Economic policy
February 21, 2021
Economic policy is four actions that governments take in the economic field: tax, government spending, interest rates and money supply. Our national debt is now growing at the rate of Rs18 billion a day. Our electricity sector now loses nearly Rs2 billion a day. Our State Owned Enterprises (SOEs) collectively end up losing Rs1.8 trillion a year. In the natural gas sector, unaccounted-for-gas now amounts to Rs1 billion a day. In the commodities sector, federal and provincial food departments have accumulated a debt of Rs753 billion. Public procurements by the federal and provincial governments stand at Rs7.5 trillion.
Power sector in new crisis
Influential lobby places members on board of distribution firms against merit
PHOTO: EXPRESS
LAHORE:
The power sector of Pakistan is being pushed towards a new crisis by an influential lobby that has mobilised the federation to pave way for privatisation of power distribution companies including Lahore Electric Supply Corporation (Lesco), Faisalabad Electric Supply Company (Fesco) and Islamabad Electric Supply Company (Iesco).
The lobby has successfully promoted its own chosen members on the board of directors of distribution companies against the merit. The Independent Power Producers (IPPs) and foreign investors have expressed interest to buy power distribution companies, which have assets worth billions of dollars.
Top Story
January 20, 2021
ISLAMABAD: Prime Minister Imran Khan told the federal cabinet Tuesday Pakistan was the first country to take into account the negative effects of the coronavirus lockdown and make timely decisions, while pandemic in India increased poverty.
He particularly appreciated the timely and transparent initiatives of the National Command Operation Center (NCOC), Ehsaas and the finance ministry team. The cabinet was briefed on the issue of Broadsheet, and the ministerial committee recommendations were presented in the meeting.
The planning minister briefed the cabinet on the impact of coronavirus pandemic on the basis of a recent survey, conducted by the Federal Bureau of Statistics. It said that the income of about 20 million people had almost waned in April; thanks to the wise strategy of the government, the policy of smart lockdown, instead of complete lockdown and decision making in the construction and manufacturing sector, the income of 20 million people
Top Story
January 20, 2021
ISLAMABAD: Prime Minister Imran Khan told the federal cabinet Tuesday Pakistan was the first country to take into account the negative effects of the coronavirus lockdown and make timely decisions, while pandemic in India increased poverty.
He particularly appreciated the timely and transparent initiatives of the National Command Operation Center (NCOC), Ehsaas and the finance ministry team.
The cabinet was briefed on the issue of Broadsheet, and the ministerial committee recommendations were presented in the meeting.
The planning minister briefed the cabinet on the impact of coronavirus pandemic on the basis of a recent survey, conducted by the Federal Bureau of Statistics. It said that the income of about 20 million people had almost waned in April; thanks to the wise strategy of the government, the policy of smart lockdown, instead of complete lockdown and decision making in the construction and manufacturing sector, the income of 20 million people
The recent retrenchment, sacking and removal of about 9,350 employees of the Pakistan Steel Mills Corporation (Pvt) Ltd landed in the Supreme Court on Tuesday. Photo courtesy SC website/File
ISLAMABAD: The recent retrenchment, sacking and removal of about 9,350 employees of the Pakistan Steel Mills Corporation (Pvt) Ltd landed in the Supreme Court on Tuesday when its workers’ union urged the court to declare the terminations illegal.
The petition, instituted by senior counsel Rasheed A. Razvi on behalf of the Pakistan Steel Peoples Workers’ Union, requested the apex court to strike down these sackings after declaring the same a violation of the fundamental rights of workers.