Day: June 23, 2021

The Central Power Purchasing Agency-Guaranteed (CPPA-G) is giving final touches to rules for the establishment of a wholesale electricity market and proposed legislative changes in the current electricity mechanism, scheduled to be effective from April, 2022, well-informed sources told Business Recorder. The Economic Coordination Committee (ECC) of the Cabinet in its decision of April 30, 2015 mandated CPPA-G to prepare a comprehensive Competitive Trading Bilateral Contract Market (CTBCM) design and plan for transition of the power market. However, CPPA-G took five years to finalise a detailed design as the Power…

Read More

The United Kingdom has announced support to capacity building initiatives for the brick kiln sector in Pakistan to reduce emission for improving air quality and reducing smog. These views were expressed by Christian Turner, British High Commissioner to Pakistan in a press statement issued in connection with launching of UK support to the brick kiln sector to reduce emission. “The UK support will start from Punjab province where over 11,000 brick kilns are concentrated in agricultural heartland and by improving air quality, reducing smog, cleaner brick production processes will have…

Read More

The International Monetary Fund (IMF) has postponed sixth review of its $6 billion bailout programme for Pakistan. The review talks did not make headway and therefore now the assessment will take place in September. That might not appear strange at a first glance. Pakistan has already had its previous reviews done together in March because of the exceptional situation created by the COVID-19 pandemic. For keen observers, however, this is a setback. The message that it sends out to other global lenders is not good — Pakistan has not fully…

Read More

Despite declining purchasing power and fall in large scale manufacturing (LSM) output, Pakistan prosperity index registered an increase in March on the back of improvements in trade volume and private sector lending, said a public policy think tank. Policy Research Institute of Market Economy (PRIME), in a monthly review of the country’s macroeconomy, said Pakistan prosperity index (PPI) increased in March 2021, reaching an all-time high of 128.1 after dipping in February 2021. “This figure is indicative of increased economic prosperity largely driven by improved business confidence,” PRIME said. “The…

Read More

Federal Minister for Finance and Revenue Shaukt Tarin, Tuesday, said that energy sector was indeed very crucial to keep the cycle of economy moving with ever growing momentum. Oil refineries in Pakistan have been pillar of energy security of the country and now the government wants the domestic oil refineries to upgrade themselves at par with international standards. Chairing a high level meeting here to review progress on Draft Pakistan Oil Refining Policy 2021, Finance Minister Tarin said that the Prime Minister was very keen about progress in all sectors…

Read More