The Senate Standing Committee on Maritime Affairs was Friday apprised that 91 percent profit from Gwadar Port operations went to Chinese company whereas Pakistan’s share was only 9 percent, however maintenance/dredging of the port was the responsibility of Pakistan.
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Power Division, sources say, has sought an amount of Rs700bn from Finance Division in federal budget 2023-24 to clear overdue payments of IPPs, CPEC IPPs and equity injection. Pakistan is likely to assure the visiting Chinese Foreign Minister Qin Gang that outstanding payments
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In view of Sindh Chief Minister Engr. Syed Murad Ali Shah’s contributions to the cause of Engineering as a whole and specific to the Infrastructure Development Projects and also his services to the public at large in the province.
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The Ministry of Energy has demanded Rs1.54 trillion in power subsidies for the next fiscal year, a colossal amount that is 70% more than this year’s revised budget, aimed at reducing circular debt to a level agreed with the International Monetary Fund (IMF).
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SECMC owes $60 million in payments to CMEC, a vendor of SECMC for coal mining in Thar Block II. SECMC has been unable to clear the dues since May 2022 due to LC restrictions. Even a letter from Sindh’s Power Minister Imtiaz Sheikh has failed to wake the policymakers on this critical matter, sources familiar with the matter revealed. Sources said that credit letter limitations have ended up being unfavorable for the economy. Policymakers can’t arrange among fundamental and extravagance imports, resultantly taking cost for the main requirements including power…
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