Tag: IMF

**LESCO Reduces NEPRA-Related Losses by Rs58 Billion in Two Years**

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New-LESCO

  **LAHORE:** The Lahore Electric Supply Company (LESCO) has reduced its NEPRA-related financial gap from **Rs79 billion to around Rs21 billion** over the past two years, generating cumulative savings of more than **Rs58 billion** for the national exchequer. According to a statement issued by the Power Division on Friday, LESCO also achieved a **recovery rate of 101.05%**, surpassing the National Electric Power Regulatory Authority’s (NEPRA) regulatory benchmark of 100% for the first time in the company’s history. The utility further recorded a significant decline in distribution losses, bringing them down…

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**Pakistan secures safe passage for Qatari LNG cargo through Iran amid energy crisis**

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New-LNG

  **ISLAMABAD:** Pakistan has successfully negotiated with Iran to ensure the safe passage of at least one Qatari liquefied natural gas (LNG) shipment through the Strait of Hormuz, in a move aimed at easing the country’s worsening energy crisis, according to Bloomberg. The LNG carrier **Al Areesh**, which had been anchored in the Persian Gulf after loading cargo at Qatar’s Ras Laffan export terminal earlier this month, transited the Strait of Hormuz on Thursday, according to Bloomberg ship-tracking data. The vessel crossed the strategic waterway with its transponders switched on…

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IMF spox says EFF reforms helped stabilise Pakistan’s economy

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IMF

The International Monetary Fund (IMF) has said that Pakistan’s policy efforts under its Extended Fund Facility (EFF) programme have “helped stabilise the economy and rebuild confidence” with fiscal performance described as “strong”. Speaking at a weekly press briefing on Thursday, IMF Communications Director Julie Kozack said a staff team is expected to visit Pakistan from February 25 to hold discussions on the third review under the EFF and the second review under the Resilience and Sustainability Facility (RSF). Kozack noted that Pakistan currently holds a primary fiscal surplus of 1.3% of gross domestic product…

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PM Seeks IMF Approval for Power Bill Waiver in Flood-Hit Areas

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New-IMF

ISLAMABAD/LAHORE/SUKKUR: Prime Minister Shehbaz Sharif has directed the Ministry of Finance to seek the International Monetary Fund’s (IMF) approval for a one-month exemption from electricity bills for households devastated by recent floods across Pakistan. He stressed the urgency of immediate relief, asking the ministry to begin talks with the IMF without delay. Officials said the relief would apply across all flood-hit regions, urban and rural, to ease the burden on disaster-stricken families. Meanwhile, the Punjab government has requested deployment of 1,710 Pakistan Army personnel to assist civil authorities in post-flood…

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Govt Seeks IMF Nod to Impose GST on Petroleum Amid \$6bn Refinery Investment Deadlock

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New-IMF

ISLAMABAD: The Special Investment Facilitation Council (SIFC) has directed the Ministry of Finance to urgently obtain approval from the International Monetary Fund (IMF) for the imposition of General Sales Tax (GST) on petroleum products — a key measure tied to unlocking \$6 billion in refinery upgrade investments. Despite earlier commitments, the proposed 5% GST on petroleum was not included in the Finance Bill 2025, raising alarms in the oil industry and stalling long-term planning under the Pakistan Oil Refining Policy for Upgradation of Existing Refineries (2023). Industry stakeholders, particularly the…

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