IMF asks govt to reopen CPEC deals

The International Monetary Fund (IMF) has asked Pakistan’s government to renegotiate the China-Pakistan Economic Corridor (CPEC) energy deals before making payments of around Rs300 billion to the Chinese power plants, putting Islamabad in a tight spot. The global lender has asked the government to treat the Chinese CPEC power plants at par with the power plants established under the 1994…

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PAC seeks details of power purchase deals with IPPs by ex-govts


The Public Accounts Committee (PAC) on Wednesday sought power purchase agreements with Independent Power Producers (IPPs) signed by previous governments. Noor Alam Khan chaired the meeting of the committee which examined the Audit Report of the Cabinet Division for the year, 2019-20. The chairman committee said the tariff on electricity came down when demand increased but in Pakistan, the position…

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Local oil, gas output drops in July-May


The production of oil and gas dropped 2.5 percent and 3.7 percent respectively in the first eleven months of this fiscal year, The News learnt on Wednesday, mainly owing to eroding reserves and suspension of pumping at some fields for yearly overhaul According to the data obtained by The News, indigenous crude oil output fell to average 73,668 barrels per…

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PAC seeks Nepra report on IPP agreements

The Public Accounts Committee (PAC) on Wednesday sought a report from the National Electric Power Regulatory Authority (Nepra) on agreements signed with independent power producers (IPPs). At a meeting held at the Parliament House, the PAC discussed audit paras related to authorities working under the administrative control of Cabinet Division. Briefing the committee, Nepra chairman Tauseef Farooqi said the country…

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