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ECC Approves First Installment to 35 IPPs


ECC Approves First Installment to 35 IPPs
The Economic Coordination Committee of the cabinet on Wednesday approved payment of the first installment to 35 IPPs out of a total 47, whereas payment to the remaining 12 IPPs (under Power Policy 2002) may be withheld owing to the NAB investigation.
Federal Minister for Finance and Revenue, Mr. Shaukat Tarin, chaired the Economic Coordination Committee (ECC) of the Cabinet today.
Power Division presented a summary before the ECC regarding the release of the first installment of payment to IPPs. Secretary Power Division briefed the Committee about the recommendations of the sub-committee constituted during ECC last week. The ECC approved payment of the first installment to 35 IPPs out of total 47 whereas payment to the remaining 12 IPPs (under Power Policy 2002) may be withheld owing to the NAB investigation. ....

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Pakistan seeks $1.2 billion World Bank program loan for power sector reforms


Business
May 1, 2021
ISLAMABAD: Pakistan has asked World Bank for $1.2 billion loans during the ongoing fiscal year, including $600 million for Pakistan Programme for Affordable and Clean Energy to reduce circular debt via cost cut in power generation, decarbonising energy mix, improving distribution, and retargeting electricity subsidies.
The proposed programme loan of $600 million would be given in the shape of $300 million IDA loan and remaining $300 million as IBRD financing. “Pakistan and the WB high-ups discussed $1.2 billion programme loans approval till June 30, 2021, for undertaking reforms on energy and fiscal side,” top official sources confirmed to The News on Friday.
Project financing has been slowed down in Pakistan due to various reasons, including lacklustre approach of executing agencies of donor funded projects. Therefore, authorities were now aiming to generate dollar inflows through programme loans, because its funding was disbursed after u ....

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Pakistan's tourism sector to be explored for revenue, says PM


2 hours ago
A foreign tourist holds Pakistan national flag during her visit to Skardu, Gilgat-Baltistan. File
Prime Minister Imran Khan said owing to Pakistan’s immense tourism potential, the government was focused on exploring the sector for revenue and employment generation.
“Pakistan can earn money from tourism alone, both local and international, by revamping the infrastructure and ensuring facilities for tourists,” the prime minister said at the cheque distribution ceremony under Ehsaas scholarships and Kamyab Jawan Programme.
The prime minister, who earlier inaugurated the Kohsar University at the hill resort of Murree, said the world-class institution would play a key role in imparting the local student’s necessary skills in hotel management and tourism. ....

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