SECMC owes $60 million in payments to CMEC, a vendor of SECMC for coal mining in Thar Block II. SECMC has been unable to clear the dues since May 2022 due to LC restrictions. Even a letter from Sindh’s Power Minister Imtiaz Sheikh has failed to wake the policymakers on this critical matter, sources familiar with the matter revealed. Sources said that credit letter limitations have ended up being unfavorable for the economy. Policymakers can’t arrange among fundamental and extravagance imports, resultantly taking cost for the main requirements including power…
Read MoreLC Issue Strikes Thar Mining
