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LAHORE: The Lahore Development Authority (LDA) is all set to move a summary to the chief minister/chairman of its governing body for inclusion of areas of Muridke, Kala Shah Kaku, Ferozewala, Kot Abdul Malik and Sharaqpur of Sheikhupura district and Phoolnagar and Kot Radha Kishan of Kasur district in the jurisdictions of Lahore city district/metropolitan area as defined in the government notifications issued in May 1975 and January 1988. The objective behind this development is not only to get the areas included in the Lahore metropolitan but also to avoid delay in processing the cases of housing schemes falling in the aforementioned districts, which, under the recent ordinance about squeezing the limits of the LDA, no more falls in the LDA jurisdiction and are supposed to be sent to the respective defunct town municipal administrations (TMAs), Dawn has learnt. ....
How to control circular debt Opinion April 30, 2021 The writer is a former member of the Energy Planning Commission and author of ‘Pakistan’s Energy Issues: Success and Challenges’. It was recently reported that the PM has asked the Ministry of Finance and the Power Division to reduce circular debt without increasing the tariff, and handle the capacity charges. One is relieved to hear of the PM’s interest in the issue. Indeed, the best option is to somehow reduce the capacity charge which has been increasing due to slow demand and higher capacity cost. Increase in tariffs would have political consequences among rising inflation. Even the economy and exports may be hurt due to an increase in electrical tariff. ....
ECC waives up to 10% import duties Diverts Rs11.7b from Covid-related budget for constructing hospitals in Punjab The ECC was informed that this year the cotton production is estimated at 7.7 million bales and the country needs to import up to six million bales. PHOTO: PID ISLAMABAD: The government on Wednesday approved to divert Rs11.7 billion from Covid-19 related budget for construction of hospitals in Punjab amid its inability to lay an infrastructure to cope with the growing patients of the respiratory disease. The Economic Coordination Committee (ECC) of the cabinet allowed diverting Rs11.7 billion from Covid-19 budget for mother and child care hospitals. The ECC also waived up to 10% import duties to reduce the cost of cotton yarn import after the government could not develop a national consensus to allow cheaper imports from India. ....
• Customs duty on cotton yarn imports withdrawn • Kapco removed from privatisation list ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday exempted three Punjab-based power plants of 3,900 megawatts from compulsory purchases of liquefied natural gas (LNG) quantities from January 2022, removed a major power plant from privatisation list and withdrew customs duty on import of cotton yarn. The meeting presided over by Minister for Finance, Revenue, Industries and Production Muhammad Hammad Azhar also approved a Rs11.7 billion supplementary grant for financing four mother and child hospitals in Punjab. Already cleared by the Cabinet Committee on Energy (CCoE) in September last year, the Power Division presented a summary regarding waiver of minimum 66pc take-or-pay commitment in Power Purchase Agreements (PPAs) and Gas Supply Agreements (GSAs) of three RLNG-based public sector power plants. Located in Punjab, these plants included Qu ....
ECC withdraws customs duty on cotton yarn imports Business April 15, 2021 ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Wednesday withdrew customs duty on import of cotton yarns and waived 66 percent take-or-pay commitment in power purchase and gas supply agreements for three public sector RLNG-based plants. The decisions were taken during a meeting presided over by the Minister for Finance, Revenue, Industries and Production Hammad Azhar. The committee approved the withdrawal of customs duty to ensure smooth supply of cotton and cotton yarns to the value-added industry, while bridging the gap between domestic production and overall demand for the inputs. ....