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Day: December 6, 2024

Murad directs provincial depts for timely, targeted planning for ADP 2025-26

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murad-ali

• Emphasis on continuity in efforts to restore infrastructure• Emphasis on aligning uplift efforts with SDGs• Priority areas: improved healthcare, education, climate-smart initiatives in agriculture, irrigation. KARACHI (Dec 6): Sindh Chief Minister Syed Murad Ali Shah has issued detailed guidelines for the preparation of the Annual Development Program (ADP) for 2025-26 aimed at ensuring strategic planning for provincial development, focusing…

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EAD Seeks IsDB Financing Details for Eight Key Infrastructure Projects

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ISDB-Project

ISLAMABAD: The Economic Affairs Division (EAD) has sought comprehensive updates on eight pipeline development projects to evaluate their readiness for potential financing by the Islamic Development Bank (IsDB). The details will be shared with the IsDB Programming Implementation and Supervision Mission (PIASR), scheduled to visit Pakistan from December 8-14, 2024. The projects under negotiation include: Diamer Bhasha Dam Hydropower Project500…

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PM Shehbaz Sharif Orders Crackdown on Petrol Smuggling, Commends Economic Reforms

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Shahbaz-Sharif

ISLAMABAD: Prime Minister Shehbaz Sharif has called for stringent measures to curb petroleum product smuggling as part of efforts to safeguard Pakistan’s revenue and boost economic recovery. Chairing a review meeting on the country’s economic conditions and Federal Board of Revenue (FBR) digitization initiatives, the premier emphasized the urgency of addressing this persistent issue. Sharif highlighted the positive impact of…

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Nepra Approves Transition to SOFR for 59 IPPs with Two Formula Options

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Nepra

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has approved two formulas to transition from the London Interbank Offered Rate (LIBOR) to the Secured Overnight Financing Rate (SOFR) for 59 Independent Power Producers (IPPs), effective July 1, 2023. This transition aligns with global changes as LIBOR ceases publication after September 30, 2024. ECC and Nepra DecisionsThe Economic Coordination Committee (ECC)…

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Saudi Arabia Extends $3 Billion Debt for Another YearPakistan Faces $13 Billion Repayments to Key Creditors by Mid-2025

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saudi-pak

ISLAMABAD: Saudi Arabia has rolled over a $3 billion deposit for Pakistan, extending its maturity by another year. This marks the third consecutive extension since the deposit was initially placed in 2021. The Saudi Fund for Development (SFD) announced the extension on Thursday, the deadline for repayment, underscoring the strong bilateral ties between the two nations. The rollover comes as…

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Experts Call for Transition of Captive Power Plants to Grid SystemPropose Shift to Reduce Gas Consumption and Lower Electricity Costs

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Power-sector

LAHORE: Energy experts have urged the government to expedite the transition of Captive Power Plants (CPPs) to the national grid, emphasizing its potential to reduce natural gas consumption, lower electricity costs, and enhance energy efficiency. This proposal aligns with the National Gas Allocation Policy of 2005 and the Economic Coordination Committee’s (ECC) 2024 gas supply priorities. Experts also recommended comprehensive…

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