Ninety-four percent of domestic customers will benefit from the budgetary subsidy in 2024, according to a World Bank report, which credits the increase in protected consumers with contributing to the weight of subsidies.

In the current fiscal year, the electricity sector subsidy has increased by an astounding Rs. 954 billion, from Rs. 236 billion in the 2020 fiscal year to Rs. 1190 billion.

Notwithstanding changes, the circular debt has averaged Rs. 400 billion yearly over the last four years due to the incapacity to minimize losses and inadequate recovery of electricity payments.

According to the World Bank, the government must solve the fundamental problems in the power industry in order to lower the burden of subsidies and circular debt, as rising electricity prices and inadequate tax collection will only serve to worsen the circular debt crisis.

The rise in Pakistan’s power sector circular debt has raised worries from the World Bank (WB) despite an unprecedented increase in energy pricing.

Within the last six years, the debt has grown by 1241 billion rupees, according to the World Bank’s study. Between 2019 and 2021, the debt climbed by 1128 billion rupees.

The electricity sector’s circular debt has been increasing at an alarming rate, according to a World Bank analysis. Between 2022 and 2024, there was a substantial increase of 113 billion rupees.

Pakistan’s electricity industry has 2393 billion rupees in total circular debt as of 2024.

Restructuring is required to solve the circular debt issue, according to the World Bank.

The meeting, presided over by Khurshid Shah of the People’s Party, would review versions of the proposed constitutional amendment that the political parties have submitted.

Pakistan Muslim League-Nawaz (PML-N) Senator Irfan Siddiqui had earlier declared, “Today is the day of big and positive news.” “Perhaps every draft will be combined into one,” Siddiqui stated.

“A consensus will emerge today based on what you say. A scribe asked Khurshid Shah if the three drafts were combined into one.

“For this business, today’s session has been scheduled. When I receive the manuscript, we’ll see,” Shah answered.

After spending several hours debating the proposed constitutional amendments related to judicial reforms at the Jati Umra in Lahore, the PML-N, PPP, and JUI-F reached a consensus yesterday.

Leaders of the JUI-F, PPP, and PML-N held a thorough debate on the proposed 26th constitutional amendment.

PPP Chairman Bilawal Bhutto Zardari, President Asif Ali Zardari, Prime Minister Shehbaz Sharif, PML-N President Nawaz Sharif, chairman Minister of Punjab Maryam Nawaz, JUI-F chairman Maulana Fazlur Rehman, and others attended the meeting at the Jati Umra, the Sharif brothers’ home in Lahore.

“The three parties have reached a consensus regarding judicial reforms,” Ishaq Dar stated, adding that the legal system will deliver prompt justice following the changes.

According to Fazlur Rehman, there is agreement on judicial changes to a certain extent. “Agreements are being reached on other issues as well,” he continued.

Three separate versions of the proposed constitutional amendments, each put forth by three parties, were discussed during the meeting. Khursheed Shah of the PPP, who is in charge of the special committee on constitutional change in the parliament, also made the proposals.

The lower house session has already been convened in anticipation of the federal administration presenting the constitutional amendment to the National Assembly on Thursday, or today.

In the opening Test match between Pakistan and England at the Multan Cricket Stadium, off-spinner Sajid Khan created history by taking seven wickets, shattering the 24-year-old record set by the late, great Saqlain Mushtaq.

Day three of the second Test saw England eliminated for 291 after seven wickets from Sajid Khan, trailing Pakistan’s first innings by 366 runs.

During the morning session, the 31-year-old off-spinner claimed three of the four wickets that fell, making it his second five-wicket haul of the day. England had resumed at 239-6 in Multan.

Remaining wicket-taker for Pakistan, with statistics of 3-101, was left-arm spinner Noman Ali.

Sajid Khan ended up being the first Pakistani off-spinner to take five or more wickets at home since Saqlain Mushtaq did it in 2000 at Rawalpindi Cricket Stadium, taking seven wickets for 111 runs in 26.2 overs.

The scoreboard read 239-6 when England had already resumed their batting. At the crease were Jamie Smith (12) and Brydon Carse (2).

But in the morning, Sajid Khan replaced Carse after they could only add nine more runs. After reaching 21, Smith was caught by Noman, and the off-spinner quickly got rid of Matthew Potts (6).

Prior to Sajid finishing the batting, Jack Leach amassed a vital 25-run unbeaten innings. He and Shoaib Bashir (9) added 29 runs for the final wicket.

Noman grabbed three wickets at a cost of 101 runs, while Sajid took figures of 7-111.