Latest news with #GovernmentofPakistan
Express Tribune
a day ago
- Business
- Express Tribune
Cabinet okays 15% hike in EOBI pensions
Listen to article Federal cabinet has approved a 15% increase in pensions provided by the Employees' Old-Age Benefits Institution (EOBI), effective from January 1, 2025, on the recommendation of the Ministry of Overseas Pakistanis and Human Resource Development. The pension increase will be funded through the institution's own resources, ensuring no additional burden on the national budget. The decision was made during a federal cabinet meeting chaired by Prime Minister Shehbaz Sharif on Wednesday. The meeting focused on various socio-economic reforms, including pension schemes and healthcare benefits. براہِ راست: وزیرِاعظم محمد شہباز شریف کا وفاقی کابینہ کے اجلاس سے خطاب — Government of Pakistan (@GovtofPakistan) July 16, 2025 The prime minister directed the formation of a cabinet committee to implement institutional reforms in the EOBI. The committee will also consider proposals to extend old-age benefits to informal workers, including domestic staff, agricultural labourers, and other marginalised workers who have historically been excluded from such schemes. These reforms aim to ensure that workers in these neglected sectors receive their due rights. Additionally, the cabinet approved the initiation of legal procedures for the Sea Carriage Shipping Documents Bill, 2025, as recommended by the Ministry of Maritime Affairs. The cabinet also agreed to extend the exemption on the import of anti-cancer, cardiac, and life-saving drugs for five more years. This extension, proposed by the Ministry of National Health Services, aims to ensure that these critical medicines remain available in hospitals and authorised institutions, though they will not be sold on the open market. The import of these medicines will now require prior approval from the relevant licensing authority. Prime Minister Muhammad Shehbaz Sharif chairs the Federal Cabinet Meeting — Government of Pakistan (@GovtofPakistan) July 16, 2025 In his address, Prime Minister Shehbaz commended the efforts of provincial governments, the federal administration, and authorities in Azad Jammu and Kashmir (AJK) and Gilgit-Baltistan (G-B) for their arrangements during Muharram. He also praised law enforcement agencies for maintaining law and order during religious observances. The prime minister acknowledged the need for disaster preparedness, especially during the ongoing monsoon season. He reported on a high-level meeting with the National Disaster Management Authority (NDMA) and Provincial Disaster Management Authorities (PDMAs) to strengthen arrangements for dealing with heavy rains. Read More: Hike in EOBI pensions from May 1 PM Shehbaz also expressed his condolences over the recent loss of lives due to rainfall in various parts of the country, particularly the tragic incident in Swat. He called it an 'unfortunate incident' and stressed the importance of implementing preventive measures to avoid similar tragedies in the future. On the economic front, the prime minister expressed satisfaction with recent positive trends in macroeconomic indicators, underlining his government's commitment to improving service delivery and holding ministries accountable for performance. He said, 'This message I want to make loud and clear – it is all about delivery and service to the nation.' He added that ministries performing well will be recognised, while those falling short will be asked to explain their failures. The prime minister also praised the Federal Minister for Planning, Ahsan Iqbal, for his ministry's efficient use of development funds, highlighting that the development spending had surpassed Rs1 trillion under the Public Sector Development Programme (PSDP).
