Month: August 2023

Neelum Jhelum Hydropower Project Resumes Electricity Generation Federal Minister for Water Resources inaugurates electricity resumption

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electricity-generation

August 9, 2023: Subsequent to completion of restoration works in the tail race tunnel, Neelum Jhelum Hydropower Project has resumed electricity generation. Federal Minister for Water Resources Syed Khursheed Ahmed Shah visited Neelum Jhelum Hydropower Project and resumed the electricity generation by pressing the button. He also unveiled a plaque to mark resumption of electricity generation from the project. At present, Neelum Jhelum Hydropower Project is providing 969 MW to the National Grid. The Federal Minister had a detailed visit of the Control Room and the Power House.  Federal Secretary…

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Conference on climate emergency and urban transportation

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AEEA-2023

World leaders gathering in Dubai for COP-28 this year to fully support Pakistan due to its serious climate risk: UAE Consul General Karachi: The concerned world community assembling at the United Nations Climate Change Conference-2023 (COP-28) to be held in Dubai later this year is sure to provide special financial assistance to Pakistan keeping in view its serious vulnerability due to extreme weather conditions. The assurance to this effect was given by the Consul General of the UAE, Bakheet Ateeq Al Remeithi while speaking as the chief guest at the…

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Updated CDMP as per SBA yet to be approved

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CDMP-SBA

ISLAMABAD: The pledge for the Cabinet to approve an updated Circular Debt Management Plan (CDMP) by end-July 2023 as stipulated in the Memorandum of Economic and Financial Policies section of the Stand-by Arrangement (SBA) documents uploaded on the International Monetary Fund website on 12 July 2023 has yet to be met. The updated CDMP envisaged clearance of circular debt stock payments of Rs 392 billion through PHPL principal settlement (Rs 82 billion), payments to GPPs and CPEC IPPs (Rs 310 billion) and a Rs 976 billion (0.9 percent of GDP)…

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Tumultuous NA term ends today

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shehbaz-shareef

Prime Minister Shehbaz Sharif on Tuesday confirmed that the term of the National Assembly would be cut short prematurely on August 9 (today), paving the way for a caretaker setup to take up the reins after consultations with the opposition leader. PM Shehbaz Sharif will formally recommend to President Arif Alvi the dissolution of the 15th National Assembly once the government’s term is completed. The president will have 48 hours to comply with the recommendation; if he fails to do so, the legislature will automatically stand dissolved. During a ceremony…

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ECC okays $3b loan guarantee for N-plant

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dollars

Pakistan on Tuesday approved issuing $3 billion worth sovereign guarantees against a Chinese loan for a nuclear power plant and also stamped an operator-favoured State Support Agreement for the outsourcing of the Islamabad International Airport. The Economic Coordination Committee (ECC) of the outgoing cabinet took these decisions but left a decision for the import of at least one million metric tons of wheat for the caretaker government. Finance Minister Ishaq Dar, who may have some role in the interim setup, chaired the ECC meeting. After the meeting, the Ministry of…

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