Category: Recent Post

The circular debt was around Rs2 trillion by June 20. The toll is still growing, and without doing anything, it will grow at a faster pace. Out of this Rs2 trillion, around half is on PHPL books and the remaining half is on CPPA-G balance sheet. PHPL debt is being paid off to power suppliers and has nothing to do with energy sector liquidity problem. The real challenge is around CPPA-G debt. The problem is not only the flow (incremental debt) but also of the stock (accumulated debt). On stock,…

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The solar power is the way forward for Pakistan to safeguard its energy security and to lower the basket price of electricity for the consumers in the country.This was stated by CEO of Alternative Energy Development Board (AEDB) Dr Rana Abdul Jabbar Khan in his keynote address at the 1st Virtual Conference on Solarization of Pakistan organized by the Energy Update.The AEDB CEO said that Pakistan should massively take advantage of its presence in one of the best solar zones in the world.He said that lately solar energy had become…

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Federal Minister for Energy Mr. Omar Ayub Khan and Special Assistant to the Prime Minister (SAPM) on Petroleum, Mr Nadeem Babar accompanied by Secretary Petroleum, Mian Asad Hayaud Din visited the country’s flagship oil company, Pakistan State Oil (PSO). Chairman, PSO Board of Management, Mr Zafar I. Usmani, Chief Executive Officer & Managing Director PSO, Syed Muhammad Taha and the Company’s senior management welcomed the honorable guests at PSO’s head office in Karachi. Federal Minister Mr. Omar Ayub Khan chaired the meeting wherein CEO & MD PSO briefed the dignitaries…

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ISLAMABAD: With the lowest GDP growth of 0.5% among all South Asian nations, the World Bank (WB) has warned Pakistan about external financing risks that could be compounded by difficulties in rolling-over bilateral debt from non-traditional donors and tighter international financing conditions. The WB’s report on South Asia reveals that regional growth was expected to rebound to 4.5% in FY21 against -7.7% in the last fiscal year.  Afghanistan’s growth is now projected at 2.5%, Maldives 9.3%, Sri Lanka 3.3%, Bangladesh 1.6%, Bhutan 0.6%, Pakistan 0.5% and India 5.4% in FY21.…

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Mian Anjum Nisar, President FPCCI has demanded urgent solution for the problem of urban flooding and water shortage in Karachi, at a dinner reception hosted by Mr. Obaid Saleem Patel, Convener FPCCI Standing Committee on “Urban Development and Mr. Saleem Qasam Patel, CEO M/s. Basic Const Group. President FPCCI said that in recent years, Karachi city has been facing severe problems due to heavy rains in monsoon season as there are serious issues with the drainage system in Karachi. More to that, irregular and inefficient supply has created extreme water…

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