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Express Tribune
3 days ago
- Business
- Express Tribune
KCCI urges PM to release Rs23b power subsidy
Listen to article President of the Karachi Chamber of Commerce & Industry (KCCI), Muhammad Jawed Bilwani, has urged Prime Minister Shehbaz Sharif to ensure the release of the long-overdue Rs23 billion relief in electricity bills on incremental consumption. In a statement released on Friday, he called for the inclusion of this relief in the upcoming federal budget for FY2025-26, lamenting that although it was allocated in earlier budgets, it has yet to be disbursed — affecting only Karachi's industrial sector, while the rest of the country has received the benefit. As per the statement, Bilwani wrote a letter to the prime minister, acknowledging the government's steps to support the business community but expressed deep concern over the continued delay in providing the subsidy for the period from July 1, 2021, to October 21, 2023. He noted that Karachi's industries remain under immense financial pressure due to administrative and legal complications. He stated that the total subsidy for the period stands at Rs33 billion, of which Rs23 billion is undisputed and should have already been disbursed. Funds were earmarked in previous budgets — Rs22 billion in FY2021-22, Rs13 billion in FY2022-23, and Rs7 billion in FY2023-24 — but the subsidy has not reached recipients due to procedural delays involving K-Electric. "K-Electric (KE) operated without a stay order for nearly nine months yet failed to pass on the subsidy to consumers," said Bilwani, adding that NEPRA did not enforce compliance, and legal obstacles have dragged the issue. He pointed out that KE's appeals were dismissed by a tribunal in July 2024, but the matter remains stalled due to a stay order from the Islamabad High Court. KCCI has urged immediate verification of the figures by the Power Division and NEPRA, stressing that the verified subsidy should be reflected in the upcoming budget. Crucially, KCCI proposed that the undisputed Rs23 billion be paid directly to industrial consumers instead of routing it through KE to avoid further delays. "This is not just a legal obligation; it is a matter of economic justice and national interest," Bilwani said.
Business Recorder
3 days ago
- Business
- Business Recorder
PM urged to expedite Rs23bn power bill relief
KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Muhammad Jawed Bilwani has appealed the Prime Minister Shehbaz Sharif to ensure that the long-pending relief of Rs23 billion in the electricity bills on incremental consumption is released without further delay by duly incorporating provision in the forthcoming federal budget for FY 2025–26. Despite being allocated in previous budgets, the relief has yet to be disbursed, causing severe financial stress to the Karachi's industrial sector only as this relief has been provided to the rest of the country. In a formal letter addressed to the Prime Minister, President KCCI acknowledged the government's efforts to address challenges faced by the business community and improve Pakistan's economic landscape. However, he expressed grave concern over the delay in releasing the subsidy for incremental electricity consumption from July 1, 2021, to October 21, 2023, stressing that Karachi's industries continue to bear the brunt of administrative and legal setbacks. He pointed out that the total subsidy amount for the period is Rs33 billion, of which Rs23 billion is undisputed and should have been disbursed. Budgetary allocations were already made in FY 2021-22 (Rs22 billion), FY 2022-23 (Rs13 billion), and FY 2023-24 (Rs7 billion), but the funds have not reached the intended recipients due to procedural and legal delays involving K-Electric. 'K-Electric operated without a stay order for nearly nine months yet failed to pass on the subsidy to consumers,' said Bilwani, pointing to the lack of enforcement by NEPRA and subsequent legal hurdles that have prolonged the crisis. He added that despite the dismissal of KE's appeals by a Tribunal in July 2024, the matter stands stalled due to a stay order granted by the Islamabad High Court. KCCI emphasized the need for immediate verification of the subsidy figures by the Power Division and NEPRA, urging the government to ensure that the verified amount is reflected in the upcoming federal budget. More importantly, KCCI proposed that the undisputed Rs23 billion be released directly to industrial consumers rather than through KE, in order to prevent further delays. 'This is not just a matter of legal obligation; it is a question of economic justice and national interest,' Bilwani stated. 'Ensuring that Karachi's industries receive this long-overdue relief is essential for sustaining industrial operations and maintaining economic stability across Pakistan', he added. Jawed Bilwani hoped that the Prime Minister will intervene swiftly to resolve the issue, restore confidence in government policy, and deliver the much-needed support to Karachi's industrial backbone. Copyright Business Recorder, 2025
Express Tribune
26-05-2025
- Express Tribune
Truckload of lubricant looted
Incidents of highway robberies are resurging on the M9 Motorway in Jamshoro, where two trucks carrying valuable cargo have been looted within a week. On Sunday, truck driver Kalaamuddin Khan reported to Lunikot police that robbers stole lubricant oil worth Rs140 million. He said a car intercepted their truck, and he and his brother were held at gunpoint, blindfolded, and tied up before being forced into the rear seat of the cabin. The suspects drove the truck to Bhit Shah, Matiari, where they vanished, leaving the container empty. The shipment, 21,300 liters of oil, was en route from Karachi to Faisalabad. The robbers also took their phones and cash. Although the complaint was filed, an FIR had yet to be registered by evening. Earlier, on May 17, a truck transporting Rs33 million worth of medicines from Karachi to Rawalpindi was looted similarly. Driver Rehman Hussain said the vehicle was intercepted around 3:35 am, and an FIR was registered at Jamshoro police station.
