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Reforms in the power sector are under progress as a number of IPP contracts expire.

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2 months ago

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In order to lower electricity costs and improve availability for consumers, the federal government has started a number of extensive reforms in the power industry under the direction of the National Task Force.

The task team is carrying out important actions for the public’s benefit, including examining and ending out-of-date contracts with specific Independent Power Producers (IPPs), Power Minister Owais Leghari stressed.

Leghari emphasized that these changes are intended to reduce government expenditures as well as electricity costs.

The government is also working to improve the energy infrastructure and has started the process of privatizing distribution firms. With the introduction of a new power market structure, consumers will have more options when it comes to buying electricity.

Revolving debt in the power sector has increased to $9.5 billion, highlighting how urgent these measures are. The average man will eventually gain from the reforms, according to economic experts, as they would lower electricity prices and significantly boost the economy.

Federal Minister for Energy Owais Leghari is the chair of the task force for structural reforms in the power sector, which Prime Minister Shahbaz Sharif established.

NEPRA, CPPA, PPIB, SECP, army officials, and representatives from other sectors make up the task team. Within a month, it must present recommendations to the prime minister that prioritize cutting capacity payments to IPPs and resolving other crucial concerns to guarantee the power industry’s financial viability.

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Maintaining Fertiliser Price Stability: The Need for a Continuous Gas Supply to the Fertiliser Sector

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5 days ago

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To guarantee fertiliser price stability, a cabinet committee meeting was presided over by Senator Muhammad Ishaq Dar, the deputy prime minister.

Senior government officials, including Industries Minister Rana Tanveer Hussain, attended the meeting.

The attendees received an update on the government’s, gas suppliers’, and fertiliser industry’s conversations. Additionally, the gas supply for the fertiliser sector was evaluated and determined to be adequate.

Throughout the Rabi cropping season, the Deputy Prime Minister ordered the fertiliser industry to maintain a continuous gas supply in order to guarantee steady production and stock levels.

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Fifth Straight Cut: PM Applauds SBP’s Policy Rate Reduction

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5 days ago

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Prime Minister Muhammad Shehbaz Sharif has praised the State Bank of Pakistan’s decision to lower its policy rate by an additional 2 percent, stating that the bank’s current 13 percent rate is encouraging for the nation’s economy.

He expressed optimism in a statement that the policy rate cut would encourage investment and further boost investor confidence in the country’s economy.

The prime minister said that decreasing the inflation rate also lowered the policy rate and that future inflation rate reductions will be even more pronounced.

Additionally, he expressed gratitude to the Federal Finance Minister and other officials for their work in this area.

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GHQ Attack Case: Prosecution Seeks Bail Cancellation of CM KP & Other Accused, Indicts 9 More

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5 days ago

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25 defendants, including PTI officials, have non-bailable arrest warrants issued by the Anti Terrorism Court of Rawalpindi for their failure to show up for court proceedings related to the GHQ attack case.

Judge Amjad Ali Shah added nine more suspects to the GHQ attack indictment list during today’s ATC Court sessions, bringing the total to 98.

Among the 61 defendants who appeared in court were Shah Mehmud Qureshi and the founder of the PTI.

Among those charged are Khadim Hussain Khokhar, Mehr Mohammad Javed, Chaudhary Asif, Zakir Ullah, Azeem Ullah, Shireen Mazatri, Major Retired Tahir Sadiq, and former MPA Rashid Hafeez.

A plea to cancel the bail of 23 suspects, including Chief Minister Khyber Pakhtunkhwa, has also been filed by the prosecution side.

In the GHQ attack, there were 119 accused in total.

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