PM orders Rs 25b for PSO, IPPs to cut down outages


Prime Minister Yousaf Raza Gilani on Friday directed the ministries of Finance as well as Water and Power to pay Rs 25 billion to the Pakistan State Oil (PSO) as well as independent power producers (IPPs) by September 15, enabling them to generate electricity to ensure minimum load shedding during Eid holidays.
Chairing a meeting of the high-powered committee on energy scarcity, the prime minister directed the members to immediately resolve the issue of circular debt which was a major hurdle in the electricity generation by IPPs. Finance Minister Hafeez Shaikh, who is the chairman of the committee, Water and Power Minister Naveed Qamar and State Bank Acting Governor Yaseen Anwar were also present. The finance minister informed the meeting that the committee would submit its recommendations to the cabinet next month, the implementation of which would address unscheduled load shedding to a great extent. Separately, Gilani said Pakistan would continue to cooperate with Muslim countries as it was looking to improve mutually beneficial relations with them APP report.
Addressing an Iftar dinner hosted by him for Islamabad-based ambassadors and diplomats of Islamic countries, the prime minister said relations with Muslim countries had remained a cornerstone of Pakistan’s foreign policy and the country had supported various Muslim states in their struggle against colonial rule and right to self-determination. “We are proud of our friendship with our brothers in the Gulf. We have forged close political ties, strengthened trade and economic relations and have developed multifaceted relationships with these countries,” he said.