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“Only 13 percent of toll tax collected by NHA from highways.”

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3 months ago

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Speaking to Federal Minister for Communications, Privatization, and Board of Investment Abdul Aleem Khan during a briefing on Wednesday, NHA Chairman Arshad Majeed Mohmand stated as much.

According to him, the Federal Minister for Communication has instructed for the refining process to begin, and both short- and long-term policy actions have been recommended.

Corruption and incompetence were not acceptable among NHA employees, according to Abdul Aleem Khan. In addition, he indicated that the private sector may be given control over toll collection in places where there were issues with revenue collection.

He gave the National Highway Authority the order to set annual revenue targets each year, which will undoubtedly boost the organization’s income and efficiency while also making a noticeable and beneficial impact.

In addition to utilizing professional expertise, people, and existing resources, the minister recommended that the NHA implement a self-reliance policy. He said, “In the future, NHA should be a financially secure and independent entity.”

While developing a business model that satisfies contemporary criteria has become imperative, one of the government’s primary concerns was improving the means of transportation.

The speaker went on, “By instituting a new vision in NHA, we should not only enhance our capacity globally by providing our expert services to other countries but also earn a significant amount of foreign exchange.”

High-quality roadways and motorways are being built throughout the nation, according to Federal Minister for Communications, Privatization, and Board of Investment Abdul Aleem Khan.

At a departmental briefing of the National Highway Authority (NHA), attended by the Chairman of NHA, the Federal Secretary of Communications, and other senior officers, the minister expressed the view that going forward, no motorway will be built with fewer than six lanes, and that the NHA’s top priorities will be the motorways from Karachi to Sukkhar and Sialkot, Kabul to Islamabad.

To ensure that they can meet future demands, he additionally ordered that all motorways be built with at least three lanes on one side.

He suggested building a toll plaza for high traffic and building public and private transportation in order to maximize revenue collection for the NHA.

The axle load regulations on these roads and motorways, he stated, should be rigidly enforced and should never be broken.

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Business

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

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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.

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Business

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

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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.

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Business

Discos report losses of Rs239 billion.

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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.

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