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Whenever difficult situations arise, look skywards

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The state is considering purchasing energy from Russia.

Based on the most recent data from the National Electric Power Regulatory Authority (NEPRA), The total cost for generating electricity in the country increased by 131%, reaching Rs13.15 Kilowatts in May 2022 as compared with Rs5.7 kWh in May of last year.

The price hike was due to the rise in power generation rates, including furnace oil (FO), Re-gasified Liquified Natural Gas (RLNG), and coal, which were Rs33.68, Rs27.93, and Rs30.09 and Rs30.09, respectively.

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Regarding the nation’s energy mix, Non-renewable energy sources comprise more than 70% of the power generated in May.

The remainder is comprised of renewable energy sources. Hydroelectric power is the most prominent, accounting for 24% of energy generation. In contrast, wind power accounts for 5 percent, and solar power contributes only a percent of the country’s energy requirements and generated only 90 kWh last month.

The impact of solar energy could be boosted massively in Pakistan, according to a World Bank study in 2020, which highlighted its enormous potential to produce solar energy.

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“Utilising just 0.071 %of the country’s area for solar photovoltaic (solar PV) power generation would meet Pakistan’s current electricity demand,” was the report’s conclusion in 2012.

The need for power generation has increased since 2020, but it has also seen advances in solar power technology.

Pakistan doesn’t have to go far to see its solar energy potential since two of its close neighbors, i.e., China and India, are quickly emerging as significant producers of solar power, adding lots of gigawatts of solar-generated power each year to their grids.

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According to the International Energy Agency (IEA), China remains the leader in capacity, with 253.4 GW installed, almost one-third of the global PV capacity installed.

Additionally, less than 100km from Pakistan lies the Bhadla solar power plant. In Rajasthan, India, the plant was recently recognized as the biggest photovoltaic park on earth. It has a capacity of 2245MW because our neighbor to the east plans to develop more parks over the next few years.

This can be considered an example since Pakistan and India have vast expanses of vacant lands between Sindh and Punjab – also known as the Thar and Cholistan areas – which receive plenty of sunshine and very little rain all year round – perfect for converting into solar power hubs.

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This will not only aid in generating additional electricity for a nation with frequent power outages but also move away from costly fossil fuels that are mostly imported and create an enormous hole in the country’s budget.

The cost of imports for oil in Pakistan has already reached $20 billion within the first 11 months of the fiscal year – the increase was more than 90%, according to data published by the Pakistan Bureau of Statistics (PBS).

With prices in the international market hovering above $100 per barrel, increasing imports could only exacerbate the fragile economy.

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Imports of fuel oil from Pakistan be at a 4-year high as it struggles to purchase LNG

In the same way, rates for various other commodities for energy have been rising significantly, forcing the government to increase electricity prices. This could raise inflation and render local industries less competitive on the international market due to rising manufacturing costs.

Thus, switching to solar power is not a climate change objective for Pakistan instead, it is a crucial step to guarantee its economic development.

But, the authority has to be created at the government level, including private and public parties.

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The authorities will be responsible not just for constructing and implementing a solar array but for conducting research and development Research & Development needed to attain self-reliance in the renewable energy industry.

The government has been a proponent of renewable energy sources since Minister of Power Khurram Dastagir Khan has recently said sources of energy like solar energy and hydel were the most viable options.

However, recent announcements by the budget government could be described as sloppy because, although they did announce sales tax exemptions for solar panels’ import and distribution, they didn’t offer similar relief for the items needed to convert solar energy into electricity, i.e.,,, batteries.

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On a positive note, it was reported that the State Bank Pakistan (SBP) had announced an extension to the scheme of financing renewable energy for two years, until June 30th, 2024.

The scheme offers concessionary financing for large-scale renewable energy power plants and smaller-scale green energy options.

The positive side is that there’s already growing interested in the acceptance of solar energy for both industrial and personal use by the general public, which is caused by the rising cost of electricity across the nation.

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But, a push is required to begin the solar transformation in Pakistan.

The passenger: “What are you saying? Yesterday, I paid Rs. 20 to pay for my bus fare. Now you’re charging me the amount of Rs. 30?”

Conductor of the bus: “Yes, that was just a few days ago, but don’t you know that the government hiked up petroleum prices the night before. Transporters can’t do anything other than increasing the cost of fares.”

