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KARACHI: Pakistan’s government is negotiating a 1.25 trillion Pakistani rupee ($4.47 billion) loan with commercial banks to reduce its bulging energy sector debt, the power minister and banking association said.
Plugging unresolved debt across the sector is a top priority under an ongoing $7 billion International Monetary Fund (IMF) bailout, which has helped Pakistan dig its way out of an economic crisis.
“The loan will be repaid over a period of 5 to 7 years,” Power Minister, Awais Leghari told Reuters, adding that the term sheets are yet to be signed.
Pakistan’s government, the largest shareholder or owner of most power companies, faces a challenge in resolving debt due to fiscal constraints. To address this, Islamabad has raised energy prices, as recommended by the IMF, but still needs to settle the accumulated debt.
“We’ve approached many banks, let’s see how many participate. It’s a commercial transaction and they have the choice of participating, however, we think there is liquidity in the system for it and banks have the appetite,” Leghari said.
The government plans to reduce “circular debt” — public liabilities that build up in the power sector due to subsidies and unpaid bills — this year by eliminating government-guaranteed debt and moving to a revenue-based system.
This approach is expected to lower financing costs, enabling the government to pay off interest and service debt obligations, he added.
“Such repricing of liabilities induces more efficiency, and reduces cost for consumers,” said Ammar Habib Khan, adviser to the power minister.
Zafar Masud, Chairman of the Pakistan Banks Association, told Reuters that the interest rate would be a floating exchange rate and the country’s top banks would participate, in addition to those who are already part of the outstanding loan.
“⁠This will help in clearing up all the debt in the next 4 to 6 years which has been sitting on banks’ balance sheets,” he said.
Masud added that more than half of the 1.25 trillion debt is already on the banks’ books and is undergoing restructuring through self-liquidating facilities, which currently lack identifiable cash flows to support them.
($1 = 279.9000 Pakistani rupees)

KARACHI: The Pakistan Polio Eradication Program paid tribute to female polio workers on Friday, said an officials statement, recognizing their dedication in high-risk areas during a ceremony in Islamabad ahead of International Women’s Day.
Pakistan remains one of the few countries where polio persists, with eradication efforts often hindered by militant attacks, misinformation and parental refusals from targeted communities.
Female health workers play a leading role in the door-to-door inoculation drives, constituting more than 58.4 percent of the polio workforce, despite operating in some of the most challenging environments.
“Today, as we commemorate International Women’s Day, I want to reaffirm our collective commitment to ensuring a safe, dignified and enabling environment for every female frontline worker,” the polio eradication program’s statement quoted Ayesha Raza Farooq, the Prime Minister’s Focal Person on Polio, saying during the ceremony.
She highlighted the Pakistan Polio Programme’s implementation of an anti-harassment policy to ensure a secure and professional environment for female workers.
The event brought together national and provincial coordinators of the polio program alongside senior officials, where frontline female workers shared their experiences through video messages.
Many spoke about the challenges of convincing hesitant families while also expressing pride in their contributions to a polio-free future.
Anwarul Haq, the top official at the National Emergency Operations Center (NEOC), praised their dedication, calling them the “backbone” of Pakistan’s polio eradication efforts.
“This year’s theme resonates deeply with us at the National Emergency Operations Center as we honor female polio workers who are considered as the backbone of Pakistan’s polio eradication efforts,” he said. “These women work tirelessly, often in difficult and high-risk areas, to ensure every child receives the life-saving polio vaccine.”
“Their courage and unwavering commitment reflect the incredible strength of Pakistani women,” he continued. “Empowering them is not just about recognizing their contributions: it is about strengthening our communities and ensuring a healthier, polio-free Pakistan.”
Haq stressed the importance of gender sensitivity in public health, saying that supporting women in frontline health roles helps build a more inclusive, resilient and prosperous society.
Pakistan concluded its first nationwide anti-polio campaign of 2025 last month.
So far, the country has reported six polio cases since the start of the year, with authorities planning additional vaccination rounds in April and May.