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Experts have warned of an impending energy crisis since 2006. [33] Speaking at a Seminar 'Fueling the Future: Meeting Pakistan's Energy Needs in the 21st Century' held in Washington, D.C. in June 2006 then energy adviser to the prime minister of Pakistan Mukhtar Ahmed stated that the country was taking steps to address the energy shortage. [34]
Situation in Pakistan remains chaotic after the 2024 election, and economic data shows that Pakistan's economic crisis will continue. According to the Pakistan Bureau of Statistics, the inflation rate stood at more than 29% in January. Pakistan also has to manage roughly $30 billion in annual external debt obligations, as its foreign currency ...
23 January – A major power outage in Pakistan leaves nearly 220 million people without electricity after a failure at the national power grid. Earlier this month, Shehbaz Sharif had ordered a reduction of energy consumption as the country faces a severe energy crisis. [17]
In Pakistan, circular debt is a public debt which is a cascade of unpaid government subsidies, [1] which results in accumulation of debt on distribution companies.When this happens, the distribution companies cannot pay independent power producers who in turn, are unable to pay fuel-providing companies thus creating the debt effect as seen in the country.
In 2019, Alternative and Renewable Energy policy was introduced to promote renewable energy in the country and reduce carbon footprint and greenhouse gas emissions. The policy aims to increase share of green energy to 20% by 2025 and 30% by 2030. As of 2022, only 3% of energy sources in Pakistan are renewables.
The energy sector indeed stands out in terms of valuation. According to Finviz , energy has the lowest price to earnings (P/E) ratio and the lowest forward P/E ratio among the 11 sectors of the S ...
The 2024 Azad Kashmir protests were a series of six day long protests, sit-ins, shutter-downs, demonstrations and wheel-jam strikes starting on 8 May against the Federal Government of Pakistan and the Government of Azad Kashmir, calling for lower prices for wheat, flour, and electricity, in addition to other demands.
In 2013, it was declared in the Senate of Pakistan, that Pakistan had lost Rs90 billion (equivalent to ₨149.1 billion in 2021) in the last 5 years to electricity theft and line losses. [ 4 ] [ 5 ] [ 6 ]