The 969-megawatt Neelum-Jhelum Hydropower Project (NJHP), completed at an estimated approved cost of more than Rs510 billion, has been partially closed once again within days of its full capacity utilisation after almost 20-month-long repair works. The project was closed in July 2022 due to major cracks in its 3.5km tailrace tunnel (TRT), which was repaired over the next 13 months. Power gener
The spring meetings of the International Monetary Fund and the World Bank are due to open on Tuesday, with two clear objectives: help countries combat climate change and assist the most indebted nations. The meetings — which will bring central bankers, finance and development ministers, academics, and representatives from the private sector and civil society together to discuss the state of the
Despite mounting optimism for increased inflows and a new IMF bailout package, the US dollar strengthened in the inter-bank market while the State Bank’s reserves saw a slight decline. A financial team led by Finance Minister Muhammad Aurangzeb is currently in Washington seeking another loan package from the International Monetary Fund. Despite the minister’s hopeful outlook before departing
Prime Minister Shehbaz Sharif on Monday directed authorities concerned for robust renewable energy management to cut the country’s $27 billion oil import bill and improve the country’s existing electricity distribution system. “Ultimately, we have to move to renewable energy. The oil import worth billions of dollars can be controlled by using alternative resources like solar, wind and hydel. Ma
Finance Minister Muhammad Aurangzeb said on Monday that Pakistan doesn’t need too many policy prescriptions, it just needs to implement those policies. Speaking at the Atlantic Council think tank on his first working day in Washington, the minister also urged institutions such as the World Bank and International Monetary Fund (IMF) to help countries like Pakistan deal with the effects of climat