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Shortfall of 4,000-6,000MW calls for using alternate energy sources: Senate chairman

ISLAMABAD: Senate Chairman Syed Nayyer Hussain Bokhari has said that solar energy can bring about a revolution in the energy sector which will help bridge the demand and supply gap. However, he said that it would require better policies at the government level to expedite progress in the area of solar energy. Senate chairman earlier met representatives of Yingli Solar, ... Read More »

Russia bans $9.1 billion imported foodstuffs from Western countries

MOSCOW: Russia has been able to substitute imported foodstuffs hit by its food embargo imposed in response to western sanctions. Agriculture Minister Nikolay Fyodorov said that perhaps, the range of products is not substituted by 100% but the problem of finding alternative suppliers from foreign states has been generally resolved. Over the four months, we have actually substituted the shortfall ... Read More »

Govt pays K-Electric Rs53b during current year, Rs312b in eight years

ISLAMABAD: The government paid Rs312 billion to the Karachi Electricity Supply Company (K-Electric) during the last eight years, in which Rs228 billion was paid in just last four years and Rs84 billion was paid last year, while with the highest ratio, Rs53 billion was given to the company during the ongoing year to fill the ‘tariff gap’, Minister of State ... Read More »

Punjab CNG stations to be shut for 12 days

LAHORE: Sad news for the people who are returning their homes from major cities to spend Eid with their families as the CNG outlets of Punjab will be unable to provide gas for 12 days. The gas will not be available from Saturday to next 12 days due to folding down of Qadirpur Gas Field for the annual maintenance. But ... Read More »

PIDE terms fiscal revenue target ‘too ambitious’

ISLAMABAD: The Pakistan Institute of Development Economics (PIDE) has described the revenue target of Rs2,810 billion for the fiscal year 2014-15 as too ambitious to be met, saying the projected increase in revenue collection target is likely to be missed due to various factors. In a report, the PIDE cited that the highest growth in tax collection Pakistan had ever ... Read More »

Premier awards ‘Privilege cards’ to top taxpayers

ISLAMABAD: The Prime Minister Muhammad Nawaz Sharif handed over the Privilege Cards to top 100 taxpayers of different categories at Prime Minister’s office Auditorium. The cards will be valid for one year. As per details, the ceremony was also attended by Mr. Ishaq Dar, Finance Minister and Chairman Federal Board of Revenue (FBR), Mr. Tariq Bajwa. The scheme has been ... Read More »

Looming revenue shortfall: Provinces unlikely to get targeted share

ISLAMABAD: In the wake of likely shortfall in the revenue collection projected for the current fiscal year, the provinces are unlikely to receive budgeted share of revenue from the divisible pool. As per details, Finance Minister Ishaq Dar is aware of the fact that the Federal Board of Revenue may be unable to achieve the targeted revenue collection of Rs2,475 ... Read More »