Author: Admin

ISLAMABAD: The second phase of Pakistan’s auction of outdated state-owned thermal power plants delivered disappointing results on Monday, with only one bid submitted for a single plant and no interest shown in two others. The 880-megawatt Jamshoro Thermal Power Station (Genco-I) attracted the lone technical bid, submitted by Siddiqsons, against a reserve price of Rs9.97 billion. In contrast, no bids were received for the Muzaffargarh Thermal Power Station (1,350 MW) and the Faisalabad Steam Power Station (132 MW), both part of Genco-III. The total reserve price for the three plants…

ISLAMABAD/WASHINGTON: Pakistan and the International Monetary Fund (IMF) commenced high-level policy discussions in Islamabad on Monday to finalise the federal budget for fiscal year 2025-26. These crucial talks, scheduled to continue until May 23, aim to ensure the upcoming budget aligns with fiscal and reform targets under the IMF’s Extended Fund Facility (EFF). An IMF delegation reached Islamabad for in-person negotiations following technical talks held virtually last week amid rising regional tensions. The discussions are centred on revenue targets, expenditure controls, and budget projections, as Pakistan faces significant fiscal and…

KARACHI: Pakistan’s hydropower sector faces a serious threat following India’s suspension of the Indus Waters Treaty (IWT) — a landmark 1960 water-sharing agreement brokered by the World Bank. The decision, announced on April 23, came just a day after a deadly shooting in Pahalgam, Kashmir, and marked the first time the treaty has been paused in over six decades. The move has triggered renewed tensions between the two nuclear-armed neighbors, culminating in four days of cross-border fighting before a U.S.-brokered ceasefire took hold. Under the IWT, Pakistan relies on three…

KARACHI: K-Electric (KE) has been praised for its performance turnaround and customer-centric approach, setting a benchmark for other power distribution companies (DISCOs) in Pakistan. The recognition came during a visit by Amir Ahmed Shaikh, Member (Incharge) of the Wafaqi Mohtasib (Ombudsman)’s Secretariat, Regional Office Karachi. During his visit to KE’s head office and the Mega Centre at Tipu Sultan IBC, Shaikh commended KE’s 95% compliance rate in addressing customer complaints. “While other DISCOs are making efforts, KE stands out,” he remarked, emphasizing the company’s commitment to continuous improvement and customer…