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Pakistan needs to strengthen its policy framework to promote electric vehicles, which are not only environment-friendly but also it will reduce the country’s dependency on fossil fuels. In the webinar on ‘Market preparedness and Policy Support for Electric Vehicles (EVs) in Pakistan’ during keynote address, Prof. Dr Naveed Arshad, Lahore University of Management Sciences said Electric Vehicle Policy lack ownership in Pakistan. Besides, he said, the involvement of a single ministry for policy formulation and implementation tracking is not enough. He suggested forming a high-level body on top under Planning…

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An increase in electricity tariff would follow fuel price adjustment through withdrawal of subsidies while protecting the poor under principles agreed to with the International Monetary Fund (IMF), Minister of State for Petroleum Musadiq Malik said on Friday. Speaking at a news conference, he said Minister for Finance Miftah Ismail had very skillfully finalised conditions with the International Monetary Fund (IMF) in recent negotiations. He added that while borrowed money could not be doled out to the rich, a mechanism should be in place to ensure that the poor are…

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The National Electric Power Regulatory Authority (Nepra) on Friday notified Rs4.83 per unit additional fuel cost adjustment (FCA) to K-Electric to be charged to consumers for electricity they consumed in March. This will help the Karachi-based private utility to mop up an additional amount of Rs7.86 billion from consumers in upcoming billing month of June. The FCAs shall be applicable to all the consumer categories except lifeline consumers, Nepra said. The K-Electric had demanded an FCA of Rs5.275 per unit with a revenue impact of Rs8.6bn but the regulator found…

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Sindh Energy Minister Imtiaz Ahmed Sheikh said the government was working expeditiously on low cost power generation from Thar Coal and renewable energy projects of solar and wind power generation. He said this while chairing a meeting of Sindh Engro Coal Mining Company (SECMC) held on Friday. He said Thar Coal Reserves have potential to be a game changer in meting out Pakistan”s energy needs. The minister also stressed the need of prioritizing environmental aspect in projects aimed at conversion of coal into energy. SECMC officials while briefing the meeting…

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Despite the political crisis which affected all segments of life including business, the outflow of profits and dividends on foreign investments increased during the first 10 months of the current fiscal year. The State Bank of Pakistan (SBP) latest report issued on Thursday revealed that the outflow of profits and dividends increased by 11.5 per cent, or $152 million, to $1.464 billion during the July-April period from $1.312bn in the same period last year. The higher outflows indicate better performance of the economy, which is expected to expand at 5.97pc…

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