Category: Highlights

Govt Imposes Strict Austerity Measures: Ban on Vehicle Purchases, Overseas Medical Treatment

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Vehicle-Purchases

ISLAMABAD – In a significant move aimed at curbing public expenditure, the federal government has imposed a comprehensive ban on specific spending, including the purchase of new vehicles and state-funded medical treatment abroad. This follows a Finance Division notification issued this week, as the government grapples with economic pressures and criticism over its fiscal policies. The austerity measures are part of the government’s broader strategy to secure a $7 billion bailout package from the International Monetary Fund (IMF) while addressing concerns about unchecked public sector expenditures. Recent actions have included…

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NA Informed of Rs296 Billion Net Hydel Profit Payments to Provinces Over 10 Years

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Bhasha-Dam

ISLAMABAD: The National Assembly was informed on Thursday that a total of Rs296 billion has been paid to Khyber-Pakhtunkhwa, Punjab, and Azad Jammu and Kashmir (AJK) in net hydel profit over the last decade. Responding during the question hour, Minister for Water Resources Musadik Malik detailed that Rs216 billion had been paid to Khyber-Pakhtunkhwa, Rs73.45 billion to Punjab, and Rs6.4 billion to AJK. He also noted that outstanding balances amount to Rs36 billion for KP, Rs72 billion for Punjab, and Rs379 million for AJK as of March 2024. Malik explained…

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China Resists Renegotiation of Capacity Tariff for IPPs Amid Pakistan’s $1 Billion Payment Delay

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China-Pakistan

KARACHI: China has shown reluctance to renegotiate the capacity tariff agreements for Chinese Independent Power Producers (IPPs) operating under the China-Pakistan Economic Corridor (CPEC), citing delayed payments from Pakistan. Speaking at an event hosted by the All Pakistan Newspapers Society (APNS), Chinese Ambassador to Pakistan Jiang Zaidong emphasized that the capacity tariff was part of a universal arrangement made by the Pakistani government to support its power sector. Ambassador Jiang revealed that Pakistan has delayed payments amounting to $1 billion to Chinese IPPs, despite Chinese investments of $5.5 billion in…

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Govt Orders FIRs Against Grid Station Takeovers in KP

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Power genration

ISLAMABAD: After months of cautious restraint, the federal government has decided to initiate legal action against the forced takeovers of grid stations in Khyber Pakhtunkhwa (KP), involving the deployment of Frontier Constabulary (FC) personnel to safeguard power infrastructure. Tensions between the federal PML-N government and KP’s PTI-led administration have escalated since the general election, with the issue being a major point of contention. Sources from the power division revealed that a directive was sent to the Peshawar Electric Supply Company (Pesco), ordering FIRs to be lodged against those responsible for…

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Privatisation Crucial for Reforming DISCOs: Experts Advocate KE Model for Better Governance

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Power-sector

ISLAMABAD: Energy experts are calling for the privatisation of Pakistan’s electricity distribution companies (DISCOs) as a vital step toward their reform. During a consultation organized by the Parliamentary Forum on Energy and Economy, stakeholders discussed the future of DISCOs, emphasizing the need for improved governance and efficiency. National Assembly Speaker Ayaz Sadiq highlighted the challenges posed by high power tariffs, noting that previous issues with loadshedding have hindered investment and exacerbated inefficiencies in the energy sector. Shaheera Tahir from PRIED recommended using K-Electric (KE) as a blueprint to enhance accessibility…

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