Business

Sigh of relief for Karachiites as NEPRA approves electricity price cut

Published

2 years ago

Farwa

NEPRA orders KE to make efforts for low-cost power generation for Karachi.
KE files petition for electricity price cut of Rs4.21 per unit.
NEPRA observes that KE generates power at higher cost at its end.

The National Electric Power Regulatory Authority (NEPRA) has approved an electricity price cut of Rs4.87 per unit under fuel charges adjustment for the month of August, it emerged Thursday.

The approval given during the hearing of a case for fuel charges adjustment requisitions came as a sigh of relief for Karachiites who have been bearing the burden of heavy electricity bills despite continuous power cuts in the name of load-shedding.

During the hearing, NEPRA Chairman Tauseef H Farooqi was informed that the KE has filed a petition for an electricity price cut of Rs4.21 per unit.

At this, NEPRA’s KP member Engineer Maqsood Anwer said that the company takes electricity from the national grid on a low price but is generating electricity on its own at a high cost.

This drew a remark from Farooqi that the KE is purchasing electricity from the national grid for Rs13.61 per unit and generating its own electricity at a rate of more than Rs37 per unit

“KE is generating power for an additional Rs24 per unit as compared to the national grid,” he said, asking how a company can expect a price cut in this condition.

Meanwhile, Anwer said that consumers will get a relief of Rs6 per unit of electricity if KE lowered the cost of power generation at its end.

At this, the NEPRA chair directed the KE officials to make efforts for electricity generation at a lower cost.

Moreover, Farooqi expressed the intention to hear the issues of Karachi consumers in an open court.

Business

Pakistan’s gold prices continue to decline.

Published

2 days ago

Farwa

The price of ten grams of 24 carat gold dropped by Rs 1,201 to Rs 205,418 from Rs 206,619, while the price of ten grams of 22 carat gold dropped to Rs 188,300 from Rs 189,400, according to the All Sindh Sarafa Jewellers Association.

Silver, priced at Rs. 2,620 per tola and Rs. 2,254.80 per ten grams, stayed at that level. As reported by the organization, the price of gold dropped by $11 on the global market, to $2,297 from $2,308.

Business

Price of LPG “slashed” by Rs. 20 per kilogram

Published

2 days ago

Farwa

Sources claim that LPG rates have been lowered by Rs 20, making the cost per kilogram drop from Rs 280 to Rs 260.

It is noteworthy to remark that the costs of LPG were reduced by Rs 20 per kilogram earlier, resulting in a total reduction of Rs 40 per kilogram within a few weeks.

The price of liquefied petroleum gas for the month of May 2024 was lowered by the Oil and Gas Regulatory Authority (OGRA) on April 30.

The LPG tariffs were lowered by Rs 11.88 to Rs 238.46 per kilogram in accordance with the OGRA’s notice. On Wednesday, May 1, 2024, the new rates will go into effect.

In April of last year, the price per kilogram of LPG was Rs 250.34. pricing reduction of Rs 140.18 has resulted in a new pricing for home LPG cylinders set for May 2024 of Rs 2813.85.

The OGRA reported a drop in liquefied petroleum gas pricing in April. The price of LPG is now Rs 250.34 per kg instead of Rs 256.78 due to a reduction of Rs 6.44 per kg.

The price of the household cylinder was fixed at Rs 2954.03 for the month of April, down from Rs 3030.12, a decrease of Rs 76.9.

Business

ADB delegation stops by FBR headquarters

Published

2 days ago

Farwa

Senior Director ADB Tariq Niazi oversaw the expedition, which also involved Sana Masood, Farzana Noshab, and Senior Public Sector Management Specialist Laisiasa Tora. The meeting included presentations from economists as well, according to an FBR press release.

The officers focused on structural and policy adjustments as they discussed the Domestic Resource Mobilization Program’s implementation at the meeting.

$300 million was given to the Pakistani government by ADB in December 2023 as a result of the hard work and dedication of FBR. Better laws, regulations, and institutional capability for the FBR were established by Sub-Program I.

With the $300 million in funding provided by the Asian Development Bank (ADB) to the Government of Pakistan in December 2023, the delegation conveyed satisfaction with the program’s effective launch.

The FBR also underlined how crucial digitization is to recording the economy and boosting productivity in a sustainable way.

In order to promote the Government of Pakistan’s Digital Tax Administration Project, both parties decided to look into measures to improve their cooperation.