Author: Admin

WASHINGTON: The International Monetary Fund (IMF) on Monday approved a fresh tranche of about $1.2 billion for Pakistan under its Extended Fund Facility (EFF) and the climate-focused Resilience and Sustainability Facility (RSF), following a meeting of its Executive Board in Washington. In its announcement, the Board noted that Pakistan’s “strong programme implementation”, despite the widespread damage caused by recent floods, had helped maintain economic stability and improve external financing conditions. It emphasised that Pakistan’s policy priorities remain centred on safeguarding macroeconomic stability, strengthening public finances, boosting competitiveness and productivity, deepening…

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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has imposed penalties of Rs25 million each on the Central Power Purchasing Agency (CPPA) and the National Grid Company (NGC) for failing to ensure the availability and functionality of blackstart facilities at power stations, a key requirement under power purchase agreements and national regulations. The action stems from the January 2021 nationwide blackout, which took nearly 20 hours to restore due to the non-functioning or absence of blackstart systems — essential for quickly re-energising the grid after a major breakdown. These facilities…

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ISLAMABAD: Prime Minister Shehbaz Sharif on Monday approved major power sector initiatives for Gilgit-Baltistan and Gwadar, including a landmark 100MW solar project in GB to ensure uninterrupted, affordable and clean energy for the region. Chairing a meeting on the power situation in both areas, the prime minister ordered immediate implementation of a comprehensive plan to permanently resolve electricity issues in Gwadar Port City. He directed all relevant institutions to work in full coordination to ensure reliable and cost-effective power supply. Issuing directives for the swift commencement of the 100MW solar…

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