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Overburdened consumers: Audit firms rule out artificially inflated bills

ISLAMABAD– Audit firms have cleared power distribution companies of the accusation that they sent artificially inflated bills, saying instead the consumers faced a 35% increase in electricity tariff after slabs were all but removed. Federal Water and Power Minister Khawaja Muhammad Asif stated this while talking to the media at the inauguration of the Water and Power Development Authority (Wapda) ... Read More »

July-October: All avenues exhausted, still revenues fall

ISLAMABAD — As the government has exhausted all available avenues to enhance its non-tax income, the net revenue receipts fell to Rs600 billion in July-October this year while expenses grew at a faster pace to Rs1.1 trillion on the back of mounting debt servicing burden. Fresh data for the first four months of the current fiscal year underlines the need ... Read More »

Energy production: Chinese firm supplies modules for solar farm

KARACHI: JA Solar Holdings Company Ltd, one of the world’s leading manufacturers of solar power products, on Monday announced that it had shipped 100-megawatt of modules to the first large-scale solar farm in Pakistan. According to a press release from Shanghai, occupying 500 acres of land, the solar farm is located within the Quaid-e-Azam Solar Park in Bahawalpur. The solar ... Read More »

NFC award: Govt to dole out Rs2.6b to provinces

ISLAMABAD: The government on Monday announced that it would dole out Rs2.6 billion among the provinces for maintaining cash surplus during the first quarter of the current fiscal year that helped finance burgeoning federal expenditures. The announcement was made by Finance Minister Ishaq Dar during the second bi-annual meeting of the National Finance Commission (NFC), convened to review implementation on ... Read More »

Energy trade: After scrapping of tender, LNG politics pick up pace

ISLAMABAD: The politics related to liquefied natural gas (LNG) import have again intensified after Pakistan State Oil (PSO) cancelled an import tender in which top global companies like British Petroleum and Shell could have taken part. Similarly, many tenders were scrapped in the past, but this time experts were hoping for clinching a deal following encouraging response from renowned companies. ... Read More »

Gov should do away with GIDC on consumer

LAHORE: In 2011, the PPP government imposed a tax in the name of Gas Infrastructure Development Cess (GIDC) on all industrial gas users and CNG sector except the households. The act was very damaging for the country’s economic growth as its rate was very high especially for fertiliser, CNG and power sectors. As a result, it was challenged in all ... Read More »

GSP Plus: Opportunities for textile exporters abound

KARACHI: For the exporters who are looking for more trade avenues, the European Union’s Generalised Scheme of Preferences (GSP) Plus has opened new doors of opportunities. Since January, the month when Pakistan qualified for the GSP Plus, exporters of finished garments have seen a surge in enquiries and orders from the EU. “We have noted an increase of 20-25% in ... Read More »

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