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Articles for tag: 659.6bn, debt, finalizes, Minister, Pakistan, Power, record, sector, Settlement

December 11, 2025

News Desk

Pakistan finalizes record Rs 659.6bn power sector debt settlement, says minister

An electricity transmission tower is seen a day after a nationwide power outage in Karachi on January 24, 2023. — Reuters The Deal promotes cyclical debt cuts as part of the government’s reform plan. Analysts say the move boosts energy liquidity and investor confidence. The settlement aims to reduce the cyclical debt of the electricity sector. Islamabad: Pakistan has completed a landmark repayment of Rs 659.6 billion of liabilities of Power Holding Limited (PHL), the largest ever deal in the debt capital markets, Federal Minister for Power Sardar Awais Ahmed Khan Leghari announced on social media. The News reported on

October 18, 2025

News Desk

Pakistan finalizes sale of First Women Bank to UAE company

Prime Minister Shehbaz Sharif, Marshal Syed Asim Munir and federal ministers witness the signing ceremony of the majority stake sale of First Women Bank to a UAE company on October 17, 2025. — PID The prime minister says the privatization of FWBL is a milestone in strengthening the UAE’s trade ties. Premier says the deal marks the start of a promising partnership. Prime Minister renews resolve to open new doors for private sector-led growth. Prime Minister Shehbaz Sharif on Friday hailed the privatization of First Women Bank Limited (FWBL) as “the first raindrop” in Pakistan’s new privatization drive, calling it

December 15, 2024

News Desk

Government finalizes talks with 14 IPPs to reduce power costs

Electricity transmission towers are pictured in Karachi on July 26, 2022. — Reuters NTDC issues merit order for talks with IPPs operating in expensive fuel. Halmore Power produces electricity at an impressive level Rs 61.23 per kWh. Uch has the lowest generation cost at Rs 3.11 per kWh through natural gas. ISLAMABAD: The government has successfully concluded negotiations with 14 independent power producers (IPPs) based on residual furnace oil (RFO) on take and pay terms, The News reported on Sunday. This development comes in the wake of Prime Minister Shehbaz Sharif’s announcement of phasing out outdated power plants across the

December 16, 2023

News Desk

PCB ‘finalizes’ venues, schedule for PSL 9

Fireworks go off at Gaddafi Stadium after Lahore Qalandars win PSL 8. — PCB/File As time ticks towards the much-awaited and exciting season 9 of the Pakistan Super League (PSL), the Pakistan Cricket Board (PCB) has finalized the dates and venues for the league, well-placed sources said. The sources familiar with the matter said that the championship will be held from February 17 to March 17, 2024, in four cities: Karachi, Lahore, Rawalpindi and Multan. The final will be held in Karachi. Concerns have been raised about ground attendance in Karachi during the double-headers, as the singles matches do not

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