Author: Admin

Pakistan Refuses Rs220bn Interest Payment to Chinese IPPs, Seeks Waiver from Beijing

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ISLAMABAD: Pakistan has informed the International Monetary Fund (IMF) that it will not pay Rs220 billion in interest to Chinese independent power producers (IPPs) for delayed electricity payments and will instead seek a waiver from Beijing. The government only recognizes Rs250 billion as the principal amount due, rejecting the surcharge as part of the Rs1.7 trillion circular debt. During ongoing IMF talks for the release of $1.2 billion in loan tranches, the Power Division briefed the Fund that despite improved performance last year, the power sector’s circular debt will rise…

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APTMA Slams Unrealistic Power Expansion Plan, Warns of Higher Tariffs and Stranded Assets

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ISLAMABAD: The All Pakistan Textile Mills Association (APTMA), the country’s largest export body, has strongly criticized the government’s plan to expand power generation capacity by 50 percent to 64,000 megawatts under the Indicative Generation Capacity Expansion Plan (IGCEP 2025-35), calling it “unrealistic” and financially unsustainable. In detailed objections submitted to the National Electric Power Regulatory Authority (Nepra), APTMA said the proposed plan would require nearly $50 billion in investments and lock Pakistan into a cycle of “high-cost power.” The association argued that the IGCEP relied on a flawed demand forecasting…

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CPEC Enters Phase-II: Pakistan, China Unveil Decade-Long Roadmap as JCC Concludes in Beijing

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Payment issue with Chinese IPPs remains unresolved; focus shifts to industrialisation, ML-1, and Gwadar development ISLAMABAD: The 14th Joint Cooperation Committee (JCC) meeting of the China-Pakistan Economic Corridor (CPEC) concluded in Beijing on Friday, ushering in Phase-II of the landmark initiative with a comprehensive roadmap for the next decade. However, the long-standing issue of capacity payments to Chinese Independent Power Producers (IPPs) remained unresolved, as Islamabad sought an extension in repayment timelines. Federal Minister for Planning Ahsan Iqbal, in his closing remarks, hailed CPEC Phase-II as a “corridor of industrialisation,…

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China’s Solar Installations Sink to Near Three-Year Low as Exports Surge

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China’s solar panel installations slowed sharply in August, falling to their lowest level in nearly three years as producers turned to overseas markets amid weak domestic demand, Bloomberg reported. According to the National Energy Administration (NEA), only 7.36 gigawatts (GW) of new solar capacity was added in August, down one-third from 11.04 GW in July and the lowest since November 2022. The decline extends a downward trend that began after installations peaked at a record 93 GW in May, when buyers rushed to complete projects ahead of policy changes. In…

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PAC Panel Warns PSO to Clear Rs150m Dues to SWO or Face FIA/NAB Action

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psoo1

ISLAMABAD: The management of Pakistan State Oil (PSO) has been given four weeks to settle a Rs150 million liability with the Staff Welfare Organization (SWO), failing which the matter will be referred to the Federal Investigation Agency (FIA) or the National Accountability Bureau (NAB) for recovery. The ultimatum came on Friday during a meeting of the Public Accounts Committee’s (PAC) sub-committee, chaired by Tariq Fazal Chaudhry, which was reviewing audit reports of the Establishment Division for fiscal years 2003-04 and 2008-09. The dispute revolves around a 14,256 sq. ft. SWO-owned…

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