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Traveler: “This is just unfair! The government should kill us instead of letting us suffer as they do.”

Bus conductor “Don’t create a fuss,” sir. We, too, need to run our kitchens. I am unable to trade in my clothing for food for my kids.

Discussions on these topics have become commonplace in Pakistan, particularly after recent increases in the petroleum product rate announced by the government in two weeks.

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Whenever difficult situations arise, look skywards

The move, defended by the current government as essential and in the greater economic interest of the nation, which is currently amidst various issues, i.e., the balance of payments and declining foreign exchange reserves, has increased inflation and enthralled the masses.

A typical response from the government so far was to blame previous governments and continually remind people that the energy prices remain excessive in global markets.

However, the second part of the argument is genuine due to the increase in demand after the elimination of Covid-19-induced measures. The ongoing Ukraine-Russia conflict has profoundly affected global supply chains increasing the price of commodities, particularly energy.

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Priorities for the world too have changed in the wake of recent developments. Countries, particularly within the West, are concerned about their energy security and are questioning their dependence on energy requirements upon Russia and any other nation in particular.

This has forced the developed world to seek more natural sources and, in particular, the resurgence of the interest in renewable energy sources that are renewable and increasingly more affordable.

Furthermore, it is the case in Pakistan, a nation with an expanding population of 220 million and where the need for energy is expected to grow shortly. Pakistan’s decision-makers must take action on the weaknesses of the energy sector.

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Things To Consider When Hiring A Towing Company In Edmonton

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Things To Consider When Hiring A Towing Company In Edmonton

Things To Consider When Hiring A Towing Company In Edmonton Being involved in a car accident can be the most nerve-racking experience for many people. However, you can make your life easier if you know how to handle the situation effectively and ease the tension. If nobody is hurt in the collision, you should first try to get your vehicle off the road.

Depending on the accident’s severity, you might need your car to be towed to a nearby auto workshop. Some people do have roadside insurance, which covers towing expenses. If you don’t have yourself protected against roadside emergencies, you might need to call a towing company in Edmonton. It’s not wise to contact just any service provider. There are some dos and don’ts of hiring a towing company.

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To ensure your car safely reaches the auto repair shop, it’s essential to have industry-specific knowledge. While finding a reliable service during roadside emergencies can be challenging, you can do some research in advance.

Things To Consider When Hiring A Towing Company In Edmonton

Provide detailed information to your service provider

If you have a roadside emergency and need professionals to recover your car and transport it before you call any companies, make sure you’re aware of your vehicle type, location, and condition. If your car is stuck in a ditch, you should say to your service provider so they bring in the right equipment and tow truck.

The towing company should have the right truck for the job.

There are many types of tow trucks, and they are used for varying jobs. For example, a flatbed tow truck is an excellent option for transporting sports or antique cars. Tilt deck, wheel-lift, and hook-and-chain tow trucks are also used to move damaged vehicles. It is helpful to have some understanding of how these trucks work. You don’t have to be worried about anything if you find a trusted tow truck company where operators understand what kind of truck or equipment will suit your situation.

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Experienced companies often have a variety of tow trucks to carry out easy and complex towing operations. Action Towing is one of the best towing companies in Edmonton, where we provide a comprehensive range of services, including roadside assistance. The safety of your vehicle is our top priority.

Don’t hire inexperienced companies that charge unreasonably high rates

Simple companies operate in almost every industry. Don’t let a fraudulent or unprofessional company handle your precious car, as this will only add to your worries. Don’t forget to ask about the estimated cost and payment methods they offer. Getting all the necessary information beforehand will save you trouble, time, and money.

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As an efficient, experienced, and affordable towing company in Edmonton, we provide prompt services in both standard and emergencies. Don’t forget to call Action Towing to recover or transport your vehicle in Edmonton. We also offer long-distance towing services. For more details, don’t hesitate to get in touch with us!

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These Are the Most Common Tax Filing Errors Made by small business owners (and the best way to avoid them)

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These Are the Most Common Tax Filing Errors Made by small business owners (and the best way to avoid them)

Making sure you avoid these tax filing Errors could help your company save time and cash in the long run.

A tax filing error that is not made correctly could result in an IRS review, which can be quite a hassle for small-business owners. Along with the loss of time and effort, trying to satisfy the requirements of the IRS and other errors can impact your company’s bottom line.

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While these mistakes in tax filing may appear to be entirely out of character for your employees or you, The tax filing process becomes more complex as your company grows.

