting. PM for making energy sector reforms part of budget The meeting conversed about the ongoing issues in the energy sector, particularly the issue of circular debt in the gas sector and discussed and finalised modalities and…

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CCoE poised to okay incentives for 100% diesel production

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PM to preside over the meeting on Monday to grant final approval ISLAMABAD: In a bold move to achieve 100% local diesel production, the Cabinet Committee on Energy (CCoE) is poised to sanction incentives to existing refineries for the establishment of upgradation plants. Prime Minister Shehbaz Sharif is slated to preside over the CCoE’s meeting on Monday to grant final approval for this transformative initiative. Sources familiar with the matter have revealed to The Express Tribune that the incumbent government’s incentives include a 10% deemed duty on petrol and an…

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No room for tax amnesty after IMF deal: Dar

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Ishaq-Dar

ISLAMABAD: A Nati­onal Assembly panel has raised questions over the transparency of over $3 billion loans under the concessio­nary Temporary Econ­omic Refinance Faci­lity (TERF) to some businesses during the Covid-19 pandemic and expressed concern over the central bank’s weak oversight of how the cheaper financing was utilised. Meanwhile, Finance Minister Ishaq Dar told the Standing Committee on Finance and Revenue that there was no more room for any sort of tax amnesty because of the ongoing standby arrangement with the International Monet­ary Fund (IMF). Mr Dar, who attended the NA…

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KE consumers to be slapped with another Rs1.52 per unit surcharge

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K-Electric

ISLAMABAD: The federal government has decided to impose a Rs1.52 per unit surcharge on all electricity consumers of K-Electric to mop up about Rs25 billion in additional revenue during the current fiscal year. This will be on top of an average Rs30 per unit uniform national base tariff, Rs3.23 per unit financing cost surcharge and various taxes and duties besides the quarterly tariff adjustments and fuel cost adjustments that keep on changing on a quarterly and monthly basis. The Power Division has asked the National Electric Power Regulatory Authority (Nepra)…

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