Business

Power consumers to pay Re0.79 per unit more as March FCA

Published

11 months ago

Farwa

The amount will be recovered from power consumers in May.
The adjustment will be shown separately in consumers’ bills.
Charges applicable on all categories except lifeline and EVCS.

ISLAMABAD: Power consumers, who are already overburdened by soaring inflation and high fuel and electricity costs, will now have to pay Re0.79 per unit more in the month of May.

According to a notification issued by the National Electric Power Regulatory Authority (Nepra) Thursday, the additional amount is being levied in lieu of fuel cost adjustment (FCA) charges for March.

The charges would be applicable to all consumer categories except electric vehicle charging stations (EVCS) and lifeline consumers, the notification stated.

“The said adjustment will be shown separately in the consumers’ bills on the basis of units billed to the consumers in the month of March 2023,” it added.

In March, Nepra allowed power distribution companies (Discos) and K-Electric to recover deferred fuel adjustment surcharges up to Rs14.24 per unit from consumers in eight months.

According to the Nepra decision, discos will recover Rs10.34 per unit from domestic protected consumers using 0-200 units per month, Rs14.24 per unit from non-protected consumers using 0-200 units, Rs14.24 per unit from those consuming 201-300 units per month, and Rs9.90 per unit from private agricultural consumers.

The entire amount would be recovered from the electricity consumers in monthly instalments from March to October 2023.

In its decision, the authority also allowed K-Electric to recover the deferred fuel adjustment surcharge from the consumers up to Rs 13.87 per unit.

K-Electric will recover Rs9.97/unit from domestic protected consumers using 0-200 units per month, Rs13.87 per unit from non-protected consumers using 0-200 units, Rs13.87 per unit from those consuming 201-300 units per month, and Rs9.90 per unit from private agricultural consumers. The private lender will also recover the amount from March to October 2023.

Business

PSX surpasses the historical 71,500-point threshold.

Published

3 days ago

Farwa

Investors celebrated as the PSX finally crossed the historic 71,500 point threshold, signalling a critical turning point in the state of the economy in the country.

The KSE-100 index jumped more than 740 points, soaring to a record high of 71,650 points, demonstrating the tenacity and optimism that pervaded the Pakistani financial market.

This outstanding accomplishment indicates strong growth possibilities for the foreseeable future and demonstrates investors’ faith in the nation’s economic prospects.

The Pakistan Stock Exchange (PSX)’s KSE-100 index saw a minor decline of 60.92 points on Friday, or 0.09 percent, and ended the day at 70,483.66 points.

In the foreign exchange market, the US dollar lost value in relation to the Pakistani rupee at the same time.

Currency dealers claim that on the first day of the workweek, the value of the US dollar dropped by 11 paisas to Rs278.20 in the interbank market, significantly strengthening the rupee.

Business

Outsourcing: Investors from Turkey stop by the airport in Karachi

Published

3 days ago

Farwa

Turkish investors, who are interested in outsourcing Pakistan’s airport industry, sent a high-level team to Karachi Airport.

The domestic arrival and departure lounge at Karachi airport was visited by the Turkish investment group, according to information. The investors were briefed about the workings of the Karachi airport by a delegation of the Civil Aviation Authority, headed by Secretary Aviation Saif Anjum.

An update on the volume of people and business leaving the airport was also provided to Turkish investors. It is anticipated that the delegation would tour the cargo terminal and CAA headquarters today.

The nation’s three main airports, Karachi, Lahore, and Islamabad, were formerly to be outsourced by the federal government.

Interest in outsourcing three of Pakistan’s airports has been expressed by local parties as well as investors from Germany, France, the Netherlands, Qatar, the United Arab Emirates, Malaysia, and Turkiye.

The timeframe for proposal submission for Islamabad International Airport’s outsourcing was extended by the Civil Aviation Authority (CAA) earlier on March 21.

The government’s top objective in the process of outsourcing international airports, according to Prime Minister (PM) Shehbaz Sharif, is openness.

First, he stated that Pakistan is willing to participate in a public-private partnership to outsource a portion of the airport’s commercial activities.

Business

The inaugural flight of Azerbaijan Airlines is between Baku and Karachi.

Published

6 days ago

Farwa

The national airline of Azerbaijan launched direct flights from Baku to Karachi today. There will be two weekly flights on this route, on Thursdays and Sundays.

The first flight will land in Karachi, and Azerbaijan’s ambassador, Khazar Farhadov, will be there to greet it.

This evening also marks the departure of the inaugural flight from Karachi to Baku, in addition to the arrival of the flight from Baku.

Azerbaijan Airlines said last month that it would be growing its network and flight operations in Pakistan.

Aviation insiders have verified that Azerbaijan Airlines is preparing to launch service to Karachi in the coming month of April.

In addition to its current services in Islamabad and Lahore, the airline plans to launch its Karachi route on April 18, with the inaugural flight anticipated to depart on that date.

Azerbaijan Airlines has been given permission to operate flights on the Karachi route, according to sources within the Civil Aviation Authority (CAA).

Following a bilateral agreement between the two nations, Azerbaijan Airlines has been given permission to extend its operations in Pakistan.