Many common errors companies make regarding their tax returns can be prevented if you and your employees are aware of the regulations and ensure that you’re up-to-date with any IRS adjustments.

These Are the Most Common Tax Filing Errors Made by small business owners (and the best way to avoid them)

1. Inaccurate reporting

No matter if your mistake in reporting is unintentional or deliberate, knowingly or not reporting your earnings in the eyes of the IRS (both personal and in the capacity of an owner of a business) will result in being scrutinized. Virtual currency should be reported, as must any income from investments and non-employee wages.

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The IRS utilizes its computer systems and forms 1099 to reconcile the information reported to them and the information provided to the business owner. Therefore it is crucial to take the correct information. It is possible to note income to you in information returns, like the 1099-MISC form indicating the compensation of employees if you’re an independent contractor or the 1099-K form showing credit card information and some other transaction, regardless of the company’s type if you’ve had several dealings.

Suppose the tax forms are incorrect, and you cannot get the sender to rectify the errors. In that case, you must report the wrong amount by making the appropriate adjustment and attach a reason to your tax return to ensure you’re only taxed for the proper amount.

2. Meal expense deductions

It’s nothing major, and claiming all meal expenses while working with clients can be an issue. Client entertainment allowances have been changed, and hiding this could result in IRS involvement. Only 50 per cent of the meals you eat for business can be deducted. While treating your client to dinner to impress them or to pay for meals yourself on the road for business is an acceptable business expense, you can only deduct half the payment.

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3. Procrastination with tax preparation

One method for tax planning to be more straightforward is to ensure your documents are properly maintained. Making sure you record deductions and expenses is a must. You need to keep your records in order. It is essential to be active! You should use a digital accounting program to assist you and your employees keep track. The software should be able to fill in expenses using uploaded photos and save information in the cloud can prove extremely useful.

If you have access to an accountant, You shouldn’t just wait until tax time to decide what you need to do with the filing process and keeping records. If you work on tax planning using expert guidance and ensuring that your documents are kept and paperwork completed throughout the year, you can prevent some minor mistakes that can result in an audit. This can help you avoid an unexpectedly high tax bill you’re unprepared for. If you fail to meet the deadline for filing tax returns, the business will be penalized by the IRS monthly penalty of 5%, which will continue to grow until the tax return is submitted.

4. Disregarding the mileage records

The tax law permits entrepreneurs who claim mileage they use personal vehicles to conduct business. But, the deduction must be substantiated by reliable documents.

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Keeping an electronic log of your mileage or keeping a notebook in your vehicle to note the date and the mileage can be a way to prove any mileage-related claims. Mileage deductions are a widespread subject of confusion. Be sure you know the mileage rate you are allowed to deduct and any other exemptions apply to this rate. Knowing the maximum permitted mileage deduction you can claim for all vehicles is essential, so you don’t overdo the amount. This number could vary from year to the following year.

5. Estimated tax rates for low-balling

Many business owners put off or fear the quarterly payment in large cheques to IRS. The extensive checks eat away at a company’s cash flow and cannot be scheduled at the beginning of making budgets. However, underestimating estimated taxes could cause penalties (20 percent) if your tax bill is lower than you owe or pay late. It is best to be able to assess your tax estimates for the entire year and pay each quarter in time.

All the taxes your business must pay, such as self-employment tax and Medicare tax, must be meticulously and precisely totalized. If there is a mistake and the IRS believes this is false and you are liable to be penalized for fraud or face tax fraud charges.

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6. Don’t use the wrong retirement plan

Small-scale business owners can benefit from the retirement plan’s contributions to cut down on tax obligations. But, selecting the wrong technique can restrict the deductions you can make or force you to pay for donations from employees your business can’t pay for.

Assistance from a professional with your small business’s development and tax preparation will assist you in avoiding some costly errors. It would be best if you talked to an accountant to learn more about the other tax issues that can be costly for your company.

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Dragonfly Hyperscooter Relaunches After Beating Business, Covid Obstacles

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Dragonfly Hyperscooter Relaunches After Beating Business, Covid Obstacles

The Dragonfly Hyperscooter might well have been named The Phoenix. The first time it was introduced in 2019 by the London-based D-Fly Group, a host of issues, most notably the Covid-19 pandemic, slowed the launch. Today, the four-wheeled electric personal mobility vehicle powered by batteries is back, albeit smaller and more affordable, yet capable of navigating more challenging terrain.