Business Recorder
2 days ago
- Business
- Business Recorder
KE's two-decade journey: a privatisation that delivered—II
When discussing KE's generation portfolio, it's important to recognize that both private and public sector utilities operate within a regulated environment. Any investment in generation requires NEPRA's approval and must align with the Government of Pakistan's energy policies. In recent years, KE has been advised to off-take power from the national grid due to surplus available in the national grid —leading to the abandonment of KE's several planned power plants including the 700MW coal project. Ironically, the same critics who urge KE to tap into central capacity often also call for greater self-generation by individual consumers, without acknowledging the inherent contradiction in these demands. KE's two-decade journey: a privatisation that delivered—I Misunderstandings further persist and KE's write-offs for unrecoverable bills often draw headlines about 'double benefits.' Yet the mechanism is neither novel nor opaque: regulated utilities the world over recognise prudent costs after exhaustive audits. Any recoveries that later materialise are netted off in future filings. Similarly, in the case of alleged claw-back amounts that are currently before the court, KE disputes only the interpretation, not the formula nor the principle, and will comply with whatever the honorable court decides. On matters of safety, it is important to clear facts. For FY2023, Nepra investigated 33 electrocution-related incidents in KE's jurisdiction. What critics easily ignore is the fact that in 32 of these, the authority found no negligence on KE's part. Many of these incidents occurred within consumer premises or involved third-party encroachments, underscoring the shared nature of safety responsibility in dense, urban environments, most of which is outside KE's purview. Talking about captive plants and RLNG imports, one must ask: where were these critics when the entire country had to rely on costlier fuel because of captive preference? Every power plant must be backed by a secure fuel supply, and in the absence of local gas, KE did what was necessary to keep the city running. Now when the ministry has instructed captive to move back on the grid, concerns have been raised about KE charging a 'hefty fee' to convert captive plants to grid supply. It's important to understand that these costs are not arbitrary charges but are aligned with NEPRA-approved regulations and technical requirements. When a captive generation facility transitions to grid supply, it often requires dedicated infrastructure; new metering, protection systems, reinforcement of the nearest grid point and in fact a new grid to be set up in some cases; all of which involve material costs. These investments are necessary to ensure grid stability, safety, and quality of supply for both the industry and surrounding consumers. Moreover, KE does not profit from these charges. They are calculated based on actual technical scope and verified through internal and third-party checks. Where complaints have been raised, KE has reviewed them and wherever required, streamlined the process, reduced costs through engineering alternatives, or offered installment-based facilitation. It's also worth noting that as fuel prices for captive plants have increased, many industries are now returning to grid power voluntarily, recognizing that stable, merit-order-based electricity is both more economical and less administratively burdensome in the long run. What often gets overlooked in these debates is that privatization alone is not reform. The government may have privatized one utility, but it has not yet deregulated the power sector. True transformation will only come when the entire ecosystem — generation, transmission, and distribution — is opened up to competition under a non-exclusive licensing regime. Until then, companies like KE are expected to deliver world-class service while operating in a regulated environment. The push for CTBCM and market liberalization is the right direction, but it needs acceleration. The real innovation lies not in hardware-heavy prescriptions from the 1980s, but in building service-driven utilities that operate like customer-centric platforms, capable of adapting to how people live and consume electricity today. That shift is already underway. From renewables and smart meters to apps like KE Live, the modern utility is no longer just a wire-and-pole provider—it's a digital service partner. Customers today need electricity that adapts to their lifestyle—whether it's battery backup during unconventional hours, or real-time usage insights delivered through mobile platforms. KE has already laid the groundwork with its digitized network, underground infrastructure, and 24/7 digital engagement channels. Globally, utilities are diversifying — delivering internet through fiber over power lines, offering flexible, time-based supply models, and using AI to manage load and service reliability. KE's model reflects that evolution. Encouragingly, the Power Division and the Special Investment Facilitation Council (SIFC), are actively driving reforms in this direction, and a future built around deregulation, customer choice, and smarter service is no longer a distant concept—it is within reach. And when it comes, K-Electric is ready—with the infrastructure, digital capability, and vision to thrive in a truly competitive, service-oriented power sector.—Concluded Copyright Business Recorder, 2025
