CEO Times

The independent business media agency of #GCC & #Pakistan!

[The Pakistan Business Council @ThePBC_Official]

Delighted to hear of (@magmmz) Mr. Mohammad Ali, (@Mowp15) Federal Minister of Power and Petroleum's plan to reduce the power tariff for industry to 9 US cents/KwH. Industry creates jobs, generates exports, reduces reliance on imports and boosts tax revenue (contributing 56% of direct taxes). Competitive industry stabilizes the exchange rate by bridging the deficit on the current account. Therefore it has a positive impact on managing the landed cost of imported energy inputs, which benefits all consumers. Clearly, industry cannot compete with the region with power at 14 US cents/KwH. Certainly, export customers cannot be expected to pay for the peculiarities of our energy sector.

The Minister's plans will use up unutilized generation capacity, reducing the government's capacity charges. His plans are therefore a "win-win" for the government, for industry and for consumers in general.

PBC had additionally recommended lower power tariffs for domestic users to incentivize them to switch to electricity for heating and cooking in the winter.

Lastly, a review is required of the burden of cross subsidies on industry, which thwart the engine of growth.

@PakPMO @Financegovpk @sifcpakistan @1sakhtar @IMFNews

[Ministry of Finance, Government of Pakistan @Financegovpk]

A fake notification is being circulated on social media regarding ban on circulation of Rs 5000 currency notes w.e.f 30th September 2023. It is for information of general public that this is false information. (1/2)

[CEO Times @ceotimesnet]

Imdad Ullah Bosal appointed as new Finance secretary by @GovtofPakistan

#Pakistan

[CEO Times @ceotimesnet]

MoITT releases first draft of Artificial Intelligence Policy in Pakistan

#ArtificialIntelligence

[CEO Times @ceotimesnet]

Government cuts regulatory duties on mobile phone imports!

#PakistanEconomy

[CEO Times @ceotimesnet]

Attock Refinery forced to shut down due to smuggling of petroleum products

[CEO Times @ceotimesnet]

@Official_PIA implements Essential Services Act due to unpaid salaries

[CEO Times @ceotimesnet]

Govt launches Rs10 billion Pakistan Innovation Fund (PIF)

#economy #Innovation

[CEO Times @ceotimesnet]

UBL to carry out due diligence on
@SilkbankLimited

[CEO Times @ceotimesnet]

@pakstockexgltd demands clarification from 5 firms for significant price change

#StockMarket

[CEO Times @ceotimesnet]

Google launches the App Growth Lab in Pakistan to assist native app developers

#Google #appdevelopment

[CEO Times @ceotimesnet]

Trax raises $3.7 million in seed funding

#funding #startups

[CEO Times @ceotimesnet]

($) Rate Update:

March 28,2023:
PKR 283.55 ( ⬆️ 0.01%)

#ExchangeRate #PakistanEconomy

[CEO Times @ceotimesnet]

@AtyabTahir appointed as CEO of HugoBank to build a digital bank in Pakistan

#appointment #digitalisation

[CEO Times @ceotimesnet]

Starlink is now officially registered with @SECPakistan

#launch #starlink

[CEO Times @ceotimesnet]

($) Rate Update:

March 21,2023:
PKR 283.92 ( ⬆️ 0.04%)

#ExchangeRate #PakistanEconomy

[CEO Times @ceotimesnet]

@maqsadpk raises $2.8 million of seed funding

#Funding #InvestmentNews

[CEO Times @ceotimesnet]

($) Rate Update:

March 15,2023:
PKR 282.25 (🔻0.20%)

#ExchangeRate #PakistanEconomy

[CEO Times @ceotimesnet]

($) Rate Update:

March 13,2023:
PKR 281.61 (🔻0.30%)

#ExchangeRate #PakistanEconomy

[CEO Times @ceotimesnet]

Aameer Karachiwalla appointed as the President & CEO of @KblLtd

#appointment