Dragonfly Hyperscooter Relaunches After Beating Business, Covid Obstacles

Jez Williman, founder and CEO of D-Fly Group.D-FLY GROUP

“One aspect of Covid that I was struck by was the extent to which people from lower income brackets became dependent on shared scooters, and as their popularity grew and the bike industry exploded,” D-Fly founder and CEO Jez Williman told Forbes.com. “We would like to create Dragonfly, the top mass-market product, but not only for those with large pockets. We want to make it accessible to everyone.”

What is it that makes the Dragonfly the definition of a “hyperscooter?” A key characteristic is a design based on Formula 1, dubbed “Full-Tilt Technology”, with the three-dimensional tilt and twist controls mounted on the central pillar that engages all four wheels simultaneously in sync with the movement of the user.

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It is equipped with what they claim to be the first dual wishbone suspension. It’s fully adjustable hydraulic dampened suspension with sprung across all 4 wheels. a flexible deck suspension, and complete axle articulation.

The Dragonfly’s four-wheel, comprehensive carbon fiber platform has been made to provide safety and stability.

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Two 500-watt motors power it. They provide approximately 37 miles of range based on the weight of the rider and wind conditions, with an average speed of 25 miles/hour. It even has a reverse gear, which is unusual for the scooter.

Dragonfly Hyperscooter Relaunches After Beating Business, Covid Obstacles

There are two models available: the DF for smooth and smooth streets and the DFX to go off-road or in other challenging conditions. It has wider fenders as well as hand guards.

Prices range from $1,850 to $2,200, depending upon the type of model.

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This is a significant discount from the price range of $4,999 to $6,999 for the first Dragonfly launched in the year.

The delay of three years and the resulting design and price reduction all happened as the Covid-19 pandemic swept the world, as per Williman, who was hospitalized for the disease.

“Everyone took a break and went home. We weren’t able to access our supplier base to any extent. It’s clear that the bicycle industry moved to Mars regarding needs and many vendors shut their doors to every opportunity that came along,” he explained.

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In addition, Williman said the multi-billion dollar company D-Fly was relying on to be its primary manufacturing partner when it suddenly pulled out of the deal.

“They had a conversation one day and said, hey, it’s going to stop doing mobility anymore. But thank you. I told them, “Are you guys? what’s the matter?” Williman recalled.

D-Fly eventually found a new manufacturer, set up a new design team in North America and developed a global team. However, the challenges of launching the Dragonfly were not over.

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The most important is the more expensive tools to construct the initial concept, which led the firm to “make certain design concessions to bring the cost of go-to-market and the cost to go to market lower,” said Williman.

As time passed, the company realized that the market for electric scooters was shifting, which led to an even more thorough re-thinking of the Dragonfly.

“We were looking for a compact and lightweight vehicle. Then we realized that one of the elements, or the main pillars we were looking to incorporate, was the ability to go on-road and off-road too and add a sporting element in the automobile,” Williman explained.

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The result was to change the wheel’s size to more enormous 10-inches than the original six inches to provide the Dragonfly off-road ability. Doing so, however, meant additional design changes.

“By expanding the wheel size, we needed to increase the wheel’s basic structure, and the drive train also had to expand in some way,” Williman explained.

Certain products, such as integrated screens and speakers, were reduced but not slashed in price. Williman refers to the five-inch screen, which he says is as powerful as the one you would see on an expensive Japanese motorbike.

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There are other options, including cameras on board for recording trips.

Orders for the new Dragonfly version are now available. Dragonflies can be placed through Indiegogo. Indiegogo platform.

People who made orders in the year 2019 were refunded in full, according to Williman. Any customer who asked for a refund received one; however, he said that most customers plan to buy the latest version. At some point, the elements part of Dragonfly will be made available as upgrades.

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The company plans to ramp into sales of 60,000 to 100,000 units in 3 years, Williman said.

It’s quite a comeback to D-Fly and its creator, having survived Covid and its aftermath.

Williman is thankful for the opportunity to bring Dragonfly up and running again, but this time with an affordable yet enjoyable, efficient, and environmentally friendly method for people to get around by declaring, “We’re always concerned about protecting the earth. We’re committed to reducing the use of fossil fuels. We’re working to do this with a sense of purpose.”

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