End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country.
Read MoreIMF Reaches Staff-level Agreement with Pakistan on a US$3 billion Stand-By Arrangement
Category: Shortcode
ECC concerned at ‘higher generation cost’ of KE
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet is said to have expressed concerns over higher generation cost of K-Electric (KE), seeking a detailed plan of cost rationalization, well informed sources told Business Recorder. On June 21, 2023, during the ensuing discussion, Power Division shared detailed calculations and justification for the case and highlighted that Finance Division had agreed with the proposal. Secretary Power Division requested the ECC for modification in proposal of the summary to be considered as “Rs. 75.379 billion” instead of “Rs. 79 billion”. The ECC endorsed…
Read MoreWAPDA, UAE group ink MoUs to address Pakistan’s energy crisis
In a groundbreaking development, the United Arab Emirates (UAE) has committed a substantial investment package to accelerate the adoption of sustainable energy solutions in Pakistan, further strengthening their bilateral ties. The Water and Power Development Authority (WAPDA) and the private office of Sheikh Ahmed Dalmook Al Maktoum here on Sunday signed two significant Memorandum of Understanding (MoUs) to undertake strategic projects in Pakistan’s energy sector. The first MoU focuses on the development of a floating solar power project of up to 1000MW on existing water reservoirs, while the second MoU…
Read MoreKP power deptt decides to appoint CEO of KPT&GC
The power department KP has decided to appoint any experienced senior officer with relevant field related to energy sector for the appointment of Chief Executive Officer (CEO) of Khyber Pakhtunkhwa Transmission & Grid Company (KPT&GC) established for the first time in the history of the province to run the electricity transmission system in Pakhtunkhwa in a better way. Provincial government had already sanctioned funds of Rs. 96 million for the establishment of the new company, from which the building has been selected for the appointment of emergency staff and the…
Read MoreOutages surge as shortfall exceeds 8,500MW
LAHORE: Pakistan’s overall energy shortfall has surpassed 8,500 megawatts, sources told Geo News Sunday, as heatwave-like conditions across the country added to woes of people. Sources familiar with the matter said the country’s total energy requirement stands at 28,500 megawatts, while it was producing around 20,000 megawatts. The mercury went up to over 40°C in most parts of the country Saturday, increasing the demand for electricity for cooling purposes. As a result, the power demand stretched, but the supply remained stalled. The News reported that people have to face multifaceted…
Read More
