Articles for tag: increase in the price of electricity, industries, KCCI, Latest, Package, Power, seek, surge

January 28, 2024

KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) and industrialists have appealed to the government to release Rs 7 billion and decide on the remaining outstanding Rs 21 billion against rising electricity consumption. They further demanded the immediate issuance of notification of reduced electricity tariff of 9 cents per kilowatt hour (kWh) to industrial consumers. Highlighting the miseries faced by Karachi-based industries, they told The Express Tribune that some small and medium enterprises (SMEs) have shut down their production, while large manufacturing units are going through trying times and are on the verge of collapse. Industrialists are facing crippling

January 20, 2024

News Desk

Business

Industries increase imports of plants, machinery

KARACHI: Pakistan gradually increased imports of plant and machinery, indicating that industries are buying capital goods to maintain existing production levels as well as make necessary upgrading and expansion of factories as they foresee a promising growth outlook. The Pakistan Bureau of Statistics (PBS) reported that machinery imports rose 41% to $671 million in December 2023 compared to $475 million in the same month last year. Overall, in the first half (July-December) of the current financial year, imports rose 11% to $3.60 billion against $3.35 billion in the corresponding period of the previous year. Industries have managed to increase imports

January 16, 2024

News Desk

Business

Artificial Intelligence Could Be a Game Changer for Pakistan’s Industries

The adoption of Artificial Intelligence (AI) can help industrialists control the high cost of doing business, as investment in AI has great potential to reduce business costs while introducing automation, enhancing decision-making and increasing of workforce productivity and reducing human error, AI mentors said. . Sharing views with The Express Tribune, they said the main reason for slow adoption is lack of data availability. Pakistan does not have a large and comprehensive digital footprint and most private and government organizations have fragmented and decentralized data. At its core, AI leverages existing data to learn and uses advanced algorithms to facilitate

January 2, 2024

News Desk

Business

The government is considering reducing electricity tariffs for industries

“Caretaker government to give road map to reduce capacity payments,” says Energy Minister Muhammad Ali The energy minister says the government is working to reduce cyclical debt. Soon roadmap for reducing capacity payments, says the minister. “The cost of fertilizers is very high, we are changing its regime, he says. ISLAMABAD: Acting Federal Minister for Power and Petroleum Muhammad Ali said on Tuesday that the government is considering taking a major step and reducing electricity tariffs for industries. Talking to you Geo NewsAli said the caretaker government was going to complete some major tasks as they had five to six

December 28, 2023

News Desk

Business

Extortion plagues Karachi’s industries

KARACHI: Businessmen have expressed serious concerns and are worried about the increasing slippages of extortion and targeted killing of traders, demanding the government and law enforcement agencies to take action against the criminals who are spreading terror in North Karachi, Haradhar, Mithandar, Korangi and other areas. Speaking to The Express Tribune, they pointed out that those running Small and Medium Enterprises (SMEs) have recently received a significant number of blackmails. “Industrialist Usama Moon, who belongs to the North Karachi Association of Commerce and Industry (NKATI), was killed in a targeted attack a few days ago. In addition, three other industrialists

December 5, 2023

News Desk

Business

90% of Sindh-Balochistan industries closed down

KARACHI: Industrialists claimed that nearly 90% of industries in Karachi and other industrial zones of Sindh and Balochistan remained closed on Monday to protest the higher duty on natural gas. “Nearly 90% of the industries in all the seven industrial zones of Karachi, along with other commercial bodies and industrial zones of Sindh and Balochistan, including the Lasbela Chamber of Commerce and Industry (LCCI), Nooriabad, Kotri and Hyderabad, have closed in solidarity. with the Karachi Chamber of Commerce and Industry (KCCI),” said Vice President of the Businessmen Group (BMG) Jawed Bilwani while addressing reporters at a press conference at the

November 3, 2023

News Desk

Business

As tariffs rise, traders seek Rs 400bn relief package

KARACHI, PAKISTAN: While rejecting the recent hike in gas tariffs, industrialists and traders have appealed to the caretaker government to provide a bailout package of Rs 200-400 billion to small and medium enterprises (MSMEs) for their survival and to cope with the new tariff. “The government didn’t think about the media at all. they are frustrated by the exorbitant electricity bill and rising gas rates. The gas price notification is ready and can be signed today or tomorrow,” said Federal Industrial Association of Commerce and Industry (FBATI) president Syed Raza Hussain. “It is a big issue of survival for SMEs.

Industries seek Rs 7b in power surge package

Industries increase imports of plants, machinery

Artificial Intelligence Could Be a Game Changer for Pakistan’s Industries

The government is considering reducing electricity tariffs for industries

Extortion plagues Karachi’s industries

90% of Sindh-Balochistan industries closed down

As tariffs rise, traders seek Rs 400bn relief package

Asif Khaliq drives blue-eyed Chaiwala Arshad Khan’s London success

Munir and Naqvi Join Makkah Pact Talks in Tehran

Iran Says the Border Is Open as Pakistan Ships LPG by Sea