According to sources, the decision to issue green bonds is part of the government’s efforts to secure the first tranche of Resilience and Sustainability funds. Sources within the Finance Ministry revealed that the decision was made in consultation with the International Monetary Fund (IMF), and the funds raised will be used for climate change projects. […]
The six fields and two reservoirs were found to have Arabian oil of different grades totalling 8,126 barrels per day, according to Reuters calculations based on the announcement. The natural gas discoveries from two fields and four reservoirs totalled 80.5 million standard cubic feet per day (scfd), the calculations show. Associated gas from the oil […]
The multilateral lender said it had reached a staff-level agreement on the program that was subject to approval by its executive board, which is expected to consider the proposal “in the coming days.” “The agreement builds on the authorities’ impressive early progress in stabilizing the economy, underpinned by a strong fiscal anchor, that is delivering […]
Addressing Pakistan’s Minerals Investment Forum held at the Jinnah Convention Center, the prime minister said Pakistan was blessed by Allah Almighty with huge natural resources spanning over the rugged mountains of Balochistan to snow covered mountains of Khyber Pakhtunkhwa and the pristine tops of Gilgit Baltistan and Azad Jammu and Kashmir. He said the valleys […]
As per details, IMF experts will begin reviewing the performance of various departments of the Pakistan government, starting today. The preparation of this Governance and Corruption Diagnostic Assessment Report is a key target of the ongoing loan program between the IMF and Pakistan. The IMF delegation will assist Pakistan in matters related to governance and […]
Speaking at a press conference in Karachi, he stated that all previous governments, including those led by PML-N, PPP, PTI, and PDM, have supported the IPPs. Responding to the recent reduction in electricity prices, Hafiz Naeem took credit for the decrease in power tariffs, claiming it as a significant achievement of the JI movement against […]
This was stated by IMF Director of Communications Julie Kozack while responding to a query during a press conference. Kozack confirmed that discussions on the Extended Fund Facility (EFF) and climate financing were held separately. Pakistan successfully secured $1.3bln after successful negotiations on climate financing, the IMF communications director said, and added the funds will […]
As per details, the Pakistan federal government submitted a request to the National Electric Power Regulatory Authority (NEPRA) for a reduction of Rs.1.71 per unit in electricity tariff cut. According to the proposal, the reduction will be facilitated through a tariff subsidy. NEPRA is set to hold a hearing on the matter on April 4. […]
As per details, Pakistan’s IMF Mission Representative, Maher Bennisy during informal media talk, said the fund has approved for a reduction of Rs1 per unit in electricity tariffs for all consumers in Pakistan. Bennisy stated that the relief will be financed through revenue generated from levies imposed on gas consumption by captive power plants. He […]
“The IMF team has reached a staff-level agreement (SLA) with the Pakistani authorities on the first review of the 37-month Extended Arrangement under the Extended Fund Facility (EFF), and a new 28-month arrangement under the IMF’s RSF with total access over the 28 months of around $1.3 billion (SDR 1 billion). The staff-level agreement is […]
