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

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The task team is carrying out important actions for the public’s benefit, including examining and ending out-of-date contracts with specific Independent Power Producers (IPPs), Power Minister Owais Leghari stressed.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

Irfan Siddiqui meets with the PM and informs him about the Senate performance of the parliamentary party.

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11 hours ago

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The head of the Senate’s Foreign Affairs Standing Committee and the PML-N’s parliamentary leader paid Prime Minister Muhammad Shehbaz Sharif a visit in Islamabad.

Senator Irfan Siddiqui gave the Prime Minister an update on the Parliamentary Party’s Senate performance.

Additionally, Senator Irfan Siddiqui gave the Prime Minister an update on the Senate Standing Committee on Foreign Affairs’ performance.

He complimented the Prime Minister on his outstanding efforts to bring Pakistan’s economy back on track and meet its economic objectives.

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Business

SIFC Increases Direct Foreign Investment: Investment in the Energy Sector Rises by 120%

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11 hours ago

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The Special Investment Facilitation Council is intended to help Pakistan’s energy sector attract $585.6 million in direct foreign investment in 2024–2025. The amount invested at the same time previous year was $266.3 million.

This is a notable 120% rise, mostly due to investments in gas exploration, oil, and power. Such expansion indicates heightened investor confidence and emphasizes the development potential in important areas.

The State Bank reports that foreign investment in other vital industries has increased by 48% to $771 million.

This advancement is a blatant testament to SIFC’s efficient investment procedure and quick project execution.

The purpose of the Special Investment Facilitation Council is to establish Pakistan as an investment hub by aggressively promoting regional trade and investment in the energy sector and other critical industries.

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Speaking to a press conference, Marriyum Aurangzeb says the PML-N government has restored the trust of investors.

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According to Marriyum Aurangzeb, senior Punjab minister, the PML-N government has won back the trust of investors by making strides in a number of areas, including agriculture.

Marriyum Aurangzeb, speaking at a press conference in Lahore, emphasized the Punjab government’s initiatives to bring about major changes in the province, particularly in Lahore.

Marriyum Aurangzeb stated that in order to guarantee sustainable growth, the master plan for Lahore has been completed, and plans of a similar nature are being worked on for other districts.

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