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The FIA and KE have launched 13 successful operations against power theft.

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7 months ago

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In March 2024, operations were performed in collaboration with the FIA, targeting locations such as Marora Goth, Peer Abad, Ellahi Colony Metroville, Merchant Navy Housing Society, Johar Colony, Willayatabad, and Architects Society, among others. As a result of these collaborative efforts, six FIRs regarding power theft have been filed. Furthermore, four people were caught, with three being remanded to jail and one being released after paying the fines. To enforce governance and maintain accountability, a total fine of PKR 44.33 million was issued. Additionally, in partnership with FIA Balochistan, KE has conducted anti-theft operations in Hub, where teams from KE and FIA thoroughly investigated places including as markets, retail plazas, residential and commercial properties.

Regular actions against illicit power use are part of KE’s everyday activities to prevent line losses and protect the safety and security of the electrical infrastructure. Since the start of the fiscal year (FY 2023-24), over 24,000 kunda removal drives have been performed, resulting in the elimination of over 190,000 unlawful connections and the recovery of over 260,000 kgs of illegal kunda wires.
Ongoing raids involving law enforcement personnel and other agencies have resulted in the registration of around 994 FIRs against various individuals throughout Karachi. Since the launch of the nationwide power theft campaign in September 2023, more over 100,000 incidences of theft of 180 million units of electrical power have been identified in KE’s service zone.

In response to KE’s anti-theft initiatives, a KE spokesperson stated that “71% of KE’s feeder network is loadshed-free. However, 29% of the KE network remains difficult, with electricity theft and nonpayment of bills still key issues. Serious theft cases have been found in Baldia, Surjani, Korangi, Orangi, Liaqatabad, Landhi, and Lyari, among other places. Highlighting the repercussions of electricity theft, which may jeopardize the safety standards of the power network, the KE Spokesperson noted that PKR 117 million has been recovered.

Recognizing the challenges faced by current macroeconomic conditions, especially high inflation, KE is taking proactive steps to assist customers by establishing facilitation camps throughout the city. Since July 2023, approximately 240 recovery camps have been hosted around KE’s operational zone to help customers resolve billing concerns, including supporting payment plans with manageable installments.

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Business

With the PSX at 115,000, investors profit while the sun is shining.

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5 hours ago

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Despite the numerous actions the government has taken in recent months, the nation’s economy is still growing.

The extraordinary rise in equities in recent years is evidence that the economic “turnaround” has given investors cause for optimism.

As market participants eagerly made investments, the KSE-100 index crossed the 115,000 level on Friday, the penultimate working day of the current week on the Pakistan Stock Exchange (PSX). The stocks gained strength on the 13th consecutive day, highlighting improvement in the country’s economy.

During early hours of trading, stocks climbed to 115,172 with a gain of 600 points.

The Pakistan Stock Exchange (PSX) reached its peak by surging above 114,000 points on Thursday. It has been over a month since the surge began.

The figure jumped by a substantial 2,500 points to 113,374 points during Thursday’s session. The KSE-100 index closed at 114,180, up 3,370 points, after surpassing 114,000 points later in the day.

On Wednesday, stocks closed at 111,810.

FLOW AND EBB

The market had a sharp bearish rise a few days ago, but it was short-lived as bullish momentum returned. The benchmark KSE-100 index gained more than 2,000 points and is currently sitting around 111,000. It was in opposition to the close of 108,896 points the day before.

CUT THE rating ON THE CARDS

The proverbial bulls have been galloping for the past month or so thanks to the financial infusion from the International Monetary Fund’s loan disbursement and more discussions on climate funding.

The impending policy rate cut meeting of the SBP is another factor contributing to the current market attitude. The Monetary Policy Committee of the Central Bank is scheduled to convene on Monday, December 16.

On November 30, the Pakistan Stock Exchange (PSX) achieved a historic milestone by reaching a record-breaking high of 100,000 points following an unheard-of run of gains.

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ADB Adjusts Pakistan’s Economic Growth Forecast to 3% for 2024-25, Indicating Positive Economic Trajectory

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1 day ago

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Pakistan’s economic growth is projected to be three percent in the fiscal year 2025, according to the Asian Development Bank’s revised prediction, which is an upward revision from the previous forecast.

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The PSX 100 index crosses 113,000 points, marking a historic milestone.

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1 day ago

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The historic 113,213-point milestone has been surpassed for the first time by the Pakistan Stock Exchange (PSX), setting a new record.

The stock market experienced a spectacular start to the trading session, rising 1,400 points in just 30 minutes. At an all-time high of 112,277 points, the KSE-100 Index jumped 1,467 points.

With the index rising 1,200 points in just 15 minutes after the market began, the PSX had already reached another milestone. At 112,041 points, the KSE-100 Index had risen 1,231 points.

In another example of record-breaking performance, the PSX saw a 1,000-point spike in just 10 minutes. The KSE-100 Index rose 1,100 points to 111,911 points, regaining the 111,000-point milestone and hitting its highest level ever.

The PSX’s exceptional performance establishes it as a crucial gauge of economic optimism by highlighting robust investor confidence and substantial market momentum.

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