Pakistan, IMF Begin High-Level Budget Talks Ahead of FY26

New-IMF

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…

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Pakistan’s Water and Energy Security in Jeopardy as India Halts Indus Waters Treaty

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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…

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K-Electric Recognized as Model Utility for Customer Service and Digital Transformation

K-Electric

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…

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Fuel, Electricity, and Gas Prices Set to Rise as Pakistan Aligns with IMF Reforms

New-IMF

KARACHI: Pakistan is set to increase fuel, electricity, and gas prices from July 1, 2025, as part of a broader package of economic reforms agreed with the International Monetary Fund (IMF) ahead of the upcoming federal budget, officials confirmed. The reform measures, aimed at reducing the fiscal deficit and curbing the ballooning circular debt in the energy sector, include new levies and tariff adjustments. These steps are expected to significantly impact household and industrial consumers across the country. Key changes include the introduction of a Rs5 per litre carbon levy…

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Solarisation of Tube Wells in Balochistan Delayed Amid Funding and Security Challenges

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ISLAMABAD: The ambitious multi-billion-rupee initiative to solarise agricultural tube wells in Balochistan has hit a snag due to delayed fund utilisation and deteriorating security conditions in the province, according to updates presented at a recent Economic Coordination Committee (ECC) meeting. The ECC was informed that although the project was approved in July 2024, budgetary allocations could not be made in time, necessitating a technical supplementary grant. Additionally, Quetta Electric Supply Company (Qesco) has been facing hurdles in retrieving materials due to security concerns, as clearance from provincial authorities is required…

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