Power sector: Pakistan’s average surplus capacity to cross 4,000MW

LAHORE: The annual average capacity surplus of Pakistan’s power sector is likely to increase 15% against projected demand because of over-commitment of power generation projects. The surplus will translate into annual average of more than 4,000 megawatts, according to a report launched by the Energy Institute of Lahore University of Management Sciences (LUMS). The report, titled “Pakistan’s Electricity Outlook 2020-25”, critically…

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IMF to hold talks from February 3 under $6 billion EFF

Pakistan and International Monetary Fund (IMF) will hold talks starting from February 3 for the second review under the US$6 billion Extended Fund Facility (EFF). This was confirmed by IMF Resident Representative Teresa Daban Sanchez here on Thursday. She said, “The IMF and Pakistani teams are already conducting preparatory work on the issues pertaining to the second review and the…

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Circular debt: Competitive bidding to be arranged for raising Rs200 bn from banks

ISLAMABAD: The Power Division will arrange open competitive bidding to raise Rs200 billion under Sukuk-II from banks or consortium of banks at lowest interest rate and the amount will be utilised for partial cash settlement of the circular debt that has risen to Rs1.7 trillion in toto, which is 4 percent of GDP of Pakistan. “Yes, we are going to…

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