Business News
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Saudi crown prince gives nod to accord with Pakistan’s spy agencies against terrorism
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[ad_1] Saudi Crown Prince and Prime Minister Mohammed bin Salman (centre) chairs a cabinet meeting on May 21, 2024. — Saudi Press Agency Saudi Arabia’s Crown Prince Mohammed bin Salman (MBS) on Tuesday approved a cooperation agreement between the Presidency of State Security in the kingdom and the military intelligence agency in Pakistan to combat…
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Excise duty structure fuels counterfeit cigarette use: report | The Express Tribune
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[ad_1] ISLAMABAD: The current excise duty structure on tobacco products has led consumers to shift from legally compliant cigarette brands to illegal, tax-evaded ones, causing an estimated annual revenue loss of Rs310 billion for the national exchequer. Illicit cigarette brands now hold over 60% of the total market, as revealed in a report titled “Illicit…
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Power production drops by 14% | The Express Tribune
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[ad_1] KARACHI: Power production, in April, witnessed a staggering 14% decline, plummeting to 8,640 gigawatt-hours (GWh), attributed to a significant surge in electricity prices, a slowdown in industrial activities, and a notable migration of businesses and households towards solar power from the national grid, thus exacerbating the burden of capacity payment and circular debt on…
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Tax sectors with higher GDP share: OICCI | The Express Tribune
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[ad_1] LAHORE: Major overseas investors, in their taxation proposals for the upcoming budget for fiscal year 2024-25, have asked the federal government to consider taxing the untapped sectors which have a high potential and a huge share in the country’s gross domestic product (GDP). These sectors include immovable property, undocumented non-corporate businesses, transport and construction…
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Is govt mulling to review solar net metering policy?
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[ad_1] Several solar panels can be seen in this picture. — AFP/File ISLAMABAD: Federal Minister for Energy Awais Ahmad Khan Leghari on Tuesday categorically rejected media reports and said that the government would not make any change in solar net metering policy sans the consensus of all the stake holders. Responding to a call attention…
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Solar power tariff: Minister says IMF didn’t set condition for gross metering
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[ad_1] A man wipes the dust off solar panels he recently installed on the roof of his home in Larkana, in Pakistan’s Sindh province, June 28, 2017. — Reuters Amid panic in solar panels market, Federal Minister Awais Khan Leghari Tuesday demystified the controversy around net metering for consumers using solar power. “Unfortunately, an unwarranted…
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Another power tariff hike in offing | The Express Tribune
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[ad_1] ISLAMABAD: Electricity consumers may need to brace for another jolt as power distribution companies have proposed a tariff increase of up to Rs3.48 per unit. The companies have requested permission from the National Electric Power Regulatory Authority (NEPRA) to collect an additional Rs3.488 per unit from consumers under the fuel charges adjustment (FCA) for…
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FIA, intelligence officers to be inducted into DISCOs to eliminate corruption
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[ad_1] An employee of the Islamabad Electric Supply Company (IESCO) takes a meter reading with his smartphone at a commercial building in Islamabad. — AFP/File The federal government has decided to appoint officers from the Federal Investigation Agency (FIA) and other spy agencies in the power distribution companies (DISCOs) to end corruption. Prime Minister Shehbaz…
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PM forms new committee to end inter-ministerial dispute | The Express Tribune
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[ad_1] ISLAMABAD: Prime Minister Shehbaz Sharif has constituted yet another committee, this time to end an inter-ministerial dispute, as neither the planning ministry nor the finance ministry are willing to take ownership of 100 provincial nature schemes with a cumulative cost of Rs573 billion. The dispute arose just days before the approval of the fiscal…
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Pakistan’s IT exports jump 62% to $310 million in April
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[ad_1] A representational image of a man using a mobile phone. —Pixabay/File Pakistan’s IT export remittances jumped to a record $310 million in April 2024 from $191 million in the same month last year, sercuring a 62.3% year-on-year (YoY) surge, official data showed on Monday. The significant increase underscores the rapid growth of Pakistan’s ICT…
