Business

Burdening masses: NEPRA raises basic electricity tariff by Rs7.9 per unit

Published

2 years ago

Farwa

NEPRA cites increase in fuel prices, capacity cost as reasons behind increase in power tariff.
Basic power tariff has been raised by Rs.7.9078/kWh for the next fiscal year 2022-23.
Decision taken in line with IMF’s demand, power distribution companies’ requests.

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) Thursday raised the basic power tariff by Rs7.9078/kWh for the next fiscal year 2022-23 increasing the burden of inflation on the people of Pakistan.

The decision has been taken in line with the International Monetary Fund’s demands and the power distribution companies’ requests. Currently, the basic power tariff is Rs16.91 per unit and with an increase of Rs7.9078 per unit, it will be more than Rs24 per unit.

The NEPRA cited an increase in fuel prices, capacity cost and the impact of the devaluation of the Pakistani rupee as reasons behind the significant increase in power tariff.

According to a statement issued by the regulatory authority, the tariff has been determined for the fiscal year 2022-23.

The statement further mentioned that:

The energy purchase price was projected as Rs1,152 billion
Capacity charges including National Transmission and Dispatch Company (NTDC) and high-voltage, direct current (HVDC) electric power transmission cost is projected as Rs1,366 billion.
The total revenue requirement of XWDISCOs including DISCOs margin and prior year adjustment (PYA) is projected as Rs2,805 billion with projected sales of 113,001 GWh.
MEPCO, GEPCO, HESCO, SEPCO, QESCO, PESCO and TESCO have been allowed an investment of around Rs406 billion for their distribution investment programme for the five years.
XWDISCOs allowed transmission and distribution (T&D losses have been reduced from 13.46% to 11.70% for the FY23.

“The determined tariffs have been intimated to the federal government and the uniform tariff so determined by NEPRA after incorporating the amount of subsidy/surcharges, intimated by the Government of Pakistan, is forwarded for notification,” the statement read.

Business

Pakistan’s gold prices continue to decline.

Published

8 hours 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

8 hours 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

8 hours 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.