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K-Electric’s power tariff cut by Rs7.43 per unit

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  • FCA for Nov 2022 will be reflected in billing month of Jan 2023.
  • NEPRA approves a hike of Rs0.189 for XWDISCOs.
  • Tariff cut and hike will be applicable to all consumer categories.

The National Electric Power Regulatory Authority (NEPRA) on Wednesday decided to slash the power tariff by Rs7.43 per unit for K-Electric (KE) consumers on account of fuel cost adjustment (FCA) for November 2022.

In its petition filed with NEPRA, KE had requested a tariff reduction of Rs7.043 per kilowatt-hour (kWh). The regulator conducted a public hearing on December 27, 2022, and approved a reduction of Rs7.43 per unit.

The FCA for November 2022 will be reflected in the billing month of January 2023. The tariff cut will be applicable to all consumer categories except for:

  • Lifeline consumers
  • Domestic consumers consuming up to 300 units
  • Agricultural consumers
  • Electric vehicle charging station users

The regulator clarified that the negative adjustment would be applicable to domestic consumers having Time-of-Use (ToU) meters irrespective of their consumption levels.

“The adjustment shall be shown separately in the consumers’ bills on the basis of units billed to the consumers in the respective month to which the adjustment pertains,” the notification read.

Meanwhile, the power regulator increased the power tariff by Rs0.1892 per kWh for ex-WAPDA Distribution companies (XWDISCOs).

The adjustment will also be reflected in January 2023 bills and would be applicable to all consumer categories except

  • Electric vehicle charging stations
  • Lifeline consumers

The impact of this increase will be around Rs1.75 billion including 17% general sales tax. Meanwhile, the impact of the power cut for KE will be over Rs11 billion, however, it will not be passed into lifeline consumers.

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Islamic Sukuk Bonds: Government Is Expected To Begin Bond Auction Next Week

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There is now more positive economic news for the people of Pakistan. The government is anticipated to begin the Sukuk Islamic Bond auction next week, after the central bank’s announcement of a large drop in the policy rate.

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SIFC Encourages Green Tourism: Reforming Visas to Increase Investment

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Enhancing investment in the tourism sector, Green Tourism Pakistan’s initiative has received backing from the Special Investment Facilitation Council.

Visa-On-Arrival for 126 countries, Visa-Free Entry for Gulf Cooperation Council nations, and 24-hour expedited visa processing are some of the main features of the Green Tourism Visa Policy.

It is anticipated that these endeavors will draw in about 80 million dollars in foreign direct investment and 8.3 billion rupees in domestic investment.

Green Tourism Private Limited has introduced hunting resorts in Naltar, Hunza, and Skardu, along with four- and five-star city hotels, to improve the tourism experience.

In the first phase of the project, 17 of the 78 areas have seen the start of development activity.

Approved is a central authority for Green Tourism that will supervise the growth of Air Operations.

To promote Religious Tourism, extra precautions have been taken to guarantee the security of visitors from all religions, including Sikhs and Buddhists.

Furthermore, in order to improve the quality of the tourist experience, the green guide quality program has been introduced to supply top-notch tour guides.

There is now a deluxe bus excursion from Islamabad to Peshawar that promotes local culture.

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July 2024 export data from Pakistan shows a significant rise.

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The Strategic Investment Facilitation Council (SIFC) has been instrumental in improving Pakistani products’ access to international markets, as seen by the significant surge in exports from the country at the start of the 2024–25 fiscal year.

With a 7.26% rise over the same month the previous year, July 2024 exports to the US were $476.017 million. After increasing by 7.74% annually, the United Arab Emirates emerged as the second-largest export destination.

The third and fourth places were occupied by exports to the UK ($183.303 million) and China ($60.100 million). A substantial increase in exports to Afghanistan was recorded in July of this year, rising from $46.262 million to $88.065 million, largely due to successful anti-smuggling efforts.

With a combined export volume of $553.951 million, more important export destinations included Germany, the Netherlands, Italy, Spain, Saudi Arabia, and Turkey.

A bright future for the national economy is suggested by the growing confidence major international markets have in Pakistani exports. Through the efforts of SIFC and the government, this greater access to global markets has been made possible.

Pakistan’s economy is predicted to remain stable as a result of the export growth that SIFC has enabled.

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