Author: Admin

Power Division Proposes 23% Cut in Sector Allocation Amid Fiscal Strain

Admin
Power-Division

ISLAMABAD: The Power Division has informed the Prime Minister’s Office (PMO) that the power sector’s allocation for the current fiscal year may face a 23 percent reduction, slashing it from Rs 1.261 trillion to Rs 893 billion, according to official sources. The clarification was issued in response to the PMO’s query about the current status and trajectory of circular debt in the energy sector. Sources said the Power Division rejected reports suggesting a steep rise in circular debt, explaining that while circular debt increased by Rs 87 billion during July–August…

Read More

ECC Approves Circular Debt Settlement Plan, Moves to Wind Up Power Holding Limited

Admin
Circular-Debt

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Friday approved a comprehensive inter-corporate circular debt settlement plan, paving the way for the winding up of Power Holding Limited (PHL) — a company originally established to park legacy debt in the power sector. Chaired by Finance Minister Muhammad Aurangzeb, the ECC also endorsed sovereign guarantees worth Rs660 billion to secure Rs1.225 trillion in commercial loans from local banks. These funds will be used to settle circular debt obligations and facilitate gas diversion for fertiliser plants. According to a statement,…

Read More

Global Lenders Warn Pakistan of Mounting Climate Fragility, Urge Urgent Reforms and Sustainable Financing

Admin
New-IMF

ISLAMABAD: International Financial Institutions (IFIs) have sounded the alarm over Pakistan’s growing climate vulnerability and environmental degradation, cautioning that unchecked population growth and dwindling natural resources could intensify the country’s economic and ecological fragility. The warning emerged during the closing plenary of the 28th Sustainable Development Conference, held on Friday, where experts — including representatives from the World Bank, International Monetary Fund (IMF), and United Nations Development Programme (UNDP) — emphasized the urgent need for policy reforms, sustainable financing, and integrated climate action. World Bank Country Director Dr. Bolormaa Amgaabazar…

Read More

Pakistan, US Reaffirm Commitment to Building ‘Economically Entrenched Strategic Partnership’

Admin
New-Project103

WASHINGTON/ISLAMABAD: Pakistan and the United States have reaffirmed their commitment to strengthening bilateral relations, with both sides emphasizing the need to develop an “economically entrenched strategic partnership.” The development came during a meeting between S. Paul Kapur, the newly appointed US Assistant Secretary of State for South and Central Asian Affairs, and Ambassador Rizwan Saeed Sheikh of Pakistan at the State Department. The meeting marked Kapur’s first high-level engagement with Pakistan’s envoy since assuming office on October 22. Ambassador Sheikh described the discussion as cordial and forward-looking, noting that both…

Read More

Reon, Telenor Form Strategic Alliance to Drive Clean Energy Transformation in Telecom Sector

Admin
New-Project101

ISLAMABAD: Reon Energy Limited achieved a major milestone at the Energy Finance Forum held at Marriott Hotel, Islamabad, by announcing a strategic alliance with Telenor Pakistan. The event, organized by Reon Energy, gathered thought leaders, financial experts, and industry pioneers to deliberate on the evolving energy landscape and the crucial role of innovation, finance, and technology in accelerating Pakistan’s sustainable energy transition. Under this partnership, Reon Energy and Telenor Pakistan will jointly explore Energy-as-a-Service (EaaS) opportunities designed specifically for the telecom sector. The initiative underscores both companies’ shared vision of…

Read More