Category: Shortcode

he government has assured the International Monetary Fund (IMF) that it will continue adjustments in power tariffs for domestic consumers sans protected slabs and also rationalize subsidy plan for tubewells for large agricultural users by November 2022. This commitment has been given to the Fund under the Seventh and Eighth Review of the extended arrangement under the Extended Fund Facility. According to the Fund, the authorities have reaffirmed that it is the only spending authority in the country to grant power subsidies, which it will limit to Rs 570billion thanks…

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The government has committed more utility price shocks under a straightjacket implementation plan with the International Monetary Fund (IMF) involving an over 53 per cent increase in gas rates, the revival of general sales tax on petroleum products and withdrawal of more subsidies. The IMF released a deta­iled 112-page country report on Friday on the completion of the seventh and eighth reviews of the extended fund facility (EFF), under which Pakistan has also committed to ensure electronically filed tax and asset details of grade 17 to 22 officers and members…

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Dr Shamshad Akhtar, Former Finance Minister, criticized insufficient financial cooperation extended by leading greenhouse gas emitters to climate change vulnerable countries and said “climate change mitigation and adaptation annually requires 7-14 Billion which is well beyond Pakistan’s financial constraints”. She was speaking at the first “Annual State of Renewables Conference 2022” organized by Sustainable Development Policy Institute (SDPI) in collaboration with Unilever here on Thursday. She stressed on need to decarbonize energy generation and reforming policies to address high import dependence, removing low tariff and subsidies on energy supply to…

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Prime Minister Muhammad Shehbaz Sharif on Thursday green-lighted the construction of solar plants having a combined capacity of 10,000 MW, as the government strives to save valuable foreign exchange that is being used to import fuel. “Instead of generating electricity by importing expensive oil from abroad, electricity should be generated from solar energy,” said the PM during a meeting, according to a statement released by the Prime Minister’s Office (PMO). Import of petroleum products: PSO receives Rs62bn for confirmation of LCs PM Shehbaz directed concerned agencies to start work on…

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Cnergyico Pk Limited (formerly Byco Petroleum), Pakistan’s largest vertically integrated oil refining company, is supporting relief efforts to assist the people who have been affected by the catastrophic floods in Balochistan. The recent spell of torrential rains has taken a heavy toll on the country, particularly on parts of Balochistan where thousands of precious lives have been lost while people’s homes, businesses, and public infrastructure have been badly damaged. “Cnergyico is guided by its long-standing principle of supporting humanitarian efforts and uplifting communities during times of crisis,” Cnergyico’s Vice President…

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