Category: Shortcode

The Federal Board of Revenue (FBR) has conceded before a parliamentary panel of collecting a significant amount of revenue through electricity bills as effective tax rate is 58 percent per unit on commercial consumer and 29 percent on domestic consumers. Senate Standing Committee on Finance and Revenue presided over by Senator Saleem Mandviwalla Wednesday inquired from the officials of the FBR about the quantum of taxes on per unit electricity because the committee has been receiving complaints from the people that there are heavy taxes on electricity bills. The FBR…

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Chinese company M/s Huaneng Shandong Ruyi (Pakistan) Energy (Private) Limited (HSR) has approached Power Division for timely approval of foreign exchange payments for coal purchase. In a letter to Secretary Power, HSR’s CEO has referred to his previous correspondence wherein the company sought permission/ approval of the SBP for payment for ship 324 amounting to $ 15,624,400 in respect of South African coal. The letter has been written in light of article 10.4 of the Implementation Agreement wherein the company stated that it initiated the application for coal payment on…

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The Economic Coordination Committee (ECC) of the Cabinet has directed the Petroleum Division to develop a mechanism for certifying the premium of OMCs on imported HSD, official sources told Business Recorder. On November 18, 2022, the Petroleum Division informed the forum that the ECC while considering its summary titled, ‘High Speed Diesel (HSD)/gas oil premium” in its meeting held on November 4, 2022 had allowed premium on HSD imports subject to maximum capping at $ 15/BBL for importing Oil Marketing Companies (OMCs) during November and December 2022. However, oil industry expressed…

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Gas load shedding during winters is not a new phenomenon in Pakistan anymore. So much is worked around the winter season in terms of industrial and power sector usage to keep the stoves and geysers at homes running – that it has now almost become acceptable. These winters may not necessarily be significantly worse in terms of gas load shedding, from how things have shaped up so far. That said, there is a lot in the dark in terms of LNG supply come the three months starting December. With China…

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Sindh Governor, Kamran Khan Tessori, has said that every owner of a residential and workplace building has to fulfill the civic responsibility of ensuring fire safety measures at the premises where people live or work. The Sindh Governor gave the suggestion to this effect while addressing as the chief guest at the 12th Fire Security & Safety Convention-2022 organized jointly by the National Forum for Environment and Health (NFEH) and the Fire Protection Industry of Pakistan (FPIP). The Governor praised the NFEH and other concerned civil society organizations, which had…

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