Month: February 2022

Finance Minister Shaukat Tarin on Monday reassured K-Electric’s investors of addressing the bottlenecks in the way of sale of the power utility’s majority shares to Shanghai Electric Power. A delegation comprising K-Electric’s board of directors representing Saudi Arabia’s Aljomaih Investments and other Middle Eastern firms met the finance minister. According to sources, the delegation gave a briefing on the company’s contribution to Pakistan. Since its privatisation, K-Electric has invested Rs400 billion in the country. K-Electric Chairman Shan Ashary stated that the sale of majority stake of the company had been…

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The purpose of the IMF loan programme is to promote macroeconomic stability in Pakistan and fiscal and monetary policies should support the same vision, remarked International Monetary Fund (IMF) Country Representative for Pakistan Esther Perez Ruiz. Speaking at the Lahore Chamber of Commerce and Industry (LCCI) on Tuesday, she underlined that the aim of the IMF programme was to bring a set of policies that could promote sustainable and inclusive policy growth. “Pakistan’s tax-to-GDP (gross domestic product) ratio is very low,” she said, adding that the objective of eliminating sales…

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The United States Mission to Pakistan has announced the expansion of interview waiver eligibility for Pakistani citizens renewing B1/B2 tourism and business visas at the U.S. Embassy in Islamabad and the U.S. Consulate General in Karachi. This procedural change will improve customer service and enable more efficient processing for the renewal of tourism and business visas for qualified and eligible Pakistani citizens. Potentially eligible applicants with scheduled appointments were contacted directly and informed of the option to submit their applications through this new procedure. Note that as required by U.S.…

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Talking to journalists on a visit to the project site in Mansehra, the officials of the Sukhi Kinari hydropower project said the project — being built on a BOOT [build, own, operate, and transfer] basis — would add 884-megawatt electricity to the national grid. According to the officials, 93 percent of work on tunnels, 80 percent on penstock, and 90 percent on powerhouse has so far been completed. Highlighting the distinguishing features and achievements, officials told the media persons that a Pressure Shaft System had been installed 745 meters deep,…

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