The Scoop Watch

The Scoop Watch We look at the bigger picture and beyond as Pakistan’s economy and politics become more complicated.

20/08/2025

Ahead of Prime Minister Shehbaz Sharif’s anticipated visit to China, the issue of Late Payment Surcharges (LPS) remains unresolved, as Chinese Independent Power Producers (IPPs) refuse to waive the surcharges or the outstanding amount required for the clearance of circular debt, The News reported, citing sources.

The outstanding balance owed to Chinese IPPs stands at Rs423 billion. Of the total Rs5.48 trillion billed to IPPs under the China-Pakistan Economic Corridor (CPEC) over the past nine years, Rs5.06 trillion has been paid. The top debts include Rs87 billion to Huaneng Shandong Ruyi, Rs85 billion to Port Qasim Electric Power, and Rs70.4 billion to China Power Hub Generation.

The International Monetary Fund (IMF) has yet to endorse the procedural details for addressing the Rs1,257 billion circular debt, a deal the Government of Pakistan struck with commercial banks. Despite the agreement, the transaction has not yet been finalised.

According to the news report, the Development Finance Corporation (DFC) and the IPPs have refused to forgo the late payment interest, which is complicating efforts to reduce tariffs. The government is still negotiating with more IPPs, but it remains unclear how much these discussions will contribute to further tariff reductions.

As PM Shehbaz Sharif prepares for his visit to China, the issue of outstanding amounts from Chinese IPPs has emerged as a significant challenge. The Pakistani government aims to resolve this issue before proceeding with other plans.

The Chinese IPPs are holding firm on the LPS issue, which may require the Ministry of Power to seek approval for interest payments alongside the circular debt amount. The Central Power Purchasing Agency (CPPA) is finalising the deal, and once completed, Rs1,257 billion will be disbursed within 15 days.

Officials from the Ministry of Finance and the Ministry of Power stated that all arrangements are in place, with the deal expected to be finalised soon, despite recent disruptions due to flash floods. The deal is set to be concluded at a rate of KIBOR minus 0.9%, bringing the rate to approximately 10.1%.

The Lahore Board of Intermediate and Secondary Education (BISE) has announced the 9th class results, revealing a shockin...
20/08/2025

The Lahore Board of Intermediate and Secondary Education (BISE) has announced the 9th class results, revealing a shocking 55% failure rate.

Out of 308,000 students, 169,000 could not clear the exams, with boys performing significantly worse than girls.

Alarming failure rate in 9th class results
According to official figures, only 45% of students managed to pass the exams this year. The overall failure rate stood at 65% for boys and 47% for girls, showing a clear gender gap in academic performance.

Despite heavy urban floods in Karachi, the Pakistan Stock Exchange (PSX) witnessed continued bullish momentum on Wednesd...
20/08/2025

Despite heavy urban floods in Karachi, the Pakistan Stock Exchange (PSX) witnessed continued bullish momentum on Wednesday, as the benchmark KSE-100 Index surged to a new all-time high, closing at 150,591.00 points, up 820.26 points or 0.55%. This marks another record-setting session for the market, with the index reaching an intraday high of 151,261.67.

Investor sentiment was driven by earnings optimism, stability in the Pakistani rupee, and strong institutional activity from both local and foreign investors. Key sectors, including banking, pharmaceuticals, and cement, witnessed positive activity, contributing to the KSE-100’s overall gains.

A notable development contributing to the market’s positive momentum was Moody’s recent upgrade of the long-term ratings for five of Pakistan’s major banks, including Allied Bank Limited, Habib Bank Ltd, MCB Bank Limited, National Bank of Pakistan, and United Bank Ltd. The rating upgrade was part of Moody’s decision to elevate Pakistan’s overall credit outlook, citing improved external conditions and progress under the IMF Extended Fund Facility program.

Market analysts have attributed the continued rise to improving macroeconomic conditions and stronger investor confidence.

Pakistan’s telecommunication sector has long been a competitive and rapidly evolving industry, where consumer protection...
20/08/2025

Pakistan’s telecommunication sector has long been a competitive and rapidly evolving industry, where consumer protection has remained critical. However, an audit report, by the Auditor General Pakistan (AGP), released this week has cast a dark shadow over the largest player in the market, Jazz, revealing how the telecom giant overcharged its subscribers by an alarming Rs6.58 billion during the fiscal year 2023-24.

This hefty sum was collected by Jazz, despite its billing practices clearly violating the tariffs approved by the Pakistan Telecommunication Authority (PTA). What’s more concerning is the lack of effective oversight by PTA, which, despite being the regulatory body, failed to prevent the overcharging, leaving millions of consumers at the mercy of an unchecked pricing system. This development raises significant questions not just about the practices of Jazz but about the functioning of Pakistan’s telecom industry as a whole.

According to the report, Jazz’s billing practices violated the Pakistan Telecommunication (Re-Organization) Act, 1996, and the Telecom Consumer Protection Regulations, 2009, which require operators to charge only the rates that have been formally approved by PTA.

“Audit observed that Jazz overcharged its customers above the rates approved by the Authority,” said a copy of the available Audit Report on the accounts of public sector organisations (Telecommunication Sector) for the Audit Year 2024-25.

A comparative analysis of selected weekly and monthly packages showed that Jazz charged higher-than-approved rates across multiple bundles, extracting a total of Rs 6.583 billion in excess payments from consumers during the year.

For instance, the operator charged Rs1,043 for its “Monthly Super Duper” package against the approved rate of Rs955, and Rs1,739 for the “Monthly Freedom” package instead of Rs1,652. In some cases, such as the “Monthly YouTube & Social Offer,” consumers were billed Rs 434 against an approved rate of Rs 348, resulting in overcharging worth over Rs 2.12 billion on that package alone.

20/08/2025

Heartbreaking Scene in Karachi: Woman, Child Fall Off Bike Amid Flood Chaos

20/08/2025

CM Punjab Maryam Nawaz Hails Pakistani Diaspora in Japan.

20/08/2025

leaders praise US president for ending the deadlock in the peace talk with

20/08/2025

White House press secretary Karoline Leavitt on Tuesday said that US President Donald Trump has imposed sanctions on India to bring an end to the Russia-Ukraine war.

20/08/2025

A huge fireball dashed across the skies of western Japan, shocking residents and dazzling stargazers, though experts said it was a natural phenomenon and not an alien invasion.

Videos and photos emerged online of the extremely bright ball of light visible for hundreds of miles shortly after 11.00pm local time (1400 BST) on Tuesday.

20/08/2025

floods: Roads submerged, vehicles drowned, life comes to standstill.

20/08/2025

Floods: City roads resemble flowing rivers.

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