Oursun Pakistan seeks licence for solar power generation on June 7, 2016 KARACHI: A Lahore-based power generation company, intending to supply electricity to the Karachi Electric (KE), has sought a licence for its proposed 50MW solar power plant, Daily Times has learnt. In this regard, the Oursun Pakistan Limited (OSPL) has submitted an application to the National Electric Power Regulatory Authority (NEPRA) to obtain power generation […]
Stakeholders reject new taxes on mobile handsets on June 4, 2016KARACHI: Industry stakeholders have rejected the proposed hike in the sales tax on import of mobile phones in the annual budget 2016-17, saying the hike will promote mobile phone smuggling instead of benefiting the exchequer. Talking to Daily Times, Q Mobile Director Zeeshan Yousuf said, “The mobile phone industry will see a rise in smuggling […]
NEPRA grants license to LNG-based power plant in Punjab on June 2, 2016KARACHI: Despite Sindh and Khyber Pakhtunkhwa (KPK)’s objections, the National Electric Power Regulatory Authority (NEPRA) has granted an electricity production license to the Quaid-e-Azam Thermal Power Private Limited (QATPPL) on Thursday. The QATPPL has planned to set up a 1,180-megawatt Liquefied Natural Gas based thermal generation facility located in Bhikki, Sheikhupura. NEPRA provided QATPPL with […]
City super markets causing traffic chaos on June 2, 2016KARACHI: The super stores have become another menace for the people of Karachi who are already facing severe traffic hazards, and this situation would get worse in the month of Ramadan that is only a week ahead. It has been learnt that Chase Departmental Store and Imtiaz Super Market are the main reason of illegal […]
FBR detects Rs 41m tax evasion by Premier Cables on May 31, 2016KARACHI: Largest supplier of copper telecom cables and optical fiber cables to telecom and power sector of Pakistan, Premier Cables (Pvt) Limited has been found involved in massive duties/taxes’ evasion by Federal Board of Revenue (FBR), Daily Times has learnt. In this regard, FBR’s wing, the Directorate of Post Clearance Audit (PCA) Karachi has served […]
Fauji Cement silo collapses, halts production on May 30, 2016KARACHI: The cement silo (storage for materials and cement) of Fauji Cement Company Limited (FCCL)’s plant collapsed over the weekend, destroying the coal mill and damaging the new production line of the company, according to industry sources. As per details, the FCCL’s Line II Control Flow Silo (CFS) used for blending and storing raw cement […]
Hascol Petroleum establishes Rs 2,500m capital joint venture on May 26, 2016KARACHI: Hascol Petroleum Limited has decided to establish a joint venture for developing and operating an oil storage / terminal facility of 200,000 metric tonnes at Port Qasim Authority with the paid up capital of Rs 2,500 million. In this regard, the principal firm, Hascol Petroleum, owns a 15% equity stake in the joint venture […]
PTA dismisses possibility of reduction in telecom taxes on May 25, 2016KARACHI: The Pakistan Telecommunication Authority (PTA) has dismissed stakeholders’ requests about relaxation in taxes on telecom sector and withdrawal of five SIMs’ restriction on one National Identity Card (NIC). Stakeholder requested the PTA that it should withdraw 10% Advanced Income Tax on the assignment of spectrum, withholding tax, sales tax and federal excise duty (FED) […]
Pakistan imposes new sanctions on North Korea on May 24, 2016KARACHI: In compliance with the United Nations Security Council (UNSC) Resolution 2270 (2016), the Ministry of Foreign Affairs (MoF) has imposed new sanctions against Democratic Peoples’ Republic of Korea (DPRK) through Statutory Regulatory Order (SRO). The United Nations, the European Union and the United States recently expanded sanctions on North Korea, issuing new restrictions which […]
Import of Chinese mobile phones drops by 40% on May 23, 2016KARACHI: Complex procedure to get an approval or no-objection certificate (NOC) from the Pakistan Telecommunication Authority (PTA) for imported mobile phones has suppressed Chinese-made handsets’ import by 40%. China was the favorite destination of mobile phone importers during last decade, however implementation of new complicated guidelines by the PTA for import of Chinese mobile phones […]