ISLAMABAD: Federal Minister for Finance Senator Muhammad Aurangzeb reviewed the structural reforms being undertaken in the power sector to improve its efficiency and service delivery. Speaking on the occasion, the finance minister said that the reforms included reorganising the boards of directors of Discos by adding specialists from the private sector and lowering the number […]
In the current financial year, the revolving debt of the power sector will increase by another 100 billion rupees, the plan of which has been shared with the IMF. Moqar Qaumi newspaper said in its report with reference to sources that the revolving debt of the power sector has increased from 2400 billion rupees, by […]
ISLAMABAD: Chinese lenders to the independent power producers (IPPs) have refused to accept the Term “Secured Overnight Financing Rate” (SOFR) but have agreed on transitioning from the London Inter-bank Offered Rate (Libor) to daily SOFR. The issue was taken up during suo motu proceedings on Thursday on the subject of shifting from Libor to SOFR […]
Listen to article The Lahore High Court on Tuesday issued a stay order against the collection of fixed charges on electricity bills, following a petition filed by nine companies, including Flying Paper Mills. Justice Muhammad Raza Qureshi presided over the hearing, where the petitioners challenged the imposition of fixed charges by Lahore Electric Supply Company (LESCO). Representing […]
ISLAMABAD: Deputy Prime Minister and Foreign Minister Ishaq Dar on Sunday said the government was taking steps to increase foreign investment in the petroleum sector by resolving key issues of the sector. The deputy PM, presiding over the first meeting of a committee, formed to consider the issues faced by the petroleum sector’s E&P companies […]
Listen to article The federal government has initiated plans to reduce the current electricity tariffs through a series of proposals and measures, acknowledging the significant financial risks faced by the power sector. According to sources, the government is working on multiple strategies to rationalise electricity rates, which include reducing allocations in development budgets at both federal and […]
Listen to article KARACHI: Pakistan’s power distribution companies (DISCOs) have inflicted a staggering loss of over Rs196 billion on the national exchequer in just one year, according to the Auditor General of Pakistan’s report for the fiscal year 2023-24. The audit report highlights that eight DISCOs exceeded the loss limits set by the National Electric Power Regulatory […]
Following widespread protests over skyrocketing electricity bills, Prime Minister Shehbaz Sharif has announced the formation of a task force to implement structural reforms in Pakistan’s power sector, according to media reports. The task force aims to alleviate the financial burden on the government and establish a more efficient, self-sustaining power market. Sources reveal that Power […]
Prime Minister Shehbaz Sharif has constituted an eight-member task force to oversee the implementation of structural reforms in the power sector. According to a press release issued by the Prime Minister’s Office (PMO), the task force has been formed to reduce the financial burden on the power sector being borne by the government, and to […]