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Pakistan’s solar panel prices are at an all-time low.

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Insiders in the industry revealed that the drastic drop in lithium battery prices globally is the main factor responsible for this price decrease.

The solar energy business has experienced a significant shakeup due to the roughly 50% decline in lithium battery prices over the last year.

Due to importers’ refusal to share the savings with local customers, dry battery prices are mostly unchanged.

The rising demand for net metering has propelled Pakistan’s solar energy industry to spectacular growth since 2023. Numerous customers have shifted to more cost-effective and dependable solar energy options as a result of the nation’s reliance on pricey grid electricity.

Pakistan is well-positioned to maintain its increasing trend in the use of renewable energy sources, as solar kits are now available at historically low prices.

The Power Division denied allegations earlier on April 27 that suggested a set tax on solar energy will be implemented, calling the claims unfounded and deceptive.

According to the Power Division, no such report about the implementation of a fixed tariff on solar energy has been provided to the government.

Explore Further: Solar Solution in Pakistan: Everything You Should Know

The announcement followed reports from sources yesterday that the Central Power Purchasing Agency (CPPA) suggested taxing anyone who use solar panels for home or business use at the federal level.

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Islamic Sukuk Bonds: Government Is Expected To Begin Bond Auction Next Week

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There is now more positive economic news for the people of Pakistan. The government is anticipated to begin the Sukuk Islamic Bond auction next week, after the central bank’s announcement of a large drop in the policy rate.

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SIFC Encourages Green Tourism: Reforming Visas to Increase Investment

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Enhancing investment in the tourism sector, Green Tourism Pakistan’s initiative has received backing from the Special Investment Facilitation Council.

Visa-On-Arrival for 126 countries, Visa-Free Entry for Gulf Cooperation Council nations, and 24-hour expedited visa processing are some of the main features of the Green Tourism Visa Policy.

It is anticipated that these endeavors will draw in about 80 million dollars in foreign direct investment and 8.3 billion rupees in domestic investment.

Green Tourism Private Limited has introduced hunting resorts in Naltar, Hunza, and Skardu, along with four- and five-star city hotels, to improve the tourism experience.

In the first phase of the project, 17 of the 78 areas have seen the start of development activity.

Approved is a central authority for Green Tourism that will supervise the growth of Air Operations.

To promote Religious Tourism, extra precautions have been taken to guarantee the security of visitors from all religions, including Sikhs and Buddhists.

Furthermore, in order to improve the quality of the tourist experience, the green guide quality program has been introduced to supply top-notch tour guides.

There is now a deluxe bus excursion from Islamabad to Peshawar that promotes local culture.

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July 2024 export data from Pakistan shows a significant rise.

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The Strategic Investment Facilitation Council (SIFC) has been instrumental in improving Pakistani products’ access to international markets, as seen by the significant surge in exports from the country at the start of the 2024–25 fiscal year.

With a 7.26% rise over the same month the previous year, July 2024 exports to the US were $476.017 million. After increasing by 7.74% annually, the United Arab Emirates emerged as the second-largest export destination.

The third and fourth places were occupied by exports to the UK ($183.303 million) and China ($60.100 million). A substantial increase in exports to Afghanistan was recorded in July of this year, rising from $46.262 million to $88.065 million, largely due to successful anti-smuggling efforts.

With a combined export volume of $553.951 million, more important export destinations included Germany, the Netherlands, Italy, Spain, Saudi Arabia, and Turkey.

A bright future for the national economy is suggested by the growing confidence major international markets have in Pakistani exports. Through the efforts of SIFC and the government, this greater access to global markets has been made possible.

Pakistan’s economy is predicted to remain stable as a result of the export growth that SIFC has enabled.

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