Business

Good News: NEPRA approves reduction in K-Electric’s tariff by Rs5.12 per unit

Published

1 year ago

Farwa

The change will be reflected in November bills.
This will also apply for only one month.
Rs5.12 decrease will have an impact of over Rs8.6 billion.

ISLAMABAD: In a major relief for Karachiites, the National Electric Power Regulatory Authority (NEPRA) Friday notified a reduction in K-Electric’s tariff on account of fuel charges adjustment (FCA) for September.

The power regulator notified that a Rs5.1261 per kWh adjustment should be reflected in November bills under the FCA — a system by which the price of electricity is adjusted as fuel prices fluctuate. This will also apply for only one month.

The hearing of KE’s fuel adjustment application in NEPRA was held on October 25 where the KE had requested a negative FCA of Rs4.622 per kWh.

However, following the arguments and estimates the power regulator approved a negative FCA of Rs5.1261 per kWh.

In a statement, the NEPRA directed all KE to show the adjustment separately in the consumer’s bills for November.

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 Rs5.12 decrease will have an impact of over Rs8.6 billion on consumers, including GST.

“While effecting the fuel adjustment charges, the concerned K-Electric shall keep in view and strictly comply with the orders of the courts notwithstanding this order,” the notification issued in this regard read.

Earlier this week, the power regulator had indicated an increase in the electricity tariff of the ex-Wapda distribution companies XWDISCOs by Rs0.08 per unit on account of FCA for September 2022.

The Rs0.08 increase will put a burden of over Rs1 billion on consumers, including GST.

Business

Pakistan’s gold prices continue to decline.

Published

1 day 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

1 day 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

1 day 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.