logo
Affordable electricity for public top priority: minister

Affordable electricity for public top priority: minister

KARACHI: Sindh Minister for Energy Syed Nasir Hussain Shah has stated that the Sindh government is taking serious steps to provide low-cost and environmentally friendly energy to the people.
He expressed these views during a demonstration organised by a private company at the Energy Department office where solar home systems, solar inverters with lithium batteries, and solar panels were showcased. Also present were the Secretary of the Energy Department, CEO of STDC, MD of Thar Coal Energy Board, and other relevant officials.
The Minister noted that the Sindh government established the province's first power plant under a Public-Private Partnership, and the electricity produced by this plant remains cheaper than electricity from other sources. This electricity is being delivered to relevant entities through the Sindh Transmission and Dispatch Company (STDC).
He added that two solar parks have recently been completed in Sindh, and electricity from these projects will also be provided at the lowest possible tariff. The purpose of these initiatives, he said, is to reduce reliance on fossil fuels and provide consumers relief from high electricity costs.
Nasir Hussain Shah stated, 'We are closely monitoring the basis on which companies are determining electricity tariffs. Our position is clear: instead of expensive electricity generated from fossil fuels, we must transition to solar and hybrid sources.'
He acknowledged that some international agreements present challenges, but assured that the Sindh government is seriously exploring ways to overcome them.
Copyright Business Recorder, 2025
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

LHC disposes of plea seeking 250 PTI workers recovery
LHC disposes of plea seeking 250 PTI workers recovery

Business Recorder

time41 minutes ago

  • Business Recorder

LHC disposes of plea seeking 250 PTI workers recovery

LAHORE: The Lahore High Court on Wednesday disposed of a petition of PTI leader Akmal Bari seeking recovery of around 250 PTI workers and advised the petitioner to file the petition again with details of the detainees. Earlier, a law officer contended that the petition is not maintainable. How a court could get recover the detainees without their details, he added. The petitioner's counsel, however, said the petitioner was compiling the list of the detainees. The court, therefore, disposed of the petition with direction to file it again with details of all the detainees. Copyright Business Recorder, 2025

SECP registers record 4,065 cos in July
SECP registers record 4,065 cos in July

Business Recorder

time2 hours ago

  • Business Recorder

SECP registers record 4,065 cos in July

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has achieved a historic milestone by registering a record 4,065 companies in July 2025-the highest monthly registrations to date, surpassing the previous record of 3,609 set in May 2025. With 99.9% of incorporations processed digitally, the total number of registered companies in Pakistan now stands at 262,309. The total paid-up capital for July 2025 amounted to Rs. 4.96 million. Private limited companies accounted for 57% of new registrations, followed by single-member companies at 39%. The remaining 4% comprised public unlisted companies, not-for-profit organizations, companies limited by guarantee, and limited liability partnerships. The Information Technology and e-commerce sectors led with 862 new incorporations, followed by trading (530), services (468), and real estate development and construction (398). Other active sectors included tourism and transport (295), food and beverages (203), education (148), marketing and advertisement (98), mining and quarrying (95), textiles (91), pharmaceuticals (86), agricultural farming (74), engineering (64), cosmetics and toiletries (59), and chemicals and healthcare (56). An additional 482 companies were registered across other sectors, including fuel and energy, non-profits under Section 42, auto and allied, power generation, and communications. Foreign investment also showed positive momentum, with 96 newly registered companies receiving capital from international investors across diverse jurisdictions. As part of its efforts to enhance market access and financial inclusion, the SECP issued a total of 60 licenses during the month across multiple regulatory domains, including five in capital markets, one in insurance, two to non-banking financial companies (NBFCs), and fifty-two to not-for-profit associations. Following the recent Registrars Conference, the SECP is launching a comprehensive awareness drive to promote the advantages of incorporation among the business community. These benefits include limited liability, separate legal entity status, enhanced credibility and scalability, perpetual succession, structured governance, tax efficiency, easier access to finance, and stronger brand protection. The SECP remains committed to strengthening its digital infrastructure and streamlining regulatory processes to promote entrepreneurship, attract investment, and support sustainable economic development. Copyright Business Recorder, 2025

Cabinet appoints Shoaib as SLIC CEO for another 3 years
Cabinet appoints Shoaib as SLIC CEO for another 3 years

Business Recorder

time2 hours ago

  • Business Recorder

Cabinet appoints Shoaib as SLIC CEO for another 3 years

KARACHI: Shoaib Javed Hussain has been appointed as the Chief Executive Officer of State Life Insurance Corporation of Pakistan (SLIC), for further 3 years effective August 6, 2025. The Federal Cabinet, on the recommendation of the Ministry of Commerce, has appointed Shoaib as the CEO of SLIC. Previously, he took charge of CEO in March 2021. The corporation has undergone a significant transformation, marked by innovation and significant growth, since Hussain took charge in March 2021. In just four years, SLIC has grown its market share, recording an extraordinary 300 percent increase in profit, a 181 percent surge in revenue growth, and a 100 percent increase in profit allocated to policyholders. Growth has been driven by accelerated digital transformation, the launch of innovative products, and enhancements in service delivery. Copyright Business Recorder, 2025

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store