Connect with us

Business

Sigh of relief: NEPRA notifies Rs2.32 per unit cut in power tariff

Published

on

  • Decision comes a day after govt dropped “petrol bomb” on people.
  • NEPRA also okays reduction of Rs10.8 per unit for KE consumers.
  • Domestic consumers who use more than 300 units will get benefit.

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) on Thursday notified a reduction of Rs2.32 per unit for Ex-WAPDA distribution companies (XWDISCOs) consumers on account of fuel charges adjustment (FCA) for December 2022.

The development comes a day after the federal government dropped a “petrol bomb” on the masses by increasing the price to Rs272 per litre after a hike of Rs22.20. Meanwhile, natural gas tariff was increased sharply by up to 112% for consumers.

The negative power tariff adjustment will give some breathing space to the inflation-weary people reeling from the impact of sky-high petrol and gas prices.

According to a notification issued in this regard, the NEPRA directed all XWDiscos to show the adjustment separately in the consumer’s bills for February.

This shall apply to all consumer categories except:

  • Lifelines consumers
  • Domestic consumers who consume up to 300 units
  • Agriculture consumers
  • Electric vehicle charging stations

It was also clarified that the negative adjustment on account of monthly FCA applies to domestic consumers having Time of Use (ToU) metres irrespective of their consumption level.

“The said adjustment shall be shown separately in the consumers’ bills on the basis of units billed to the consumers in the month of December 2022,” it read.

The FCA is based on changes in the global prices of fuel and is passed on to consumers under the prescribed rules and regulations of NEPRA and the government of Pakistan.

The recommendation proposed by the power distribution companies is approved by NEPRA after a thorough review of the data provided for a month during which the fuel charges were recovered from the consumers.

Earlier, the power regulator also notified a reduction of Rs10.8 per unit for the K-Electric consumers for the month of December 2022 which would also be reflected in the consumer bills of February 2023.

Business

In four months, FBR found Rs 800 billion in fraudulent tax refunds.

Published

on

By

Over the last four months, the Federal Board of Revenue (FBR) has discovered a Rs800 billion tax refund scam.

The Inland Revenue and Customs reforms were considered at a review meeting that Prime Minister Shehbaz Sharif convened. During this time, the board allegedly discovered the Rs800 billion tax refund fraud.

According to the conference, there are 83,579 outstanding tax cases totaling Rs3.2 trillion, of which about 63 cases, or Rs44 billion, have been settled as a consequence of various government measures.

In an effort to speed up the resolution of tax issues, the prime minister also ordered the creation of 100 tribunals.

The gathering also featured the identification of around five million new taxpayers, of whom fifteen thousand retailers have enrolled since April 1, 2024.

View more:More than 46,000 traders have signed up for the Tajir Dost Scheme: FBR.

The prime minister has instructed the tax authorities to promptly include the five billion tax evaders in the tax system and has placed a strong emphasis on working with merchants to improve system efficiency.

Continue Reading

Business

PM Gives FBR Instructions To Speed Up Digitization Work: An investigation revealed a Rs. 800 billion tax refund scam.

Published

on

By

Noting favorable results of FBR’s digitization efforts, Prime Minister Shehbaz Sharif revealed an 800 billion rupee tax refund scam discovered in the last four months.

Shehbaz Sharif stressed improving the tax refund system further while presiding over an important meeting on FBR reforms and digitization in Islamabad.

Regretting the delays in putting various reform programs into action, he emphasized that FBR changes had the potential to increase income.

There is a total of 3.2 trillion rupees worth of ongoing tax cases in various courts and tribunals, according to the briefing given to the conference. With 63 lawsuits worth 44 billion rupees resolved in the last four months, the current government has taken action to resolve these outstanding matters.

The prime minister has directed that efforts be made to attract as many of the 4.9 million potential taxpayers who are wealthy into the tax system as possible without putting undue strain on the impoverished.

Fifty thousand merchants have enrolled so far for the mobile phone retailer registration effort, which began in April.

He also emphasized the necessity for a consolidated approach for continuing reform initiatives and the complete digitization of FBR’s fraud detection and investigation department.

Continue Reading

Business

Mining in Balochistan: Mari Pvt Ltd Secures Exploration License

Published

on

By

Licenses for mineral prospecting in the Chagai District of Balochistan have been obtained by Mari Mining Company Private Limited.

501 square kilometers and 513 square kilometers, respectively, are covered by the licenses that the Directorate General Mines and Minerals Balochistan awarded.

Mari Petroleum Company Limited has formed Mari Mining Company as a subsidiary. Major player in Pakistan’s natural gas sector, Mari Petroleum manages the country’s largest gas deposits in Sindh’s Dakhri Gas Field.

With a success record of 70%, which is much greater than many of its peers both domestically and internationally, Mari Petroleum is a major oil and gas exploration and production business.

Because of the efforts of organizations like the International Monetary Fund, Balochistan, a region rich in minerals and natural resources, is developing quickly.

Continue Reading

Trending