Tag Archives: Circular Debt

Government Withdraws Energy Subsidies In a bold move, the government has announced the withdrawal of all subsidies on electricity and gas. This applies to federal and provincial subsidies and is a part of efforts to address the ongoing circular debt crisis in Pakistan’s energy sector. The International Monetary Fund (IMF) has been informed about the new measures aimed at stabilizing …

Pakistan State Oil (PSO) Records Impressive Earnings in FY24 The marketing and sales of imported liquefied natural gas (LNG) in Pakistan have turned into a highly profitable venture after the government passed on rising international gas prices to local consumers. This move has enabled state-owned energy companies to avoid further accumulation of circular debt, reduce their reliance on bank borrowing, …

Energy Minister Awais Leghari announced significant reforms aimed at modernizing Pakistan’s energy sector, including the operationalization of an energy exchange platform. This move is designed to allow power plants to sell electricity directly to buyers, potentially reducing reliance on the national grid and addressing current challenges like high electricity prices and extensive circular debt. Speaking to the Senate Standing Committee …