Govt set to replace net metering system with net billing policy

Govt set to replace net metering system with net billing policy Solar electricity exported to grid to be credited at lower rate. Previously units imported and exported were balanced one-for-one. Got, Discos term it necessary to cover grid infrastructure costs.  LAHORE: Marking a major policy shift with wide-ranging implications, the federal government has initiated the…

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Gulf investors launch $2bn arbitration case against Pakistan over KE dispute

Dispute traces back to Oct 2016, when investors agreed to sell 66.4% of K-Electric to Shanghai Electric Power Company Saudi, Kuwaiti investors file $2bn arbitration against Pakistan. K-Electric investors launch $2bn case under UNCITRAL rules. Pakistan gets 60 days to appoint arbitrator in K-Electric dispute. In a shocking development, Saudi and Kuwaiti investors in K-Electric…

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Fitch maintains Pakistan at ‘B-‘ under revised sovereign criteria

Fitch maintains Pakistan at ‘B-‘ under revised sovereign criteria Fitch affirms Pakistan’s long-term instruments at ‘B-‘. Agency assigns ‘RR4’ recovery rating and removes UCO. Debt trajectory and external liquidity pressures remain key risks. KARACHI: Fitch Ratings has affirmed Pakistan’s long-term instruments at ‘B-‘, assigned an ‘RR4’ recovery rating and removed the sovereign from Under Criteria…

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Iran releases protest toll, says 3,117 killed in ‘foreign-backed’ terrorism

Iranian authorities say 2,427 people were declared martyrs, 690 categorised as terrorists and rioters Tehran shows charred buses, highlights destruction from unrest. Authorities praise security forces’ restraint during protest wave. Exiled royals urge continued protests, say there’s no turning back. Iran put the protest death toll at 3,117, terming the unrest “foreign-backed acts of terrorism”…

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NADRA services now available at over 2,000 e-sahulat franchises in Pakistan

ISLAMABAD: The National Database and Registration Authority (NADRA) services are now accessible at more than 2,000 e-sahulat franchise locations across Pakistan. According to NADRA statement, citizens can renew their CNICs or apply for a replacement for lost identity cards at a franchise conveniently located near their home. For information on the nearest e-sahulat franchise, a…

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