Tag: CIRCULAR DEBT
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FIA directed to identify and suspend officials involved in overbilling electricity consumers
Prime Minister Shehbaz Sharif has announced stringent measures against officials responsible for overcharging electricity consumers.
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IMF urges gas sector reforms to curb circular debt
The International Monetary Fund (IMF) emphasized the significance of prompt gas tariff determinations and notifications, crucial in curbing the escalating gas circular debt, while safeguarding vulnerable households.
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SNGPL proposes 137.62% hike in gas tariff amidst financial challenges
Sui Northern Gas Pipelines Limited (SNGPL) has proposed a substantial 137.62 per cent increase in gas tariffs per Metric Million British Thermal Unit (MMBtu), aiming for implementation in June 2023.
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IMF recommends gas price hike, subsidy cuts for Pakistan
The International Monetary Fund (IMF) has reportedly urged Pakistan to address the growing concerns surrounding the power sector’s circular debt, which now stands at 4 per cent of the gross domestic product (GDP).
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Govt plans to increase gas and electricity prices in January
The interim Finance Minister, Dr Shamshad Akhtar, announced during a press conference that the caretaker government is planning to increase electricity and gas tariffs in January to address the circular debt issue, in line with the International Monetary Fund’s (IMF) Stand-By Arrangement (SBA).
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Govt implements major gas price hike to tackle circular debt crisis
On Monday night, the interim government made a significant announcement that will have a profound impact on the nation’s economy.
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IMF-backed gas price hike in Pakistan aims to tackle rising circular debt
The Economic Coordination Committee (ECC) recently made a decision to raise gas prices, a move that financial experts at Topline Securities, a brokerage firm, believe is a crucial step in Pakistan’s efforts to reach an agreement with the International Monetary Fund (IMF). This agreement is set for review in November.
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Rs5.1 trillion debt threatens energy sector, govt thinking about privatisation of power companies
The caretaker government is contemplating significant changes in response to mounting circular debt and losses in the power and gas sectors in Pakistan.
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NEPRA recommends electricity rate increase of Rs3.28 per unit
The National Electric Power Regulatory Authority (NEPRA) has officially proposed to the government an increase in the electricity tariff of Rs3.28 per unit, citing the need for a quarterly adjustment.
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Power sector’s circular debt surpasses Rs2 trillion despite massive tariff increase
Even though they increased electricity prices a lot, Pakistan’s power sector ended up owing more money. In June 2023, their debt was Rs2.31 trillion, which is higher than the Rs2.25 trillion it was in the year before (FY22). This increase is about Rs57 billion or around 3%, and it’s the opposite of what happened in…