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Power sector receivables have touched about Rs 590 billion due to extremely poor performance of the top brass of Water and Power Ministry and Distribution Companies (Discos). The Ministry of Water and Power is run by two ministers (federal minister and minister of state) and a host of officials from Pakistan Administrative Service (PAS) - former District Management Group (DMG) - whereas Discos are headed by officers who are on 'look after' charge or contract.

Power Distribution Companies (Discos) are reportedly collecting surcharge from consumers in grave violation of Lahore High Court (LHC) orders. On December 13, 2014, a division bench of LHC suspended notifications of imposing Debt Servicing Surcharge, Universal Obligation Fund Surcharge, Neelum-Jhelum Surcharge and Equalisation Surcharge levied in the electricity bills till January 13. The petitioners, a cement company and others, contended that the said surcharges are being imposed after tariff determination by Nepra.
ImageOn the directions of Prime Minister Implementation Committee for National Plan of Action on Counter Terrorism, the Securities and Exchange Commission of Pakistan (SECP) has decided to re-validate/renew all the licences issued to 'Not for Profit Associations' to make it crystal clear that the entities are not engaged or linked to any terror financing activities. The SECP has implemented the decision of the Prime Minister Committee for National Plan of Action on Counter Terrorism here Friday through a Circular 2 of 2015.
Ministry for Petroleum has reportedly said that around 2,600MW electricity is expected to be added to the system by April 15, 2015 through allocation of gas and on-site power projects. Sources quoted Minister for Petroleum Shahid Khaqan Abbassi as claiming that 300MW would be added to the system through 325MMCFD RLNG allocations, and 1,000MW by on-site power on raw gas as well as 1,300MW through short-term power LNG/DOM.
National Electric Power Regulatory Authority (Nepra) in its annual report 2013- 14 has said that power sector is marred by circular debt, expensive energy mix, inefficient power plants, high transmission and distribution losses and bad management. Habib Ullah Khilji, Vice Chairman, in his observations said that failure to provide adequate gas to the power sector has resulted in a huge idle and unutilised gas-based capacity which adds to the cost of power.
Gas prices may increase by 20 percent if the government supports Oil and Gas Regularity Authority's (Ogra) recommendations, a senior official of Petroleum Ministry revealed to Business Recorder. The government's refusal to implement Ogra recommendations dated July 3, 2014 for an increase in gas tariff for end consumers of Sui-Northern Gas Pipelines Limited (SNGPL) and Sui-Southern Gas Company Limited (SSGCL) have led to huge financial losses, informed sources further revealed.
Prime Minister Nawaz Sharif has announced a reduction of Rs 6.25 per liter in petrol prices but acknowledged that full impact has not been passed on to the public to make up for Rs 17 billion revenue loss in total. Addressing a news conference here on Wednesday, he said that 5 per cent additional General Sale Tax (GST) has been imposed on petrol prices due to revenue loss of Rs 68 billion.
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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln