Category: Shortcode

Updated CDMP as per SBA yet to be approved

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CDMP-SBA

ISLAMABAD: The pledge for the Cabinet to approve an updated Circular Debt Management Plan (CDMP) by end-July 2023 as stipulated in the Memorandum of Economic and Financial Policies section of the Stand-by Arrangement (SBA) documents uploaded on the International Monetary Fund website on 12 July 2023 has yet to be met. The updated CDMP envisaged clearance of circular debt stock payments of Rs 392 billion through PHPL principal settlement (Rs 82 billion), payments to GPPs and CPEC IPPs (Rs 310 billion) and a Rs 976 billion (0.9 percent of GDP)…

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Tumultuous NA term ends today

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shehbaz-shareef

Prime Minister Shehbaz Sharif on Tuesday confirmed that the term of the National Assembly would be cut short prematurely on August 9 (today), paving the way for a caretaker setup to take up the reins after consultations with the opposition leader. PM Shehbaz Sharif will formally recommend to President Arif Alvi the dissolution of the 15th National Assembly once the government’s term is completed. The president will have 48 hours to comply with the recommendation; if he fails to do so, the legislature will automatically stand dissolved. During a ceremony…

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Neelum-Jhelum hydropower project connected to national grid

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Neelum-Jhelum

ISLAMABAD: At last, after one year and one month, the 969 MW Neelum-Jhelum hydropower project that became non-operational on July 6, 2022, due to a blockage in the 3.5 km Tail Race Tunnel (TRT) has been connected to the national grid by making one unit of 242.25 MW operational. Out of the remaining three units, two units would be made functional today (Tuesday) and the fourth unit would be rendered fully operational by tomorrow (Wednesday) — the last day of the current regime, the top officials of the Water Resources…

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Tariff increases for KE consumers merged with Discos for uniformity

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Nepra-tariff

ISLAMABAD: Before leaving office, the PMLN-led coalition government on Monday approved the merger of quarterly tariff increases for K-Electric with other distribution companies (Discos) seeking more than Rs4 per unit additional cost worth Rs145 billion for recovery in July-September billing, besides clearing amendments to the power transmission policy for speedy investments from Gulf Cooperation Council (GCC) through negotiations on government-to-government (G2G). The decisions were taken at a meeting of the Economic Coordination Committee (ECC) of the Cabinet presided over by Finance Minister Ishaq Dar. The ex-Wapda distribution companies (Discos) have…

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CCoE okays refining, power policies

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Ishaq-Dar

ISLAMABAD: In a rare move, Finance Minister Ishaq Dar on Monday presided over a meeting of the Cabinet Committee on Energy (CCoE) on behalf of Prime Minister Shehbaz Sharif and approved three major policies including incentives for upgradation of old oil refineries, implementation of about 20 renewable energy projects blocked for years and national electricity plan. The CCoE is led by the prime minister and comprised seven ministers including the finance minister. The sources said Mr Dar, who remained in the headlines recently for being considered for the post of…

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