Business Recorder
4 days ago
- Business
- Business Recorder
IESCO launches ‘Apna Meter Apni Reading' App
ISLAMABAD: The Chief Executive Officer of Islamabad Electric Supply Company (IESCO), Muhammad Naeem Jan, announced that as part of the Government of Pakistan and Ministry of Energy (Power Division)'s ongoing customer-friendly initiatives, a new advanced technology-based application—Apna Meter Apni Reading—has been launched. This smart power application allows electricity consumers to participate directly in the billing process. Copyright Business Recorder, 2025
Express Tribune
5 days ago
- Politics
- Express Tribune
President, PM reaffirm support on Kashmir Martyrs' Day
Listen to article President Asif Ali Zardari and Prime Minister Shehbaz Sharif on Sunday reiterated Pakistan's political, diplomatic and moral support for the Kashmiri people. In their separate messages on the occasion of Kashmir Martyrs' Day being observed today, they said the day serves as a reminder of the inherited resilience, resistance against brutal forces, and unwavering determination of Kashmiris for their freedom. President Zardari lauded the unwavering courage, determination, and sacrifices of the Kashmiri people, who have resisted Indian occupation for decades and continue their struggle for self-determination. 'I pay tribute to the 22 great Kashmiri martyrs who sacrificed their lives against oppression and barbarism and for the right to freedom, outside Srinagar Jail on July 13, 1931.' 'The great struggle that the Kashmiri people are carrying forward today is a continuation of the sacrifices of these 22 martyrs. The candle of freedom that their sacrifice lit in the hearts of the Kashmiri nation is still burning brightly today,' he added. President concluded his message saying India's "illegal occupation" of Kashmir had turned the region into a military prison, where "extrajudicial killings, enforced disappearances, political imprisonment, demographic changes, and systematic efforts to erase Muslim identity" were ongoing. Prime Minister Shehbaz, in his message, said the Kashmiris have been, and continue to, sacrifice their lives in pursuit of their legitimate struggle for the right to self-determination. 'Today, the Government of Pakistan reaffirms its commitment to the resolution of the Kashmir issue and the right of self-determination of Jammu and Kashmir in accordance with United Nations resolutions.' Meanwhile, Kashmiris on both sides of the Line of Control, as well as those residing in Pakistan and across the globe, are observing Kashmir Martyrs' Day to pay tribute to the martyrs of July 13, 1931, and all Kashmiris who have sacrificed their lives in the struggle for freedom. The observance of the day has been called by the All Parties Hurriyat Conference and is supported by all pro-freedom leaders and organisations. To honour the martyrs, rallies, seminars, and conferences are being held in Azad Jammu and Kashmir (AJK), Pakistan, and in major capitals around the world. In Muzaffarabad, the Kashmir Liberation Cell, in collaboration with the AJK chapter of the All Parties Hurriyat Conference, has organised a public gathering followed by a rally. Pasban-e-Hurriyat has also arranged a protest rally at Burhan Wani Shaheed Chowk. Additionally, a smartly turned-out police contingent will present a ceremonial salute at the Shuhada Monument to pay respect to the martyrs.
Business Recorder
5 days ago
- Politics
- Business Recorder
Pakistan to continue supporting people of Jammu & Kashmir: PM Shehbaz
Prime Minister Shehbaz Sharif said the government of Pakistan will continue to extend its political, diplomatic and moral support to the people of Jammu and Kashmir who are waging a struggle to gain their right to self-determination and freedom. In a message on the occasion of Kashmir Martyrs' Day observed on July 13, he said, 'Kashmir Martyrs' Day is observed every year to pay tribute to the 22 Kashmiris who sacrificed their lives on July 13, 1931, while protesting against the Dogra forces of Jammu and Kashmir.' He said, 'The day serves as a reminder of the inherent steadfastness, resistance against brutal forces and unwavering resolve of the Muslims of Kashmir. The struggle for freedom, human rights and Kashmiri rights has been going on throughout Kashmir's history.' President asks international community to take notice of HR abuses in IIOJ&K 'The Kashmiri people have been and are sacrificing their lives in their legitimate struggle for the right to self-determination,' he said, adding, 'The government of Pakistan expresses its political, diplomatic and moral support in solidarity with the Muslims of Jammu and Kashmir, which is illegally occupied by India.' He said, 'We salute the bravery and determination of all Kashmiri martyrs, who sacrificed their lives during decades of Indian occupation.' 'Today, the Government of Pakistan reaffirms its commitment to the resolution of the Kashmir issue and the right of self-determination of Jammu and Kashmir in accordance with United Nations resolutions,' he concluded.
