The Prime Minister approved the Integrated Generation Capacity Expansion Plan (IGCEP) 2024–34, a long-awaited 10-year roadmap for Pakistan’s power sector. The plan is expected to save $17 billion through rescheduling and cancellation of 7,967 MW of planned projects. Core objectives of this plan include: According to the plan,18 projects totalling 7,017 MW, including strategic hydropower […]
The International Monetary Fund (IMF) has set eleven new structural benchmarks (SBs) for the ongoing $7 billion Extended Fund Facility (EFF) programme including the parliamentary approval of a fiscal year 2026 budget in line with the Fund staff agreement to meet programme targets. Some of the new structural benchmarks added are:
The National Electric Vehicle (NEV) policy is likely to be approved next week by the prime minister and will subsequently be forwarded to the federal cabinet for final approval and implementation. This reaffirms the government’s commitment to promoting clean energy and sustainable transport solutions, in line with the prime minister’s vision of a greener and […]
Chief Minister Punjab Ms. Maryam Nawaz Sharif announced the Green Tractor Scheme at the Rice Institute Kala Shah Kaku. This scheme provides tractors and cash grant to the wheat farmers. On this occasion she handed over the key of the tractor to farmers. She inspected 75 tractors and other agricultural equipment like Rotavator, Rotary Tiller […]
Security Papers Limited (PSX:SEPL), the company engaged in manufacturing banknotes and other security papers, announced plans to upgrade its plant, which is expected to be completed within 18 months. The listed company shared the development in its notice to the Pakistan Stock Exchange (PSX). “SPL was duly incorporated in Karachi on 8 December 1965, as […]
State Bank of Pakistan (SBP) Governor Jameel Ahmad has notified that the central bank would issue the first new currency note in the second half of 2025,replacing all the existing notes one by one – an initiative aimed at bringing new banknotes with improved security features. The central bank is set to secure the federal […]
The Ministry of Climate Change and Environmental Coordination (MOCC) announced a National Electric Vehicle Policy under which the Government has decided that 30% of all vehicles (locally manufactured or imported) must be electric by 2030. Under this policy the Government has also decided to give subsidies of Rs 50,000 for motorcycles and Rs 200,000 for […]
State Bank Pakistan (SBP) has decided to cut its policy rate by 200bps as per the decision taken in the MPC meeting on Thursday 12 September 2024. The cut in policy rate was being eagerly awaited by stakeholders due to the following positive news on the economic front: This cut bodes well for the Pakistani […]
The Cabinet Committee on Privatisation (CCoP) is scheduled to meet on Friday (Aug 2 2024) to approve Privatisation Programme 2024-25, besides transfer of 322,640.900 shares of OGDCL to Petroleum Division or Pakistan Sovereign Wealth Fund (PSWF) The CCoP is set to approve 24 SOE (State Operated Enterprises) for privatization. This is in line with one […]
