The federal Minister for Economic Affairs, Omar Ayub Khan, said that Pakistan has successfully completed six actions to reduce the circular debt flow by decreasing power generation costs, decarbonizing the energy mix, improving efficiency, and retargeting electricity subsidies under the Program for Affordable & Clean Energy.
He tweeted his appreciation for the World Bank’s disbursement of $397 million under the Program for Affordable & Clean Energy (PACE-I).
Minister Khan said that the government’s efforts for economic reforms are being recognized by international financial institutions and the international community.
He stated, “Pak successfully completed 6 actions to reduce circular debt flow through reducing power generation costs, decarbonizing energy mix, improving efficiency and retargeting electricity subsidies under PACE”.
This inflow will also help to strengthen the forex reserves and the exchange rate.
Minister Khan added that the World Bank had disbursed the budgetary support loan of US$ 397 million last night. Given the current exchange rate position, it will help to stabilize the exchange rate, and the Pakistani Rupee against the US Dollar in particular.
