
SEHC achieves revenue target of Rs113m for FY25: minister
The meeting was attended by Sindh Energy Department Secretary Mushtaq Ahmed Soomro, Additional Secretary Zain-ul-Abideen, MD Thar Coal Energy Board Tariq Ali Shah, CEO STDC Saleem Ahmed Shaikh, Senior GM Technical STDC Taqi Saeed, and other relevant officials.
On the occasion, Tufail Ahmed Khoso briefed the meeting and informed that as a result of investments made by the company, it will continue to earn an annual profit of Rs 250 million for four years.
The energy minister was further informed that in 2023-24 the company invested Rs 34 million in the oil and gas sector, while in 2024-25, Rs 105 million were invested — meaning a 209% increase compared to last year.
Nasir Shah directed that the Sindh Energy Holding Company should only invest in those oil and gas sectors where profits are guaranteed. He further instructed that a summary of proposals regarding SEHC should be prepared for the Chief Minister of Sindh so that future steps and planning can proceed in accordance with the Chief Minister's directives.
Copyright Business Recorder, 2025
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Business Recorder
5 hours ago
- Business Recorder
Bank Makramah Limited sells Cullinan Tower in Karachi
Bank Makramah Limited (BML) announced on Friday that it had received the down payment for Cullinan Tower, formerly Summit Tower. The BML issued a notice to the Pakistan Stock Exchange today in this regard. 'We hereby convey that subsequent to the approval of the Bank Makramah Limited's Board of Directors, in their previous meeting held on July 3, 2025, for the sale of Cullinan Tower (formerly Summit Tower) situated at Plot No. G-2, Block-2, Scheme-5, Clifton, Karachi, the Sale Purchase Agreement (SPA) has been executed today and down payment received thereagainst,' the notice read. Recently, the BML had also announced significant capital injections alongside a major strategic asset sale. On July 5, BML's Board of Directors approved the sale of Cullinan Tower in Clifton, Karachi, for a confirmed offer of Rs 12 billion.


Business Recorder
13 hours ago
- Business Recorder
Business community leader assails ‘unpredictable' tax policies'
KARACHI: The Chairman of the National Business Group Pakistan, the President of the Pakistan Businessmen and Intellectuals Forum, the President of the All Karachi Industrial Alliance, the Chairman of the FPCCI Advisory Board, Mian Zahid Hussain has said that the business community is currently upset by unpredictable and inconsistent tax policies, which are discouraging both domestic and foreign investment. If the government truly wants meaningful economic recovery, it must urgently take steps to expand the economic base and tax net, reduce production costs, and ensure that the tax burden is shared fairly among all citizens. Otherwise, the ongoing crisis will only get worse. He stated that the pace of tax reforms is still disappointing. He explained that resistance to the digital economy is adding to the growing tax burden on the poor, making their lives harder. He pointed out that current economic policies are worsening unemployment and poverty nationwide. Mian Zahid Hussain said that strict fiscal and monetary policies have heavily impacted industrial activity, job opportunities, and consumers' purchasing power. According to the World Bank, Pakistan's poverty rate has hit 40.5 percent, with unemployment at around 22 percent, revealing the real challenges behind ongoing reforms. He highlighted that 75 to 80 percent of the Federal Board of Revenue's (FBR) revenue comes from withholding taxes, which are technically indirect taxes. These taxes place a disproportionate burden on salaried and middle-income groups already struggling with inflation, high electricity costs, and rising interest rates. He added that the business and industrial communities harbour strong concerns over the powers granted to FBR officers under the Finance Bill 2025. Mian Zahid Hussain warned that, in pursuit of the Rs 14,300 billion tax target, the government must not jeopardize the country's Rs 123,000 billion economy. Instead, efforts should focus on expanding the overall economic base, which would naturally increase tax revenues. He stressed that genuine tax reform is not about further burdening current taxpayers but about expanding the tax base. Without including the country's large informal economy in the tax system, achieving the 13% tax-to-GDP ratio sustainably is unlikely. For long-term progress, Mian Zahid Hussain stressed the crucial need for transparency, fairness, and accountability to be incorporated into the tax system. Copyright Business Recorder, 2025


Business Recorder
13 hours ago
- Business Recorder
430 UAF students awarded Scotland Pakistan Scholarship so far
FAISALABAD: As many as 430 female students from the University of Agriculture Faisalabad have benefited from the Scotland Pakistan Scholarship worth Rs 48 million so far, whereas 57 students were awarded scholarship certificates during a ceremony held on Wednesday. Inclusive Education Lead (International Development), at the Scottish Government, James McNulty, Education and Skills, British Council, Hamza Salim, Project Coordinator, Scotland Scholarship Scheme, British Council, Irum Amin visited the University of Agriculture Faisalabad and called on UAF Vice Chancellor Prof Dr Zulfiqar Ali and disbursed the scholarship certificates. The meeting also discussed the students' training programmes, training of trainers opportunities, supply chain, food certification, and other areas of collaboration for food security and agricultural growth. James McNulty said that they had long ties in the education sector with Pakistan and provided ample opportunities for scholarships to excel in their respective field. He said that the Scotland Pakistan Scholarships for young women and girls fund graduate studies for Pakistani women in any HEC-recognized university. Funded by the Scottish Government, these grants aim to make higher education more accessible to women, supporting them in achieving their potential and ambition. He said that women's scholarship is a step towards removing obstacles to quality education and paving the way for economic development. Prof Dr Zulfiqar Ali said that girls are shining in every sphere of life. He said that the scholarships were opening ample opportunities for the female students to excel in life. He said that the agriculture sector was facing numerous challenges. We need to develop the strategy and train the manpower for food security and agrarian development that will pave the way for a bright future. He pointed out that a good portion of the UAF intake UAF from the rural areas. Being the custodian of agricultural development and the oldest agricultural university in the subcontinent, all possible measures were being taken to address the agricultural issues on a scientific basis. Hamza Salim from the British Council said that they were providing opportunities through supporting young people to achieve the education, qualifications, and skills needed to reach their potential in their future careers. Director Financial Assistance and University Advancement (DFA&UA), Dr Nazia Ehsan, said many of the students hail from low-income classes, and it is difficult for them to pay the fees. Therefore, the university, with the financial support of the federal and provincial governments, International donors, and philanthropists, is taking all possible measures to provide scholarships for the deserving students so that they can quench their thirst for knowledge. Copyright Business Recorder, 2025