Category: Shortcode

Textile Industry Calls for Swift CTBCM Implementation with Low Wheeling Charges

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textile-industry

ISLAMABAD: The textile industry has urged the government to expedite the implementation of the Competitive Trading Bilateral Contract Market (CTBCM), ensuring a multi-seller, multi-buyer model with minimal wheeling charges of 1-1.5 cents per unit to boost industrial productivity. In a letter to Secretary Petroleum Momin Agha, the All Pakistan Textile Mills Association (APTMA) stressed that the CTBCM framework must exclude extraneous costs, such as cross-subsidies and stranded costs, which are unrelated to CTBCM consumers. Proposal for Direct LNG ImportsAPTMA also proposed allowing the textile sector to directly import 100 mmcfd…

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Govt Moves to End Free Electricity for Power Sector Employees

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Power-Sector1

ISLAMABAD: The government is set to end free electricity perks for employees in the Power Division, including those in distribution and generation companies, as part of broader reforms to ease financial strain on the energy sector, Federal Energy Minister Owais Leghari announced on Wednesday. Currently, power sector employees receive free electricity worth an average of Rs6,000 per month, adding a significant burden to the sector’s finances. To expedite the process, the government has engaged the Attorney General’s Office to resolve pending legal cases preventing the policy change. “We have taken…

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Pakistan eyes $100bn investment for ‘green energy revolution’

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Renewable-Capacity

Pakistan Targets $100 Billion Investment for Green Energy Revolution ISLAMABAD: Pakistan is set to attract $100 billion in investments to drive its ambitious green energy transition, aiming to expand renewable energy, cut carbon emissions, and build a sustainable energy future. Federal Minister for Power Awais Ahmad Khan Leghari, while briefing the Senate Standing Committee on Climate Change, outlined a roadmap requiring $50 billion to generate 60 percent of the country’s electricity from renewable sources by 2030. This shift is critical to reducing Pakistan’s reliance on expensive fossil fuel imports and…

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Energy Update Extends Warm Wishes to China and Solar Industry on Lunar New Year

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Solar-Industry

Energy Update Extends Warm Wishes to China and Solar Industry on Lunar New Year January 30, 2025 KARACHI: On the joyous occasion of the Chinese Spring Festival and the Year of the Snake, Energy Update extends its heartfelt greetings to the people of China, President Xi Jinping, and the global solar industry, especially Chinese solar companies and partners who have been instrumental in driving the renewable energy revolution worldwide. China’s remarkable leadership in clean energy and solar technology continues to inspire nations striving for a sustainable future. The China-Pakistan Economic…

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Pakistan Faces Rs5 Trillion Annual Loss in Maritime Sector Due to Underutilization and Malpractices

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Maritime-Sector

ISLAMABAD: Pakistan’s maritime sector suffers an annual loss of nearly Rs5 trillion ($18 billion) due to underutilized ports, tax evasion, fraudulent practices, and inefficiencies in trade and value addition, according to a high-level task force report. The report, presented to the prime minister, highlights that: Underutilized ports account for a staggering Rs3.19 trillion loss.Tax evasion in the maritime sector costs Rs1.12 trillion annually.Malpractices and fake billing lead to a Rs313 billion shortfall.Restrictions on transshipment result in Rs70 billion in missed revenue.Lack of warehousing and value addition costs Rs196 billion.Misuse of…

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