Tag: billions

Renewable energy sector attracts billions in investment

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article image STAFF REPORT ISB: The renewable energy sector has attracted foreign investment of over $3 billion during the last year, indicating investment potential of this sector in the country. "Pakistan has become a choice investment destination for private investors mainly due the potential, a robust policy framework, lucrative tariff structures and bankable security documents," said Alternative Energy Development Board (AEDB) Chief Executive Officer Amjad Ali Awan while talking to media…Read More

CCP scrapes ICH, fines LDI operators with billions

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article image STAFF REPORT IBD: The Competition Commission of Pakistan (CCP) has nullified the International Clearing House (ICH) and has imposed a penalty of 7.5 per cent of annual turnover on each of 14 LDI operator that was part of the agreement for violating section 4 of the Competition Act 2010.The CCP maintained that volume of incoming calls as on September 2012 before the ICH agreement was 1.9 billion minutes, which had decreased to 579 million minutes in February 2013 after the establishment of ICH.…Read More

Delaying tactics incur billions of rupees loss to national kitty

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article image STAFF REPORT IBD: The country’s export may hit another stumbling block due to government’s failure to set up much-needed Halal Board for Halal Food Accreditation which will go a long way to bolster country’s export and local sale.An official who wished not to be named told this scribe that Halal Board will provide policy guidelines to the Pakistan National Accreditation Counsel (PNAC) and Pakistan Standard Quality Control Authority (PSQCA).The Ministry of Science and Technology had…Read More