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Articles for tag: business, entities, Increased, Latest, losses, net, stateowned, year

January 10, 2026

News Desk

Net losses of state-owned entities increased by 300% in one year

Charging higher taxes on non-filers has become a source of easy revenue generation, rather than broadening the tax base. photo: file Islamabad: The financial health of state-owned enterprises (SOEs) deteriorated further in the first full fiscal year of Prime Minister Shehbaz Sharif’s government, as their net losses rose 300 percent and these companies received an annual fiscal support of Rs2.1 trillion, according to results announced by the Finance Ministry on Friday. The combined revenue of SOEs also fell by Rs 1.4 trillion to Rs 12.4 trillion in the 2024-25 financial year, which ended in June last year. According to the

November 11, 2025

News Desk

The net metering share in the energy mix is ​​increasing

Solar adoption up 28.1% in MoM as high tariffs drive shift, but grid underutilization creates fiscal burden KARACHI: Net metering’s share in Pakistan’s total electricity generation increased by 57 basis points year-on-year in September 2025, reflecting the continued shift towards solar adoption and reduced reliance on the national grid, according to data compiled by Arif Habib Limited (AHL) based on the latest NEPRA data. Total electricity production rose 0.8% year-on-year in September 2025, while net metering units rose 28.1% month-on-month, highlighting the growing contribution of distributed solar systems installed by households and industries. According to NEPRA estimates, electricity demand is

November 2, 2025

News Desk

Government mulls reduction in solar net metering buy-in rate above Rs 10 per unit

A worker kneels next to one of the solar panels above the water surface of the Sirindhorn Dam in Ubon Ratchathani, Thailand, April 8, 2021.— Reuters Rooftop solar reduces grid sales by 3.2 billion units, costing Rs 101 billion in revenue. The Power Division warns that losses could reach Rs 545 billion by FY2034. PM orders review of solar power purchase rate and tariff implications. Islamabad: The government is considering reducing the buy-in rate for solar net metering from Rs 22 per unit to around Rs 11.30 per unit after estimates showed that the scheme has started imposing a heavy

August 18, 2024

News Desk

SBP strengthens net borrowing limit for MSMEs

KARACHI: The State Bank of Pakistan (SBP), in order to facilitate the access of the small and medium enterprise (SME) sector to finance, has increased the net borrowing limit to Rs 10 million. The banking regulator has amended the prudential regulations for SME financing and Regulation R-4 for SMEs on net funding limit has been updated accordingly to increase the net lending limit for SME borrowers from Rs 5 million to Rs 10 million Rs. The SME, Housing and Sustainable Finance Department of the SBP has issued a circular, advising the heads of all banks and development finance institutions (DFIs)

July 18, 2024

News Desk

PM directs FBR to bring 4.9 million wealthy individuals into tax net

Prime Minister Shehbaz Sharif has directed officials of the Federal Board of Revenue (FBR) to bring 4.9 million rich and affluent individuals into the tax net without burdening the poor. According to a statement from the Prime Minister’s Office on Thursday, Prime Minister Sharif chaired a four-hour review meeting that focused on FBR reforms and digitization. The session included updates on the progress of the Inland Revenue and Customs reforms over the past eight weeks. “FBR’s digitization process is being overseen by internationally renowned consultants McKinsey and initial results are promising,” noted an FBR spokesperson. Prime Minister Sharif highlighted a

July 6, 2024

News Desk

FBR is considering options to bring traders into the tax net

A man walks with sacks of supplies on his shoulder to deliver to a nearby store in a market in Karachi, Pakistan, June 11, 2024. — Reuters FBR is thinking of unveiling simplified fixed scheme with base. The board seeks to bring 3.6 million retailers into the tax net. Only 78 retailers were enrolled in the Tajir Dost Scheme. ISLAMABAD: Amid the dismal performance of the Tajir Dost Scheme which enrolls only 44,830 retailers, the Federal Board of Revenue (FBR) is mulling options to unveil a simplified fixed scheme based on shop valuation to bring 3.6 million retailers into the

July 5, 2024

News Desk

The net bowler stuns Rizwan and Iftikhar in practice

Pakistan all-rounder Mohammad Rizwan and all-rounder Iftikhar Ahmed faced unexpected challenges from local net bowler Nouman Khan Khaira during a recent training session. A video circulating on social media shows Pakistan’s stars struggling to stay in the middle of the ball against Khaira’s impressive deliveries. The video reveals that both the international cricketers, known for their prowess on the global stage, found it difficult to handle the bowling of the local talent. Nouman Khan Khaira, relatively unknown outside local circles, has shown remarkable skill and consistency. His performance in the nets made the experienced players work hard, showing the depth

June 26, 2024

News Desk

EU approves €650 billion plan for cities to achieve net zero by 2030

BRUSSELS: A group of 112 cities aiming to eliminate net greenhouse gas emissions by 2030 will need a total of 650 billion euros ($695.83 billion) in investment to meet the pledge, according to a European Union initiative on Wednesday. Part of the EU’s ‘100 Climate Neutral and Smart Cities’ Mission’, the cities’ target for net zero emissions is more ambitious than most governments’, with the EU and Britain setting a 2050 deadline. After 377 cities applied to join the programme, 100 from the bloc and 12 from associated countries were selected and are developing a climate plan with support from

June 12, 2024

News Desk

The Minister of Finance seeks to abolish the category of non-filers to widen the tax net

Finance Minister Muhammad Aurangzeb is interviewed during the G20 Finance Ministers and Central Bank Governors meeting at the 2024 annual spring meetings of the IMF and the World Bank in Washington, U.S., April 18, 2024. — Reuters We need to bring everyone into the tax net, says the finance minister. FinMin Aurangzeb says tax to GDP ratio should be increased. No sales tax on POL products: financial czar. Finance Minister Muhammad Aurangzeb stressed the need to widen the tax net, saying the country cannot function with a tax-to-GDP ratio of 9.5%. “We have to bring everyone into the tax net.

May 29, 2024

News Desk

Is net metering really hurting Discos?

Islamabad: The notion that ending the net metering policy is necessary is a myth propagated by the Electricity Distribution Companies (Discos) with the support of the Ministry of Power. This move appears to be an attempt to maintain their monopoly on power supply. Moreover, it appears to be aimed at safeguarding independent power producers (IPPs) who are milking around Rs 2.8 trillion from consumers in capacity payments. Experts say that currently Discos are exploiting people who have installed net metering. These consumers get only Rs 22 per unit for their solar power, while Discos resell it to other users at

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