ISLAMABAD: One of Pakistan’s largest domestic cement producers, Lucky Cement, will set up a hybrid wind and solar power project under the Special Investment Facilitation Council (SIFC), state media said on Monday.
Private investment is low and declining in Pakistan, which has very low rates of private investment relative to regional and comparable countries, around one-third of the South Asia average, according to World Bank data released in 2023. Private investment declined from an average of 13.7 percent of GDP in the 2000s to around 10 percent in FY21.
The government set up the SIFC last year to attract foreign investment and also create better conditions and remove bottlenecks for domestic companies who have historically faced unfair competition from state-owned entities undertaking commercial operations and received little support when seeking to access new overseas markets.
“Special Investment Facilitation Council is supporting private companies for development of energy sector,” Radio Pakistan reported. “As part of these efforts, Lucky Cement has planned a hybrid wind and solar power project which will generate environment friendly electricity.”
In the past, Lucky Cement has commissioned a 42.8 MW solar power plant in Karachi.
Power consumption in Pakistan has declined 8-10 percent year on year over the past three quarters, according to energy ministry data. Power consumption is a significant economic indicator in the developing economy and another expected decline this year underscores challenges facing the newly elected government in debt-laden Pakistan, amid growing discontent among the poor.
Poor and middle class households are still feeling the impact of the International Monetary Fund’s bailout of Pakistan last year, which contributed to rising retail prices including fuel and electricity charges.
Power cuts are also frequent in Pakistan, especially in far flung rural areas, due to grid issues, delays in importing fuel and hard currency shortages, though the frequency of such outages have reduced in the recent months.
Lucky Cement to set up hybrid wind-solar power plant under Pakistan’s special investment body
https://arab.news/vurcm
Lucky Cement to set up hybrid wind-solar power plant under Pakistan’s special investment body
- In the past, Lucky Cement has commissioned 42.8 MW solar power plant in Karachi
- Power consumption in Pakistan has declined 8-10% year on year in past 3 quarters
Pakistan receives $1.2 billion from IMF under EFF, RSF loan programs— central bank
- IMF Executive Board approved Pakistan’s second review under EFF, first review under RSF loan programs this week
- Disbursements from IMF have been crucial for cash-strapped Pakistan as it tries to recover from economic crisis
ISLAMABAD: Pakistan’s central bank announced on Thursday that it has received $1.2 billion under the International Monetary Fund’s (IMF) External Fund Facility and Resilience and Sustainability Facility (RSF) loan programs.
The IMF approved a $7 billion bailout package for Pakistan under its EFF program in September 2024 while in May 2025, it approved a separate $1.4 billion loan to Pakistan under its climate resilience fund. The RSF will support Pakistan’s efforts in building economic resilience to climate vulnerabilities and natural disasters.
The global lender approved Pakistan’s second review under its $7 billion EFF program and first review under the RSF loan on Tuesday. As per the State Bank of Pakistan (SBP), the central bank received a combined sum of $1.2 billion under the EFF and RSF on Dec. 10.
“The amount would be reflected in SBP’s foreign exchange reserves for the week ending on Dec. 12, 2025,” the SBP said in a statement.
IMF bailouts have been crucial for cash-strapped Pakistan, which has been struggling with a prolonged economic crisis that has exhausted its financial reserves and weakened its currency. Pakistan came to the brink of a sovereign default in 2023 before a last-gasp IMF bailout package helped it avert the crisis.
Pakistan has had to take tough decisions to comply with the IMF’s loan requirements, which include scrapping subsidies from food and fuel items to trigger inflation. Since then, Pakistan has attempted to regain stability by sharply reducing inflation and recording a current account surplus.
The disbursement, however, comes at an important time for the South Asian country as it mitigates losses from a deadly monsoon season that killed over 1,000 people since late June and caused at least $2.9 billion in damages to agriculture and infrastructure.
