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Pakistan receives $1.3b tranche from IMF: SBP

[ SBP says IMF Executive Board has also approved disbursement of second tranche of SDR 154 million under RSF The government wants to accelerate economic growth to lower rising poverty and unemployment, but the IMF was of the view that Pakistan has not yet reached a stage where it can afford sustainably higher economic growth. … Read more

Tariff woes force closure of industries

[ ISLAMABAD: Industry representatives have urged the power-sector regulator to end uncertainty about K-Electric’s (KE) adjustment claims as industrial units in Karachi are either shutting down or shifting out of the city. The warning came at a public hearing conducted on Tuesday by the National Electric Power Regulatory Authority (Nepra) on end-of-term adjustments for KE’s … Read more

No new imported fuel-based IPPs

[ LAHORE: Federal Minister for Energy (Power Division) Awais Ahmed Khan Leghari on Tuesday announced that no new imported fuel-based Independent Power Producers (IPPs) would be established in the country, while the government plans to shift 10 million electricity consumers to Advanced Metering Infrastructure (AMI) meters during the current year. Addressing a workshop on power-sector … Read more

Iran, Taiwan to dominate Trump-Xi talks

BEIJING/WASHINGTON: Beijing said on Monday it was ready to work with the United States in pursuit of “more stability” and confirmed that Donald Trump will visit China this week, the first US president to do so since 2017.Top trade negotiators from both countries will meet in Seoul a day before Trump’s summit with Chinese leader … Read more