Year: 2026

KARACHI: The State Bank of Pakistan on Wednesday confirmed the receipt of approximately $1.3 billion from the International Monetary Fund under Pakistan’s Extended Fund Facility (EFF) and Resilience and Sustainability Facility (RSF) programmes. In a statement, the central bank said the inflow would be reflected in the country’s foreign exchange reserves for the week ending May 15, 2026. Last week, the IMF Executive Board approved Pakistan’s third review under the 37-month EFF arrangement and the second review under the RSF programme during a meeting held in Washington, DC on May…

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ISLAMABAD: A parliamentary committee on Tuesday directed the National Electric Power Regulatory Authority (Nepra) to conduct a comprehensive investigation into the performance of Independent Power Producers (IPPs), including scrutiny of capacity payments, energy payments, and extensions granted to power projects beyond their original contractual terms. The Senate Standing Committee on Cabinet Secretariat, chaired by Senator Saleem Mandviwalla, also instructed Nepra to submit a detailed comparative report on the matter amid growing public concern over soaring electricity prices and the financial burden on consumers. During the meeting, lawmakers raised serious concerns…

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ISLAMABAD: The federal government and Karachi-based consumer groups on Tuesday strongly opposed K-Electric’s claims of nearly Rs60 billion under End-of-Term (EoT) adjustments for the Multi-Year Tariff (MYT) control period 2017-23 during a public hearing held by the National Electric Power Regulatory Authority (Nepra). At the conclusion of the hearing, Nepra stated that K-Electric’s petition for EoT adjustments falls within the framework approved under the MYT determination for FY2017-23 and the subsequent mid-term review mechanism. However, the regulator stopped short of issuing a final verdict on the utility’s claims. According to…

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ISLAMABAD: Pakistan recorded its lowest fiscal deficit in nearly three decades during the first nine months of the current fiscal year, driven by massive petroleum levy collections, strong provincial cash surpluses, and a sharp reduction in interest payments, according to official fiscal operations data released by the Ministry of Finance. The fiscal deficit stood at just Rs856 billion, equivalent to 0.7 percent of GDP, during July-March FY2025-26, compared to Rs2.97 trillion or 2.6 percent of GDP during the same period last year — reflecting an impressive 71 percent improvement. The…

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SUKKUR/KHAIRPUR MIRS: Senior Minister for Information, Transport and Mass Transit Sharjeel Inam Memon inaugurated two new routes of the Peoples Bus Service in Khairpur Mirs, calling it a historic and joyous occasion for the district’s residents. Speaking at the ceremony, Memon said the service was launched under the vision of PPP Chairman Bilawal Bhutto Zardari, President Asif Ali Zardari, Faryal Talpur, and Sindh Chief Minister to provide affordable, comfortable, and reliable transport to the people of Khairpur. He highlighted that the PPP has delivered record development and public welfare projects…

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