The All Pakistan Textile Mills Association (APTMA) in its budget proposals has sought the revival of various energy and other subsidies, deferred sales tax refunds, service-based tariff, and restoration of zero-rating status for the export sector.
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Finance Division has reportedly shown willingness to allocate Rs 450 billion for power sector subsidy in FY 2023-24 as compared to Rs 350 billion for the outgoing fiscal year (2022-23), well informed sources told Business Recorder.
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In an amazing turn of events, Pakistan’s fuel oil trades expanded to a record in April, revealed Bloomberg on Tuesday. According to the report, Pakistan sent out 164,000 tons of fuel oil in April, the biggest volume since no less than 2017, as per Kpler information aggregated by Bloomberg.
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Hub Power Company Limited’s (PSX: HUBC) announced massive increase in consolidated profits for 9MFY23. The growth in earnings came from HUBC’s diversification. The power company does not depend on the base plant at Hub and plant at Narowal; its coal investment, China Power Hub Generation Company
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Fauji Oil Terminal and Distribution Company (FOTCO) in collaboration with Port Qasim Authority (PQA) on Wednesday commenced night navigation of oil vessels at the FOTCO terminal, a move that increases the company’s capacity by 30%.
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