Author: Admin

Islamabad: A sub-committee of the National Assembly Standing Committee on Power has decided to register FIRs against residents of Hazara Electric Supply Company (HAZECO) allegedly holding company property worth Rs700 million in their homes, officials said on Wednesday. The sub-committee, including Babar Nawaz Khan, Shaikh Aftab Ahmed, Syed Waseem Hussain, and Syed Nosheen Iftikhar, reviewed HAZECO affairs and discussed the alleged retention of company materials such as transformers, wires, and poles. Convener Babar Nawaz Khan stated that a comprehensive report had been received, along with copies of identity cards of…

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Karachi/Islamabad: Pakistan is well-prepared for the upcoming review by the International Monetary Fund (IMF) that could unlock a $1.2 billion disbursement, Finance Minister Muhammad Aurangzeb said on Wednesday as an IMF mission began discussions in Karachi. The visiting staff mission will undertake the third review under the Extended Fund Facility (EFF) and the second review under the Resilience and Sustainability Facility (RSF), according to official statements issued by the IMF and the Ministry of Finance. The IMF delegation, led by Iva Petrova, has arrived in Pakistan and will remain in…

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Islamabad: The World Bank has called for stronger coordination between federal and provincial governments to ensure effective implementation of Pakistan’s reform programme under the Country Partnership Framework (CPF), with a focus on climate resilience, population management and sectoral sustainability. The emphasis came during a meeting between World Bank Country Director for Pakistan Bolormaa Amgaabazar and Federal Minister for Finance and Revenue Muhammad Aurangzeb at the Finance Division on Wednesday, according to an official statement. Discussions centred on enhancing cooperation under the CPF and advancing key government reform priorities. The agenda…

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Islamabad: Pakistan’s power distribution system is incurring annual losses exceeding Rs1 trillion due to high transmission and distribution (T&D) losses and poor bill recoveries, according to the latest Performance Evaluation Report of Distribution Companies for FY2024-25 issued by the National Electric Power Regulatory Authority. The report highlights persistent structural and operational weaknesses within the power sector, including elevated T&D losses, weak billing and recovery performance, frequent load-shedding, delays in new connections, and serious safety lapses. Nepra noted that ex-Wapda distribution companies (Discos) collectively recorded T&D losses of 17.55 percent and…

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Islamabad: Federal Minister for Investment Qaiser Ahmed Sheikh has underscored that regulatory clarity, predictability and strong institutional coordination are essential to attract both domestic and foreign investment into Pakistan. Speaking at the “Pakistan Governance Forum” on Wednesday, the minister chaired a high-level session titled “From Subsidies to Strategy: Delivering Competitiveness Through Reform.” He emphasised that structural reforms are vital for moving beyond short-term economic stabilisation toward long-term, sustainable growth. The minister noted that Pakistan is transitioning from a subsidy-driven economic model to a strategy-led, competitiveness-based framework focused on export-led growth…

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