Connect with us

Business

“Zero Tolerance Policy”: Fruitful Countermeasures Against Power Pilferage, Hoarding, and Smuggling

Published

4 months ago

on

Since the initiative represents the leadership’s dedication to upholding the law and safeguarding the nation’s economy, the Government of Pakistan’s “zero tolerance policy” has begun to bear fruit.

The policy steps against smuggling, hoarding, and electricity pilfering, according to a statement, are intended to break up illicit networks, stabilize markets, and guarantee the availability of necessities at fair prices.

Many arrests and billions of rupees in recoveries have been made as a result of the regulations, which are enforced starting September 1, 2023, with support from the Special Investment and Facilitation Council.”

Three thousand and twenty-nine metric tonnes of illegal fertilizer movement have been stopped during anti-smuggling operations.

As part of their efforts to stop the smuggling of necessities, authorities also apprehended 361 metric tons of wheat and flour from smugglers.

The illicit sugar profiteering was stopped during the course of the last eleven months thanks to the seizure of 34,731 metric tonnes of sugar.

With the seizure of 149,710 rolls of fabric, the illicit textile market was pushed back.

Additionally, 7 million liters of Iranian oil were seized as a result of the smuggling crackdown, which helped to stabilize the fuel market.

Authorities have guaranteed farmers’ access to 43,644 metric tons of fertilizer that they had taken from hoarders since September 2023.

Parallel to this, hoarding led to the recovery of 2,505 metric tons of wheat, 57,051 metric tonnes of ghee, and 10,907 metric tonnes of sugar from market price manipulators.

Over 83,295 power thieves were detained by law enforcement agencies, which also recovered Rs 104 billion from those involved in power theft, totaling 173,212 feces against those implicated.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Irfan Siddiqui meets with the PM and informs him about the Senate performance of the parliamentary party.

Published

20 hours ago

on

By

The head of the Senate’s Foreign Affairs Standing Committee and the PML-N’s parliamentary leader paid Prime Minister Muhammad Shehbaz Sharif a visit in Islamabad.

Senator Irfan Siddiqui gave the Prime Minister an update on the Parliamentary Party’s Senate performance.

Additionally, Senator Irfan Siddiqui gave the Prime Minister an update on the Senate Standing Committee on Foreign Affairs’ performance.

He complimented the Prime Minister on his outstanding efforts to bring Pakistan’s economy back on track and meet its economic objectives.

Continue Reading

Business

SIFC Increases Direct Foreign Investment: Investment in the Energy Sector Rises by 120%

Published

20 hours ago

on

By

The Special Investment Facilitation Council is intended to help Pakistan’s energy sector attract $585.6 million in direct foreign investment in 2024–2025. The amount invested at the same time previous year was $266.3 million.

This is a notable 120% rise, mostly due to investments in gas exploration, oil, and power. Such expansion indicates heightened investor confidence and emphasizes the development potential in important areas.

The State Bank reports that foreign investment in other vital industries has increased by 48% to $771 million.

This advancement is a blatant testament to SIFC’s efficient investment procedure and quick project execution.

The purpose of the Special Investment Facilitation Council is to establish Pakistan as an investment hub by aggressively promoting regional trade and investment in the energy sector and other critical industries.

Continue Reading

Business

Discos report losses of Rs239 billion.

Published

21 hours ago

on

By

When compared to the same period last year, the data indicates that discos have decreased their losses in the first quarter of the current fiscal year.

The distribution businesses recorded losses of Rs239 billion in the first three months of the current fiscal year, a substantial decrease from the Rs308 billion losses sustained during the same period the previous year.

Additionally, the distribution businesses’ rate of recovery has improved. It has increased to 91% in the first quarter of this year from 84% in the same period last year, indicating success in revenue collection.

Regarding circular debt, the Power division observed a notable change. Last year, between July and October, the circular debt grew by Rs301 billion. Nonetheless, this year’s first four months saw a relatively modest increase in circular debt, totaling about Rs11 billion.

These enhancements show promising developments in the electricity sector’s financial health in Pakistan, where initiatives are being made to accelerate recovery rates and slow the expansion of circular debt.

Continue Reading

Trending