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Pakistan
Federal Energy Minister's letter to KP CM seeking time for meeting
Awais Ahmad Khan wrote in the letter that the losses of PESCO and TESCO for the current financial year have been estimated at 188 billion rupees.
Islamabad: Federal Energy Minister Sardar Awais Ahmad Khan Laghari wrote a letter to Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur asking for time for a meeting.
Sardar Awais Ahmad Khan Laghari, while confirming the letter, said that he has sought a meeting with the Chief Minister of Khyber Pakhtunkhwa Ali Amin on measures to stop electricity theft.
The Federal Minister of Energy wrote in the letter that the police should be provided with assistance to prevent electricity theft in Khyber Pakhtunkhwa. With the help of the police, the campaign against electricity theft in Khyber Pakhtunkhwa can be made successful. He requested to take personal interest in the cooperation of the police. Peshawar Electric Supply Company (PESCO) and Tribal Areas Electric Supply Company (TESCO) operating in KP are among the worst performing discos.
Awais Ahmad Khan further wrote in the letter that the losses of PESCO and TESCO for the current financial year have been estimated at 188 billion rupees. Dependent on the cooperation of provincial governments, the losses have raised questions about the sustainability of the power sector.
The federal minister added that there is a challenge of weak government enforcement in the areas under the management of TESCO. As a possible solution, the provincial government should prepare a comprehensive plan for recovery in the TESCO areas. Another possible solution is for the provincial government to take over the power supply in TESCO areas.
Pakistan
Jinnah House attack case: Interim bails of Imran’s sisters extended
The court ordered the interim bail of 34 accused, including the sisters of PTI founder, to be extended till May 21.
Lahore: The interim bails of 34 accused, including the sisters of Pakistan Tehreek-e-Insaf (PTI) founder Aleema Khan and Uzma Khan in the Jinnah House attack case have been extended.
Anti-Terrorism Court (ATC) in Lahore Saturday heard the interim bail applications of 34 accused, including Imran Khan’s sisters.
Arshad Javed, the duty judge of the ATC, heard the bail applications during which Aleema and Uzma appeared before the court after the interim bail expired.
The court ordered the interim bail of 34 accused, including the sisters of PTI founder, to be extended till May 21 while asking the investigating officer to submit a complete investigation report on the next hearing.
Business
IMF’s schedule till April 29 excludes Pakistan's economic review
Pakistan has also requested to send a review mission of the IMF to Pakistan in the next month of May to decide the details of the bailout package for the next three years.
Washington: The International Monetary Fund (IMF) has released the meeting schedule till April 29, which does not include Pakistan's economic review.
According to the details, Pakistan has also made a formal request to the IMF for the next bailout package of six to eight billion dollars.
Apart from this, Pakistan has also requested to send a review mission of the IMF to Pakistan in the next month of May so that the details of the bailout package for the next three years can be decided.
The Executive Board of IMF has released the meeting schedule till April 29, which does not include Pakistan's economic review, while the staff level agreement between Pakistan and IMF was reached on March 20 last month.
With the approval of IMF Executive Board, Pakistan will receive the final tranche of 1.1 billion dollars after which the standby arrangement of $3 billion will end.
It is pertinent to note that a day ago, the IMF had emphasized that prioritizing reforms to revive the Pakistani economy is more important than getting a new loan package.
The IMF official's comment came after Finance Minister Muhammad Aurangzeb's recent announcement that Pakistan was pursuing a significant and expanded loan package with the IMF.
Pakistan's proposed 24th three-year package with the fiscal fund, if approved, could amount to between $6 billion and $8 billion, which would be the country's largest debt ever.
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