Month: February 2024

Pakistan’s Debt Burden Hits Record High of Rs81.2 Trillion, Posing Challenges for New Government

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state-bank

Pakistan is grappling with a historic debt burden, reaching a staggering Rs81.2 trillion, which surged by over 27% in the past year alone. The State Bank of Pakistan‘s latest bulletin reveals the alarming increase, with debt and liabilities climbing by another Rs17.4 trillion by the end of December, significantly outpacing previous rates of growth. The unprecedented level of debt, including Rs4.6 trillion in liabilities, poses urgent challenges for the newly elected government. With an average daily accumulation of Rs48 billion since December 2022, managing this escalating debt has become a…

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Dawood Lawrencepur to sell entire stake in Tenaga Generasi to Artistic Milliners

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wind-power

The Board of Directors (BoD) of Dawood Lawrencepur Limited (DLL) has entered into a Share Purchase Agreement (SPA) with Artistic Milliners (Pvt) Ltd for the sale of its entire shareholding in Tenaga Generasi Limited (TGL). The listed company shared the development in its notice to the Pakistan Stock Exchange (PSX) on Monday. “The BoD of DLL has approved entering into SPA with Artistic Milliners (Pvt) Ltd for the sale of the entire shareholding of the company in TGL, comprising of 227,027,613 shares i.e. 75% of the outstanding paid-up capital of…

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The SIFC has a new plan to tackle circular debt. Will it work? 

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Special-Investment

The Council is looking to woo the IMF with a unique new solution they are proposing Since its inception, the Special Investment Facilitation Council (SIFC) has looked to expand itself and take over the reins of the economic underpinnings of the country with limited success. The military and bureaucracy based chimera has looked to stimulate the economy while looking to bring in investment from foreign countries. And now the council is trying to take on one of Pakistan’s most persistent issues: circular debt.  As talks begin between the IMF and…

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K-Electric and Hub Power Company Sign Agreement to Explore Thar Coal Power Conversion

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circular-debt-K-electric-ceo

In a significant move towards sustainable energy solutions, K-Electric (KE) and Hub Power Company Ltd have recently inked a memorandum of understanding (MoU) to delve into the potential for adopting affordable electricity through the conversion of the Hub plant to locally sourced Thar coal. Aligned with KE’s strategic vision to integrate power generation from domestic resources into its energy portfolio, this collaboration signifies a pivotal step towards leveraging Thar coal-based projects for power generation. The Hub power station, boasting a capacity of 1,292MW with four units of 323MW each, has…

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Activists Claim 49,600 Trees Felled for Ballots

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Activists-Claim

In a contentious debate surrounding the environmental impact of recent general elections in Pakistan, activists advocating for environmental preservation have alleged that a staggering 49,600 trees were cut down to produce paper for ballots and related documents. However, experts have rebuffed these claims, citing the country’s reliance on paper imports and recycling practices for electoral materials. Contrary to assertions of extensive tree felling, experts clarify that Pakistan primarily imports paper, as the nation lacks the infrastructure for large-scale paper production. Dr. Usman Ali, an environmental expert, underscores the necessity of…

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