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The government is thinking about putting in prepaid energy meters.

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3 months ago

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In a Multan press conference, Leghari reaffirmed the government’s resolve to end power theft in the nation.

He gave customers of energy peace of mind by saying that steps are being done to stop this threat.

Regarding the delivery of the Rs 45 billion relief package to each and every customer, the minister disclosed that negotiations are in progress with power distribution corporations.

Customers will be able to pay for electricity in advance using the prepaid meter system, which will lessen the chance of theft and late payments.

According to the minister of energy, the National Energy Administration of China has been presented with the government’s reform plans and energy vision.

According to Awais Leghari, re-profiling debt of between $8.5 and $9 billion was a significant component of these negotiations, which should lower electricity costs and boost demand for the commodity.

He added, “For possible investments in Pakistan’s power sector, the finance minister and other officials have been in contact with Chinese bankers.”

He added that switching from imported to domestic coal in power plants might result in a considerable reduction in the price of electricity per unit. This is another important aspect of these reforms.

He said that in an effort to lower energy costs from about 24 rupees per unit to about 8 rupees per unit, the conversion of four coal facilities, including the government-owned Jamshoro plant, to local coal was being examined.

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

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15 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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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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Business

Discos report losses of Rs239 billion.

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16 hours ago

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When compared to the same period last year, the data indicates that discos have decreased their losses in the first quarter of the current fiscal year.

The distribution businesses recorded losses of Rs239 billion in the first three months of the current fiscal year, a substantial decrease from the Rs308 billion losses sustained during the same period the previous year.

Additionally, the distribution businesses’ rate of recovery has improved. It has increased to 91% in the first quarter of this year from 84% in the same period last year, indicating success in revenue collection.

Regarding circular debt, the Power division observed a notable change. Last year, between July and October, the circular debt grew by Rs301 billion. Nonetheless, this year’s first four months saw a relatively modest increase in circular debt, totaling about Rs11 billion.

These enhancements show promising developments in the electricity sector’s financial health in Pakistan, where initiatives are being made to accelerate recovery rates and slow the expansion of circular debt.

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