Progress on acquiring land for dams reviewed | The Express Tribune

ISLAMABAD: An implementation committee on Diamer Bhasha and Mohmand Dams, constituted by the Supreme Court of Pakistan, met on Thursday to review progress on land acquisition and resettlement of locals from project sites. The committee met at the request of the sub-committee on land acquisition and resettlement relating to Diamer Bhasha Dam. Water and Power […]

Income tax filers drop 35% | The Express Tribune

ISLAMABAD: The interim government has failed to broaden the tax base, with the number of income tax return filers shrinking 35% to just under 3.9 million compared to last year, amid challenges to achieve monthly tax collection targets. The caretaker government, whose rule has now effectively ended with the oath of the new National Assembly, […]

Alibaba Cloud announces steep price cut | The Express Tribune

HONG KONG: China’s Alibaba Cloud on Thursday said it will slash prices of some of its products by as much as 55%, its most severe price cut to date, amid intensifying competition to attract heavy users, particularly artificial intelligence (AI) software developers. This would be the second time the cloud arm of Chinese e-commerce leader […]

Sindh govt, World Bank to invest $100m in renewables | The Express Tribune

KARACHI: The Sindh government is collaborating with the World Bank to set up renewable energy projects in solar and wind equipment, aiming to protect the environment from greenhouse gases and Pakistan from recurrent natural disasters. Speaking at a seminar titled ‘Significance of Renewable for Karachi & Export Industry: Cost of Inaction’, Director of Alternative Energy […]

Reliance on renewables a must | The Express Tribune

Open access policies and the implementation of the Competitive Trading Bilateral Contract Market (CTBCM) are crucial steps towards enhancing energy adoption in Pakistan, said Abubakar Ismail, Head of Energy & Sustainability at Amreli Steels Limited. Photo: file ISLAMABAD: Pakistan’s ambitious renewable energy plans need to be coupled with close attention to addressing the system’s constraints […]

NEPRA puts livelihoods at risk, say traders | The Express Tribune

According to the data provided to Nepra, energy generation in June 2021 was recorded at 14,361.17 GWh. PHOTO: FILE KARACHI: The business community, distraught by the increasing cost of inputs, has appealed to the government to stop the National Electric Power Regulatory Authority (Nepra) from taking anti-people and anti-business decisions as businesses are on the […]

China agrees to rollover $2b debt on existing terms | The Express Tribune

ISLAMABAD: China has agreed to rollover a $2 billion debt on existing terms after initially seeking a hike in price, as Pakistan’s policy to maintain foreign exchange reserves through deposits by three countries is becoming costly due to a 118% surge in interest cost. The Ministry of Finance officials said that an understanding has been […]

DISCOs: govt to adopt Turkish model | The Express Tribune

The key challenges faced by DISCOs included poor governance and inadequate investment. Therefore, they were placed on the active privatisation list but the process could not move forward. Photo: file ISLAMABAD: Pakistan has decided to follow the Turkish model through outsourcing the management of power distribution companies (DISCOs) in an attempt to reduce losses, bring […]

Businessmen decry hike in terminal charges | The Express Tribune

Businessmen demanded the formation of a regulatory authority for the container terminals to ensure a better working environment. Photo: File KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Senior Vice President (SVP) Saquib Fayyaz Magoon has said that the business, trade and industrial community is in a state of shock and disbelief at […]

Daraz announces layoffs in memo | The Express Tribune

KARACHI: Alibaba-owned e-commerce platform Daraz Group has announced layoffs across the group to “adopt a more streamlined and agile structure”, acting Chief Executive Officer James Dong said on Tuesday in an internal memo to employees reviewed by Reuters. The memo did not mention the number of people affected by the layoff. Daraz declined to comment […]

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