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Pakistan has approved the privatization of 24 organizations.

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According to reports, the federal cabinet made the decision during a meeting in Islamabad. They added that the five-year privatization scheme will be carried out in three stages.

The initial stage will involve the privatization of Pakistan International Airlines (PIA), House Building Finance Corporation (HBFC), Faisalabad Electric Supply Company, Islamabad Electric Supply Company, and Gujranwala Electric Supply Company.

According to sources, LESCO, MEPCO, PESCO, HESCO, SEPCO, HESCO, Utility Stores Corporation, State Life Insurance Corporation, and Pakistan Re-Insurance Company would be privatized in the future.

They additionally state that following the evaluation, additional institutions will be included in the privatization initiative.

Prior to this, the federal cabinet approved the privatization of 13 organizations within Pakistan’s Power Division, which includes nine power distribution corporations.

According to sources, nine out of the 11 government-owned electricity distribution businesses have been included in the list for privatization. Nevertheless, the Quetta Electric Supply Company and Tribal Electric Supply Company were not included in the list.

In addition, the cabinet also granted approval for the inclusion of power production firms (GENCOs) in the list of entities to be privatized.

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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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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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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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Discos report losses of Rs239 billion.

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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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