Revenue losses from slow rollout of PDL and import compression combined with higher spending needs threaten to break the government’s budget ahead of a crucial review meeting with the IMF. Can Dar keep the EFF afloat? By Muhammad Ali.
Economy
A view of the Thar Coal Block I (TCB-I) power generation facility at Thar, Sindh. Photo courtesy of TCB-I Facebook page (facebook.com/TharCoalBlockOne/).
Big saving 1,320 MW Thar power plant on tap soon
The 2×660 MW coalfired Thar Coal Block I power plant is estimated to cut Pakistan’s annual power bill by over a billion dollars, enabling cheaper power to the consumers. By Muhammad Ali.
China, Pakistan agree to launch $10 billion railroad project
Monitoring Desk
BEIJING: Chinese President Xi Jinping and Pakistani Prime Minister Shehbaz Sharif agreed in a meeting in Beijing to launch a high-speed rail project that could cost $9.85 billion, Bloomberg newswire reported on Wednesday.
October inflation jumps to 26.6pc as food and energy prices spiral
By Staff Reporter
ISLAMABAD: Inflation soared to 26.6 percent in October from a year earlier as food and energy prices spiraled, official figures revealed Tuesday, escalating the country’s cost-of-living crisis.
Power division gears up to deploy funds for Chinese IPPs to secure CPEC
By Staff Reporter
ISLAMABAD: The government has approved the setting up of the Pakistan Energy Revolving Fund (PERF) to repay outstanding dues worth Rs300 billion to Chinese Independent Power Producers (IPPs), a day ahead of Prime Minister Shehbaz Sharif’s scheduled visit to Beijing.
Rs1.8 trillion farm loan package unveiled
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif unveiled a loan package worth Rs1.8 trillion for farmers this year, saying it would help support the flood-hit agriculture sector of the country.
Govt keeps fuel prices unchanged
By Staff Reporter
ISLAMABAD: The government left domestic fuel prices unchanged on Monday at the second consecutive fortnightly review under an IMF-backed pricing mechanism that links energy prices to international markets.
Government approves import of 300,000 tons of Russian wheat
By Staff Reporter
ISLAMABAD: Pakistan is set to import 300,000 tons of wheat at $372 a ton from Russia in a government-to-government deal as it battles to secure supplies after devastating floods in summer damaged the country’s strategic food stockpiles.
A Pakistani farm hand is seen fertilising a wheat field by hand in this photo by Qasim Ghauri dated February 11, 2021. Image courtesy of APP.
No G2G imports of urea fertiliser?
Pakistan must import about 300,000 MT of urea fertiliser, and commercial import prices may be out of the grower’s reach, necessitating a budget-breaking subsidy. By Muhammad Ali.
Finance ministry paints bleak economic outlook
By Staff Reporter
ISLAMABAD: The outlook for Pakistan’s economy darkened due to recent flash floods with inflationary and external sector pressures continue to hamper growth and a range of economic indicators pointing towards an impending crisis, the finance ministry said.