Category: Shortcode

Commerce Ministry Proposes EV Sales Tax Removal and Battery Cap Elimination to Boost Adoption

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Battery-Cap

ISLAMABAD: In a significant move to accelerate electric vehicle (EV) adoption in Pakistan, the Ministry of Commerce has proposed eliminating the 25% sales tax on EVs priced above Rs4 million and lifting the cap on EV batteries for cars, vans, and SUVs. The recommendations were discussed during a recent steering committee meeting on EV policies. The Ministry of Industries and Production (MoIP) directed the Engineering Development Board (EDB) and the New Energy Vehicle (NEV) Policy team to evaluate these proposals, emphasizing the development of standards for EVs by the Pakistan…

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Trina Storage Tops BloombergNEF’s 2024 Bankability Survey, Reinforces Global Leadership in Energy Storage

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Trina-Storage

Trina Storage has retained its top ranking in BloombergNEF’s (BNEF) Energy Storage System Cost Survey 2024, a testament to its advanced technology, integrated capabilities, and financial robustness. This recognition solidifies Trina Storage’s market leadership and sets the stage for its ongoing global expansion. BNEF, a leading research authority in the global new energy sector, plays a pivotal role in guiding financial institutions’ commercial credit decisions. Trina Storage’s consistent inclusion in the survey’s top tier underscores the capital market’s confidence in its system integration solutions and overall bankability. With over 7.5…

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Faisal Spinning Mills Commissions 4.8MW Windmill in Sindh

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Faisal-Spinning

In a significant move toward renewable energy, Faisal Spinning Mills Limited (FASM) announced the successful commissioning of a 4.8MW windmill project in Unit-I Nooriabad, Sindh. The listed company shared the update via a notice to the Pakistan Stock Exchange (PSX) on Tuesday. “The 4.80MW windmill project has been successfully commissioned and is currently operating in the trial run phase,” stated the company. Commercial operations at full capacity are expected by March 2025. The announcement positively impacted FASM’s stock, with the share price rising 3.54% to Rs329.99, reflecting an increase of…

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SSGC’s Gas Shortage Causes Severe Inconvenience for Citizens

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ssgc-ae

KARACHI: The Sui Southern Gas Company (SSGC) has made life difficult for residents, with gas supply suspended in several areas of the city for days. Residents accuse SSGC of following the footsteps of K-Electric, charging full bills while failing to provide gas. Despite paying hefty monthly bills, citizens report no gas availability in the mornings or evenings. SSGC’s spokesperson has yet to respond to public complaints. Affected residents from areas such as North Karachi, Baldia, SITE, Metroville, and PIB Colony complain of a complete lack of gas supply. In PIB…

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PSO Collaborates with Dun & Bradstreet Pakistan to Boost Supplier Risk Management

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PSO-Head

KARACHI: Pakistan State Oil Company Limited (PSO) has partnered with Dun & Bradstreet Pakistan (D&B) to enhance its supplier risk management through advanced data-driven insights. This collaboration leverages D&B’s expertise to empower PSO with robust risk analytics and supplier network visibility. The partnership enables PSO to perform real-time risk assessments, conduct thorough due diligence, and monitor key business indicators. By implementing D&B’s Risk Analytics, PSO aims to proactively identify and mitigate potential risks in its supply chain, ensuring operational resilience and integrity. “Our comprehensive Risk & Data Analytics services are…

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