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The government chooses to close all utility stores nationwide.

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4 months ago

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The Senate Standing Committee was informed about the decision by Saif Anjum, who also provided suggestions to the panel on the closure of utility stores. The rightsizing Committee has proposed, among other things, closing utility stores and other businesses in order to cut costs.

The federal government decided to close the outlets because, according to reports, it did not have the necessary cash to keep them running.

The government’s financial woes and the need to curtail spending were brought to the committee’s attention.

The closure plan will go to the cabinet secretary for review before being brought to the full cabinet for approval.

A schedule for closing all of the utility stores nationwide will be determined after approval.

He informed the Senate panel that other entities’ closure has been suggested by the rightsizing committee and would be accepted by the government.

Part of the government’s efforts to cut costs and handle budgetary constraints is the decision to close the utilities store.

Previously, the government of Pakistan “okayed” a five-year privatization plan. The five-year privatization initiative will be finished in three phases, the sources said, adding that the decision was made by the federal cabinet during a meeting that was held today in Islamabad.

First, the following companies would be privatized: Gujranwala Electric Supply Company, Faisalabad Electric Supply Company, Islamabad Electric Supply Company, House Building Finance Corporation (HBFC), and Pakistan International Airlines (PIA).

Eventually, the sources added, private companies will include LESCO, MEPCO, PESCO, HESCO, SEPCO, HESCO, Utility Stores Corporation, State Life Insurance Corporation, and Pakistan Re-Insurance Company.

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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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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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