Author: Admin

Reko Diq’s $7bn Financing Marks Major Boost in Pakistan–US Economic Cooperation

Admin
Reko-Diq

KARACHI: Finance Minister Muhammad Aurangzeb has said the United States is firmly re-establishing itself as a key economic partner for Pakistan, underscored by the $7 billion financial close of the Reko Diq copper and gold project—backed by the International Finance Corporation and the US EXIM Bank. Speaking at a panel discussion in Riyadh during the Global Development Finance Conference – Momentum 2025, Aurangzeb said economic engagement with Washington is expanding across minerals, mining, and next-generation technologies including AI, blockchain, and digital infrastructure. The session, “Climate Adaptation and Resilience: How do…

Read More

IMF Applauds Pakistan’s Energy Sector Progress, Urges Deeper Structural Reforms

Admin
New-IMF

ISLAMABAD: The International Monetary Fund (IMF) has praised Pakistan for making tangible progress in stabilising its troubled energy sector through tariff rationalisation and targeted structural reforms, while cautioning that deeper, long-term changes are essential to secure lasting sectoral viability. In its latest review under the Extended Fund Facility (EFF) and Resilience and Sustainability Facility (RSF), the IMF said the government had “reinforced energy sector viability through prompt tariff rationalization and structural reforms,” adding that circular debt flow targets in the power sector had been successfully met. The lender highlighted that…

Read More

Business Leaders Cite Soaring Energy Costs, High Interest Rates as Major Threats to Economic Recovery

Admin
energy-tariffs

KARACHI: Pakistan’s top business leaders warned on Thursday that the country’s fragile economic recovery is being undermined by record-high energy tariffs and an elevated policy rate that continues to choke industrial activity. Speaking at a press conference at the Federation House, FPCCI President Atif Ikram said Pakistan stands “at a decisive economic turning point” and must now move decisively toward stability. He reiterated that crippling electricity prices and an unnecessarily high interest rate have become the biggest barriers to competitiveness. “Electricity tariffs in Pakistan are among the highest in the…

Read More

Cabinet Ratifies Diversion of 45 LNG Cargoes Amid Declining Gas Demand

Admin
China-LNG

ISLAMABAD: The federal cabinet has endorsed a plan to divert 45 liquefied natural gas (LNG) cargoes after a persistent decline in domestic gas consumption left Pakistan with surplus imported stock. The Economic Coordination Committee (ECC) had earlier approved the diversion, and its decision was formally presented to the cabinet, which ratified it in a recent meeting. According to sources, summaries titled “Update on Negotiation with State of Qatar for Mitigation of Surplus LNG” and “Operation of Two SNGPL-Based Urea Manufacturing Plants (Fatima Fertiliser and Agritech)” were placed before the cabinet…

Read More

Nepra Urges End to Costly Power Burdens to Boost Industrial Competitiveness

Admin
Nepra-Price

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has called for the removal of several heavy cost burdens embedded in consumer electricity tariffs—including high technical losses, industrial taxes and surcharges, and charges linked to partial plant operations—to revive industrial output and restore the competitiveness of Pakistani products. In a detailed note to the government, issued alongside recent tariff determinations, Nepra’s Member Technical, Rafique A. Shaikh, warned that the persistent underutilisation of thermal power plants is driving up the capacity purchase price (CPP). He stressed the need to assess whether this…

Read More