Express Tribune
13-05-2025
- Business
- Express Tribune
Interchange redesign raises Ring Road cost
With 50% of the Rawalpindi Ring Road project completed, authorities have decided to redesign the Thalian Interchange into a broad-based structure to accommodate higher traffic volumes. This change comes after consultations with the National Highway Authority (NHA), as the interchange falls within its jurisdiction. As a result, the project's overall cost is now expected to escalate, with the contractor also demanding increased compensation due to construction cost escalations. Originally, the revised PC-1 for the project was approved at Rs33 billion by ECNEC, reduced from an earlier proposed Rs39b. However, due to the redesign of the Thalian Interchange, increased land acquisition, and rising construction costs, the budget is now projected to rise againpotentially reaching Rs39 to Rs40b. The contractor argues that the current rates date back to 2021, while costs in 2025 have significantly increased. The Ring Road, stretching 38.3 kilometers from GT Road Rawat (Banth Mor) to Thalian Motorway Interchange, is progressing rapidly. Under the execution of the Rawalpindi Development Authority (RDA)'s Project Management Unit (PMU), and contracted to the Frontier Works Organization (FWO), the project includes five interchanges (Banth, Chak Beli Khan, Adiala Road, Chakri Road, and Thalian), two river bridges, seven nullah bridges, one railway bridge, 11 overpasses, 10 subways, and 53 culverts. In light of the redesign at Thalian, the RDA has been assigned to initiate Section 4 for acquiring additional land. The new interchange will not only handle current traffic more efficiently but also serve future expansion plans, particularly Phase 2 of the Ring Road. Chief Minister Maryam Nawaz has set a deadline of December 2025 for the project's completion. Meanwhile, the proposal to establish economic zones along both sides of the Ring Road has yet to gain approval. The Rawalpindi and Islamabad Chambers of Commerce and Industry (CCIs), along with other business associations, continue to push for this initiative, considering it a potential game changer for economic development in the region.
Express Tribune
29-04-2025
- Business
- Express Tribune
Ring Road project reaches halfway mark
Almost 50% of the Rawalpindi Ring Road (RRR) project has so far been completed and construction work has accelerated to meet the December 2025 deadline set by the chief minister of Punjab. The revised PC-1 worth Rs33 billion has been approved by the Executive Committee of the National Economic Council (ECNEC). The total length of the RRR will be 38.3 kilometers. However, a final decision has yet to be made regarding the establishment of an economic zone along the road. The key road project starts near Baanth Mor, Rawat, on GT Road and will culminate at the Thalian Interchange on the Motorway. The route includes the construction of five interchanges, two river bridges, seven stormwater bridges, one railway bridge, 11 overpasses, 10 underpasses, and 53 culverts. The project is being executed under the supervision of the Project Management Unit (PMU), established by the Rawalpindi Development Authority (RDA), and the contractor firm is the Frontier Works Organization (FWO). The five interchanges are being constructed at Baanth, Chak Beli Khan, Adiala Road, Chakri Road, and Thalian. Although there have been continuous demands from the Rawalpindi and Islamabad Chambers of Commerce and Industry, as well as local business communities, to establish economic zones along both sides of the Ring Road, the proposal has not yet received formal approval. It is worth noting that the RRR is considered a "missing link" in the city's road infrastructure. With increasing traffic congestion on GT Road and inner city routes, the road is seen as the only viable alternative for diverting heavy traffic. The road is also expected to contribute to economic development through the proposed economic zones and help reduce environmental pollution. Furthermore, it will significantly reduce road accidents and ensure smoother and uninterrupted traffic flow. Director General of RDA, Kinza Murtaza, confirmed that the revised PC-1 of Rs33b has been approved, funds are available, and the project's progress is being monitored daily.
