The current government’s efforts have led to a substantial reduction in the cross-subsidy burden, which has decreased to Rs. 102 billion from Rs. 225 billion. According to the Power Division, the cross-subsidy burden has been reduced to Rs. 4.02 per unit from Rs. 8.90, with the burden being shifted from one sector to another to subsidize the electricity prices for one sector.
The government has taken several measures to reduce the burden on the power sector, including the closure of non-functional power plants and successful negotiations with IPPs. These efforts have led to a reduction in electricity prices, with the cost per unit dropping to Rs. 42.27 from Rs. 53.04.
The government has also introduced a package of Rs. 22.98 per unit for an additional three years for electricity consumption. Additionally, the government is working to eliminate the circular debt, which will provide relief of Rs. 3.23 per unit to consumers.
The number of protected consumers has increased to 22 million, with the sector facing additional burden due to this increase. The government is taking steps to address the issues of officers, including providing them with modern facilities and resolving their promotion issues.
Meanwhile, the Met Office has forecast a dry and chilly weather in Karachi for the next 24 hours, with a possibility of frost in the night. The police have arrested a dacoit who was trying to flee with a citizen’s new motorbike.
The previous Finance Minister Miftah Ismail said that the global oil prices are at their lowest level in four years, but the country’s economy is not showing any signs of growth. The Federal Minister Senator Musadik Malik said that the government is receiving a 12% interest rate on a dollar loan, which is lower than the 50 people who were given a zero-interest loan of $4 billion in the previous era.
The Prime Minister Shehbaz Sharif received a phone call from the Emir of Qatar Sheikh Tamim bin Hamad Al Thani. The Prime Minister and his cabinet were briefed on the design of the new currency notes by the State Bank of Pakistan.
In a separate incident, 2 million kilograms of wheat went missing from a godown of the Pakistan Agricultural Storage and Services Corporation (PASSCO) in Faisalabad. The government has decided to restore healthcare cards for the residents of Azad Jammu and Kashmir under a new formula.
The security forces have vowed to eliminate terrorism completely, with the Prime Minister Shehbaz Sharif announcing that the deadline for the implementation of the M-tag system on vehicles in Islamabad will expire tomorrow. The Khyber Pakhtunkhwa Assembly has passed a resolution on constitutional amendments related to local bodies.
In a tragic incident, a 16-year-old girl’s dead body was found in the Khairpur Tamiwali area of Bahawalpur, and the alleged perpetrator was killed in a shootout. The Foreign Office spokesperson said that the allegations of terrorism by India are a made-up story for political purposes.
The Foreign Office spokesperson also expressed hope that Iran will maintain peace and stability. The organizers of the Pakistan Super League (PSL) have been criticized for not providing financial assistance to the players who boycotted the tournament in protest of the Bangladesh World Cup boycott.
Pakistan’s renowned news anchor Iqrar Ul Hassan has left his post at PTV, and the radio Pakistan after a long career. The US official has said that there will be an increase in the sale of Venezuela’s oil in the coming days and weeks. The British authorities have warned that the situation in Iran is deteriorating rapidly, posing risks to diplomatic staff and advising their citizens against traveling to the country.
