Express
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Govt to import expensive urea to meet shortfall | The Express Tribune
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[ad_1] ISLAMABAD: The government on Friday approved import of 100,000 metric tons of fertiliser at a price of $359 per ton but turned down a proposal for doling out Rs5.9 billion in subsidy to match local urea prices – in a move that would bridge the shortfall but disturb market prices. The Economic Coordination Committee…
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CCOP okays sale of six power firms | The Express Tribune
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[ad_1] ISLAMABAD: The Cabinet Committee on Privatisation on Friday approved the sale of six highest loss-making power distribution and four power generation companies, causing a total annual loss of over Rs200 billion, in the last leg of privatisation –in a move that will keep the power sector bleeding for years to come. The decision to…
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PM Shehbaz promises the nation to reduce electricity prices in Pakistan | The Express Tribune
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[ad_1] Listen to article Prime Minister Shehbaz Sharif announced on Friday that reducing electricity prices was a top priority for the PML-N government and its allies. He emphasised that providing relief to electricity consumers was a key agenda for PML-N President Muhammad Nawaz Sharif and his administration. In his remarks at a Cabinet meeting, the Prime Minister…
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PSM land to be converted into SEEZ for investors | The Express Tribune
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[ad_1] KARACHI: The federal government would hand over the 4,000-acres land of the Pakistan Steel Mills (PSM) to Chinese investors by establishing a Special Export Economic Zone (SEEZ) there, Sindh Industry Minister Jam Ikramullah Dharejo said on Thursday. Talking to the Council of Economic and Energy Journalists (SAGE) members, the minister stated that the land…
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Gohar Ejaz lashes at power producers of charging billions without producing power | The Express Tribune
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[ad_1] Former caretaker Minister of Commerce Dr Gohar Ejaz has criticised the Independent Power Producers (IPPs) for allegedly charging the government Rs 200 billion without generating a single unit of electricity. In a press conference in Islamabad, Dr Ejaz called for a forensic audit of these transactions and questioned the efficiency of the country’s energy…
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Capacity charges are just the tip of Pakistan’s power sector iceberg | The Express Tribune
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[ad_1] Pakistan’s power sector woes are a hot topic, often attributed to capacity charges as the primary cause of circular debt and high electricity costs. However, the reality is far more complex. The public’s lack of exposure to the true causes makes it challenging to convey the consequences of our cumulative failures in power sector…
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Boeing appoints aerospace veteran Kelly Ortberg as CEO to lead turnaround | The Express Tribune
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[ad_1] Boeing on Wednesday named aerospace industry veteran Kelly Ortberg as its CEO to turn around the struggling planemaker after a quarter where it lost more than $1 billion. Ortberg will start on Aug. 8 with the monumental task of rebuilding trust with regulators, the industry and the public during a quality crisis, and as…
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Increase in power rates expected by Rs2.63 per unit | The Express Tribune
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[ad_1] Electricity prices are likely to increase by Rs2.63 per unit for consumers, as the Central Power Purchasing Agency (CPPA) has submitted a request to the National Electric Power Regulatory Authority (NEPRA). The proposed hike is aimed at adjusting monthly fuel costs. The government-owned distribution companies have already been charging higher rates, and this adjustment…
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Major reduction in fuel prices expected | The Express Tribune
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[ad_1] Following a decline in global crude oil prices, Pakistan is expected to see a significant reduction in petroleum product prices. Sources indicate that from August 1, petroleum prices could decrease by up to Rs11 per litre. The price of petrol may drop by Rs5.50 per litre, while high-speed diesel (HSD) could see a reduction…
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Aurangzeb outlines tough measures for stability | The Express Tribune
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[ad_1] KARACHI: Finance Minister Muhammad Aurangzeb has reiterated the government’s commitment to achieving macroeconomic stability as a foundation for sustainable growth. Addressing the Karachi Chamber of Commerce and Industry (KCCI) on Tuesday, Aurangzeb highlighted the critical need for difficult decisions to stabilise the economy before pursuing growth-oriented initiatives, according to a press statement released by…
