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The government is thinking about putting in prepaid energy meters.

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4 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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In interbank trade, the Pakistani rupee beats the US dollar.

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6 days ago

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In the international exchange market, the US dollar has continued to weaken in relation to the Pakistani rupee.

The dollar fell to Rs278.10 from Rs278.17 at the beginning of interbank trading, according to currency dealers, a seven paisa loss.

In the meantime, there was a lot of turbulence in the stock market, but it recovered and moved into the positive zone. The KSE-100 index recovered momentum and reached 116,000 points after soaring 1,300 points.

Both currency and stock market swings, according to analysts, are a reflection of ongoing market adjustments and economic uncertainty.

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Phase II of CPEC: China-Pakistan Partnership Enters a New Era

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7 days ago

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The cornerstone of economic cooperation between the two brothers and all-weather friends is still the China-Pakistan Economic Corridor, the initiative’s flagship project.

In contrast to reports of a slowdown, recent events indicate a renewed vigour and strategic emphasis on pushing the second phase of CPEC, known as CPEC Phase-2, according to the Ministry of Planning, Development, and Special Initiatives.

According to the statement, this crucial stage seeks to reshape the foundation of bilateral ties via increased cooperation, cutting-edge technology transfer, and revolutionary socioeconomic initiatives.

Planning Minister Ahsan Iqbal is leading Pakistan’s participation in a number of high-profile gatherings in China, such as the 3rd Forum on China-Indian Ocean Region Development Cooperation in Kunming and the High-Level Seminar on CPEC-2 in Beijing.

His involvement demonstrates Pakistan’s commitment to reviving CPEC, resolving outstanding concerns, and developing a strong phase-2 roadmap that considers both countries’ long-term prosperity.

At the core of these interactions is China’s steadfast determination to turn CPEC into a strategic alliance that promotes development, progress, and connectivity.

Instead of being marginalised, CPEC is developing into a multifaceted framework with five main thematic corridors: the Opening-Up/Regional Connectivity Corridor, the Innovation Corridor, the Green Corridor, the Growth Corridor, and the Livelihood-Enhancing Corridor.

With the help of projects like these, the two countries will fortify their partnership, and CPEC phase-2 will become a model of global economic integration and collaboration that benefits not just China and Pakistan but the entire region.

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The inflation rate in Pakistan dropped to its lowest level.

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7 days ago

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On December 2, core inflation as determined by the Consumer Price Index (CPI) significantly slowed, falling to 4.9% in November 2024 from 7.2 percent in October 2024.

The CPI-based inflation rate for the same month last year (November 2023) was 29.2%, according to PBS data.

Compared to a 1.2% gain in the prior month, it increased by 0.5% month over month in November 2024.

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