ISLAMABAD: Caretaker Power Minister Muhammad Ali has announced that the plan of the government to provide relief to electricity consumers has been sent to the International Monetary Fund (IMF) for approval, and they expect a response from the IMF within a “day or two.” He made this statement during a press conference following the Special Investment Facilitation Council’s (SIFC) Apex Committee meeting.
During the press conference, Minister Ali discussed various aspects of the energy sector, including electricity bills, gas availability, and the potential transfer of electricity distribution companies (DISCOs) to the provinces. He mentioned the possibility of making DISCO boards “non-political” and emphasized the need for LNG terminals to address natural gas shortages, particularly during the winter.
Ali highlighted the importance of ensuring that industries do not face closures due to a lack of gas during the winter months. He mentioned that the Ministry of Power is actively working on these plans and noted that a review of gas prices may be necessary as well.
Interim Government Gears Up for Privatization Drive to Boost Economy
Meanwhile, Information Minister Murtaza Solangi has announced that the interim government in Pakistan has received the authorization to initiate the privatization of state-owned enterprises and power distribution companies as a crucial step in their mission to revitalize the country’s struggling economy. He made this announcement during a press conference following a meeting of Pakistan’s Special Investment Facilitation Council (SIFC) in Islamabad.
In response to a query about the caretaker government’s ability to implement policy interventions for privatization, Solangi asserted, “We can do this, and our legal opinion is the same, and we will do it.”
The SIFC meeting aimed to focus on improving Pakistan’s overall business and investment environment, which is crucial for the country’s economic revival. Caretaker Prime Minister Anwaarul Haq Kakar chaired the meeting, and high-ranking officials, including Chief of Army Staff General Asim Munir, members of the federal cabinet, and provincial chief ministers, attended it.
During the meeting, the committee discussed various short-term, medium-term, and long-term measures aimed at achieving positive outcomes. The committee approved practical steps to implement as soon as possible.
Caretaker Prime Minister Kakar emphasized the need for ministries to deliver optimal results, regardless of the limited time available to the interim government. He also highlighted the importance of laying a strong foundation for the future government.
The meeting’s agenda included discussions on boosting investment in sectors such as information technology, mining, and agriculture. Additionally, the forum addressed issues related to government expenditure reduction, the circular debt, privatization schedules for state-owned enterprises that are not beneficial, and efforts to combat the smuggling of food items, petroleum, and foreign exchange.
