Business

KE produced electricity at extremely high rates in June, document reveals

Published

1 year ago

Farwa

KE’s generation cost was higher in June, document shows.
It produced electricity at an average cost of Rs24.90 per unit.
Discos, KE may charge additional Rs1.81, Rs2.31 per unit in Aug bills.

ISLAMABAD: Karachiites are forced to pay higher rates for electricity than consumers in other parts of the country, according to a document shown during a public hearing held by the National Electric Power Regulatory Authority (Nepra) on Wednesday.

Nepra conducted a public hearing on the petitions filed by the distribution companies and K-Electric (KE) for a hike of Rs1.8846 per unit and Rs2.336 per unit, respectively.

The petitions were in relation to the monthly Fuel Charge Adjustment (FCA) for June 2023.

According to the document shown during the hearing, the power generated by KE was about 114% more expensive than the electricity it obtained from external sources in June 2023.

The utility generated electricity at a cost of up to Rs50.31 per unit in the previous month.

The documents further stated that the KE generated electricity at an average of Rs24.90 per unit in the last month while it purchased power from external sources at an average of Rs 11.65 per unit.

Furthermore, the documents revealed that KE produced electricity from diesel at Rs50.31 per unit, from Liquefied Natural Gas (LNG) at Rs43.37, and from furnace oil at Rs35.91.

The only vertical power utility company in the country didn’t produce a single unit of power from gas (local), the report added.

In June 2023, the documents revealed, KE generated 50.2% of its electricity from its own sources, whereas it bought 49.8% from other sources.

Document presented during Nepra hearing. — Reporter

KE may charge additional Rs2.31 per unit in August bills

Meanwhile, the power regulator hinted on Wednesday that ex-Wapda distribution companies (Discos) may be allowed to collect an additional Rs1.81 per unit from their cus in the upcoming August bills.

Similarly, Nepra also suggested that KE could potentially collect an extra Rs2.31 per unit from their consumers in the same billing period.

On Wednesday, the authority conducted public hearings on the petitions filed by the distribution companies and K-Electric for a hike of Rs1.8846 per unit and Rs2.336 per unit, respectively.

These petitions were in relation to the monthly Fuel Charge Adjustment (FCA) for June 2023.

NEPRA Chairman Tauseef H. Farooqi presided over the proceedings in the presence of other authority members, including Rafique Ahmad Shaikh (member technical) representing Sindh, Amina Ahmed (member law) from Punjab, Engr Maqsood Anwar Khan from Khyber-Pakhtunkhwa, and Mathar Niaz Rana (member tariff and finance) from Balochistan.

If the regulator decides to approve these rates in their final decisions, it will result in an impact of nearly Rs29 billion (including GST) for the Discos and approximately Rs5 billion (including GST) for K-Electric consumers.

The proposed increase will be applicable to all consumer categories except Electric Vehicle Charging Stations (EVCS) and Lifeline consumers.

Notably, for May 2023, the FCA for Discos was an increase of Rs1.9039 per unit, while K-Electric saw an increase of Rs1.4465 per unit, and these charges are currently being collected in the July 2023 bills.

Business

An investigation was “launched” into PTA’s inability to get Rs. 78 billion back from Telcos

Published

18 hours ago

Farwa

The PTA has reportedly been instructed to reply to NAB by July 29. According to the enquiry, the national exchequer has suffered losses as a result of the delay in collecting dues.

The PTA has been asked to provide NAB with information about any pertinent records, court proceedings, and overdue bills. The NAB Karachi has summoned the PTA officials to appear with all pertinent documentation.

All of the principle sum has to be paid by the LDI firms, according to sources. But due to judicial stay orders, the collection of dues has been impeded.

These sources further state that a steering group has been established by the Ministry of IT to supervise the issue of dues recovery.

In a previous event, the tariffs levied on importing cell phones from outside were clarified by the Pakistan Telecommunication Authority (PTA).

Contrary to what some internet reports claim, PTA clarified in response to recent news regarding the tariffs on mobile phone imports that there hasn’t been a formal decision to remove these levies in Pakistan.

the PTA.Pakistanis living abroad will be the only ones free from these levies, according to the PTA. A SIM card can be inserted and the phone restarted to temporarily register a device for non-PTA mobile subscribers.

Business

Weekly inflation in Pakistan increased by 0.17 percent.

Published

18 hours ago

Farwa

The SPI for the week under review in the aforementioned group was reported at 321.95 points, as opposed to 321.40 points during the previous week, according to the PBS statistics.

The SPI for the combined consumption group saw a 20.09 percent increase in the week under review compared to the same week the previous year.

The weekly SPI includes 51 necessary items for every spending group and 17 urban areas, with a base year of 2015–16 = 100.

The SPI for the lowest consumption category, which is up to Rs 17,732, grew by 0.08 percent from 311.97 points to 312.22 points this past week.

0.18 percent,The index of consumption for the lowest consumption groups, which are Rs 17,732-22,888, Rs 22,889-29,517, Rs 29,518-44,175 and above Rs 44,175; increased by 0.13 percent, 0.15 percent, 0.18 and 0.19 percent, respectively.

Nineteen (37.25%) of the fifty-one commodities had price increases over the week, eight (15.69%) had price decreases, and twenty-four (47.06%) had unchanged pricing.

On a weekly basis, the following commodities saw significant price decreases: tomatoes (9.19%), onions (2.14%), LPG (1.04%), bananas (0.53%), wheat flour (0.35%), potatoes (0.17%), pulse masoor (0.16%), and bread (0.05%).

Chicken (4.80%), garlic (2.01%), pulse gramme (1.87%), eggs (1.71%), beef (0.93%), gur (0.89%), pulse moong (0.84%), fresh milk (0.45%), firewood (0.23%), and cigarettes (0.12%) were among the items whose average prices increased significantly week over week.

The commodities that saw a year-over-year decline were: wheat flour (31.75%); cooking oil (13.44%); vegetable ghee 2.5 kg (10.42%); vegetable ghee 1 kg (9.85%); mustard oil (8.33%); eggs (5.82%); rice basmati broken (4.15%); and tea package (2.52%).

Gas prices for Q1 (570.00%), onions (96.01%), pulse gramme (40.39%), powered milk (39.11%), garlic (34.61%), pulse moong (29.77%), men’s sandals (25.01%), beef (23.52%), salt powder (23.28%), pulse mash (22.50%), and energy saver (17.96%) were among the commodities whose average prices increased year over year.

Business

The price of gold has drastically dropped in Pakistan.

Published

2 days ago

Farwa

As per the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the cost of 24-karat gold per tola decreased by Rs 2,300, standing at Rs 250,500.

A kilogramme of 24-karat gold costing Rs1,972 less at the local market, making it worth Rs2114,763. Ten grammes of 22-karat gold had a price decrease to Rs196,866 as well.

After losing a significant $43 during the day, the rate per ounce of gold on the international market also decreased. It currently stands at $2,370.

On Thursday, the price of 24-karat silver also experienced a decline, falling by Rs60 to settle at Rs2,860 petal.