Tag: scrapes

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

Govt scrapes taxes on renewable energy

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article image STAFF REPORT IBD: The government has withdrawn all taxes and duties on from Renewable Energy and Energy Efficiency products apparently in order to promote renewable energy and energy efficiency in the country.The impact of this order can be judged that according to rough estimates, the prices will fall by 38 per cent and approximately 7-8 MW of solar alone will be imported resultantly adding 7-8 MW to much needed electricity demand.It is also worth mentioning that most of the beneficiaries will…Read More